Seth

completely breaks the economic link between what a participant produces and 'what they are paid'

[Polymarket @Polymarket]

JUST IN: New EU regulation mandates new vehicles use AI to surveil drivers’ eye movements, blinking, & yawning.

[Franklin @Franklinvest_]

How the Best Divest https://t.co/DaclGroBRh

[Seth @704seth]

@FBICyberDiv @FBILosAngeles https://t.co/prm5UFwFpU

[Seth @704seth]

@FT Based on a real person who fled Dublin to fight in the Spanish Civil War and exposed a Russian plot in Republican Spain.

[Seth @704seth]

@Polymarket Is that how you dress in Florida? In a suit?

[Seth @704seth]

IBM to Appoint Omnicom Media as Global Media Agency of Record
https://t.co/U0MTDvarj8

[Polymarket @Polymarket]

JUST IN: EU trade with the U.S. reportedly hit a record high last year despite tariff tensions.

[Seth @704seth]

EU plans energy standards for data centres amid concerns over soaring power use https://t.co/FiMQWCBJL4

[Seth @704seth]

It's like Penguin Random House reading their own books.

[Seth @704seth]

That AI companies publicly use their AI outside of R&D is like Texas Instruments launching their own missiles.

[Seth @704seth]

It's like Steinway playing their own pianos.

[Bloomberg @business]

Latvia’s prime minister said he intends to approach the European Union’s executive arm with a new plan for the Rail Baltica train link, as the Baltic region’s biggest infrastructure project is unlikely to be completed on time. https://t.co/Rp0t8nkuBL

[Polymarket @Polymarket]

JUST IN: Germany’s rail operator is targeting 80% long-distance punctuality by 2035 after only just over 60% of trains ran on time last year.

[Seth @704seth]

@unusual_whales Net gain

[Polymarket @Polymarket]

JUST IN: OpenAI reveals Codex now accounts for 99.8% of weekly AI output tokens inside the company.

[Seth @704seth]

@FLOTUS Regrettable timing on this one, I hadn't heard the news.

[Seth @704seth]

@FLOTUS

[Seth @704seth]

In order to provide values that are comparable with other years, the cost and change in asset reserves shown for 2021 reflect the 12 months of benefits scheduled for payment in 2021 and thus include the benefits scheduled for payments on January 3, 2021, which were actually paid on December 31, 2020, as required by the law.

[Seth @704seth]

Beginning in 2020 and extending into the first part of 2023, for many defined benefit pension plans, the mortality experience of the plan participants was significantly higher than expected due to the COVID-19 pandemic.

Adjustment for exposure periods of less than 12 months. The request must include a description of the method or methods used to make adjustments for individuals who left the population for reasons other than death to reflect exposure periods of less than 12 months

Adjustments to make experience study predictive of future mortality experience in light of changes to the plan population. The request must include a description of
any method used to adjust the experience study data to reflect changes in the population during the Experience Study Period. For example, if an annuity purchase,
lump sum window or other risk transfer activity occurred during the experience study, the request should include a description of how those populations were treated in the study.

Plans with significant changes in coverage. If a substitute mortality table was first approved for use for a plan year that began before January 1, 2025, and the number of individuals covered by the substitute mortality table is less than 80 percent or more than 120 percent of the average number of individuals in that population over the 12-month periods covered by the experience study, then the substitute mortality
table may not be used for a plan year beginning on or after January 1, 2026.

OMB Control No: 1545-2073ICR Reference No: 201704-1545-021
Status: Historical ActivePrevious ICR Reference No: 201309-1545-088
Agency/Subagency: TREAS/IRSAgency Tracking No:
Title: Substitute Mortality Tables for Single Employer Defined Benefit Plans

[Seth @704seth]

After consideration of public comments received on the proposed regulations (and taking into account section 335 of the SECURE 2.0 Act), the proposed regulations are adopted by this Treasury decision, with certain changes. These changes include: (1) a delay in the applicability date; (2) modifications in the mortality improvement rates to reflect the expected ongoing impact of COVID-19 on mortality rates and to reflect the 0.78 percent annual cap on mortality improvement rates as required by section 335 of the SECURE 2.0 Act; and (3) a minor change related to the treatment of individuals who are not identified as male or female.

The use of an assumed increase in mortality rates to reflect the impact of the COVID-19 pandemic, which would be phased out after an appropriate period. RPEC did not recommend a specific level for this assumed increase but provided data about mortality rates for 2020 through the first half of 2022 and provided examples of assumed increases that could be used (including the assumed increase used in the 2022 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds

Five comments on the proposed regulations were received. No commenters requested to speak at the scheduled public hearing; accordingly, the public hearing was canceled.