PBGC grants filing relief for Hurricane Harvey victims
The Pension Benefit Guaranty Corporation is waiving penalties and extending pension premium deadlines in response the disaster in Texas.
Pensions
PBGC grants filing relief for Hurricane Harvey victims
The Pension Benefit Guaranty Corporation is waiving penalties and extending pension premium deadlines in response the disaster in Texas.
New math deals Minnesota’s pensions the biggest hit in the U.S.
Debt to states workers’ retirement system has soared by $33.4 billion, or $6,000 for every resident, courtesy of accounting rules.
Benefits Think Pension plan sponsors – When ‘de-risking,’ select annuity providers with care
A recent trend has seen DB plan sponsors transferring a portion of their plan obligations to insurance companies through the purchase of annuity contracts for the benefit of affected participants.
Belinda S. Morgan
Foley & Lardner LLP
General Mills to freeze U.S. pension plans
Changes in interest rates, healthcare costs and investment returns have spurred the company to make the move beginning in 2028.
UPS to freeze pensions for 70,000 nonunion workers to cut costs
UPS will freeze a pension plan because of escalating costs and volatility in determining future payments, replacing it with a different retirement benefit.
Benefits Think Who really loses when a multiemployer pension plan fails?
Employers are not in the driver seat of these programs but they usually get the blame when a retirement plan needs an intervention, says attorney David Pixley.
David M. Pixley
Graydon Head
Long-term care insurers steering through tough times
Many carriers offering long-term care coverage are experiencing financial woes and may no longer guarantee payments when clients need them.
Long-term care insurers steering through tough times
Many carriers offering LTC coverage are experiencing financial woes and may no longer guarantee payments when clients need them.
Pension contributions up, funded status stagnant
Plan sponsors should keep an eye on tax reform changes that could impact plans, experts say.
Many DB sponsors missing out on PBGC premium reduction opportunities
As employers struggle to keep their pensions afloat, they could be overlooking opportunities to save thousands of dollars by fine-tuning the way they account for their liabilities.
Employers navigate defined benefit pension risk
Activity is set to rise in the coming year as companies deal with retirement accounts.
Many DB sponsors missing out on PBGC premium reduction opportunities
As employers struggle to keep their pensions afloat, they could be overlooking opportunities to save thousands of dollars by fine-tuning the way they account for their liabilities.
The perils of withdrawing retirement money early
Workers who withdraw from their 401(k) plan lose about 25% in compounded growth.
The perils of withdrawing retirement money early
Workers who withdraw from their 401(k) plan lose about 25% in compounded growth.
Benefits Think Senate should rein in states’ retirement plans
State-government mismanagement, especially of pensions, has already created a danger that federal bailouts will become inevitable.
Ramesh Ponnuru
Bloomberg View
Even San Francisco, flush with tech wealth, has pension problems
The city is facing a budget shortfall that will reach $848 million in five years. Increases in pension payments and other payroll costs are driving the gap, according to a five-year financial plan.
Calpers slashes pensions for retirees of defunct agency
The reduction, effective in July, was triggered by the failure of a defunct public agency, the East San Gabriel Valley Human Services Consortium, to pay Calpers the entire cost of covering the pensions of its former employees.
Calpers board to vote on slashing pension benefits by 63%
The California Public Employees’ Retirement System is set to vote next week on cutting benefits for a small group of retirees in what would be the second such move in the last four months.
Benefits Think 9 trends driving employee benefits in Q2 and beyond
With President Trump focused on healthcare reform and the DOL stepping up audits, advisers and employers should monitor plans closely.
Suzannah Gill
EPIC