Pensions

The Pension Benefit Guaranty Corporation is waiving penalties and extending pension premium deadlines in response the disaster in Texas.

The Pension Benefit Guaranty Corporation is waiving penalties and extending pension premium deadlines in response the disaster in Texas.

Debt to states workers’ retirement system has soared by $33.4 billion, or $6,000 for every resident, courtesy of accounting rules.

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.

Changes in interest rates, healthcare costs and investment returns have spurred the company to make the move beginning in 2028.

UPS will freeze a pension plan because of escalating costs and volatility in determining future payments, replacing it with a different retirement benefit.

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.

Many carriers offering long-term care coverage are experiencing financial woes and may no longer guarantee payments when clients need them.

Many carriers offering LTC coverage are experiencing financial woes and may no longer guarantee payments when clients need them.

Plan sponsors should keep an eye on tax reform changes that could impact plans, experts say.