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.

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.

Activity is set to rise in the coming year as companies deal with retirement accounts.

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.

Workers who withdraw from their 401(k) plan lose about 25% in compounded growth.

Workers who withdraw from their 401(k) plan lose about 25% in compounded growth.

State-government mismanagement, especially of pensions, has already created a danger that federal bailouts will become inevitable.

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.

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.

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.

With President Trump focused on healthcare reform and the DOL stepping up audits, advisers and employers should monitor plans closely.