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Most Recent Benefits Management News

Women pay more than men for health care benefits: Mercer

By: Joanne Wojcik

Published October 24, 2014 - 3:40pm CST

Women pay more for health benefits and receive less coverage, according to researchers at Mercer L.L.C.

IRS allows use of annuities in target-date fund series

By: Robert Steyer, Pensions & Investments

Published October 24, 2014 - 3:33pm CST

The Internal Revenue Service on Friday said defined contribution plans’ use of a target-date fund series containing deferred annuities won’t violate IRS rules against DC plans discriminating in favor of higher paid employees, as long as other IRS guidelines are followed.

Daughters of Charity Health System church plan challenged

By: Hazel Bradford, Pensions & Investments

Published October 24, 2014 - 2:39pm CST

Another church-affiliated hospital system is being sued by employees challenging its defined benefit plan’s exemption from federal pension law.

Senators want rules on corporate pension de-risking

By: Jerry Geisel

Published October 23, 2014 - 1:36pm CST

The chairmen of two Senate committees are asking the heads of several federal agencies to develop guidance on one of the hottest defined benefit pension plan trends: employer moves to “de-risk” the plans.

IRS announces maximum 401(k) plan contribution limits for 2015

By: Jerry Geisel

Published October 23, 2014 - 9:55am CST

The maximum contribution that can be made to 401(k) plans in 2015 will rise to $18,000, up from the current $17,500 limit, the Internal Revenue Service announced Thursday.

Ryder latest firm to offer lump-sum cash conversion from annuity

By: Jerry Geisel

Published October 23, 2014 - 9:50am CST

Ryder System Inc. is offering to about 11,000 former employees the opportunity to convert their monthly annuity benefit to a cash lump-sum benefit.

Humana looks to sell urgent care subsidiary Concentra: Sources

Published October 22, 2014 - 1:56pm CST

(Reuters) — Health insurer Humana Inc. is exploring a sale of its urgent care subsidiary Concentra in a deal that could value it at around $1 billion, according to three people familiar with the matter.

New Orleans mayor creates pension reform group to sustain firefighters plan

By: Rob Kozlowski, Pensions & Investments

Published October 22, 2014 - 12:48pm CST

New Orleans Mayor Mitch Landrieu signed an executive order establishing a pension reform working group to recommend changes to the New Orleans Fire Fighters Pension & Relief Fund.

Lockheed Martin to forgo pension contributions in 2015 through 2017

By: Rob Kozlowski, Pensions & Investments

Published October 22, 2014 - 9:48am CST

Lockheed Martin Corp. announced Tuesday it has contributed $1 billion in contributions to its defined benefit plans thus far in 2014 out of an expected $2 billion and does not expect to make further contributions for at least three more years.

Colorado high court upholds COLA reduction for state pension fund

By: Meaghan Kilroy, Pensions & Investments

Published October 21, 2014 - 10:09am CST

The Colorado Supreme Court ruled Monday that the reduction to cost-of-living adjustments for Colorado Public Employees Retirement Association members approved under earlier legislation was constitutional, court documents show.

McConnell's claims on Kentucky exchange, Obamacare baffle experts

By: Darius Tahir, Modern Healthcare

Published October 21, 2014 - 9:59am CST

Senate Minority Leader Mitch McConnell, R-Ky., has made a habit of saying that repealing the ACA would not necessarily mean shutting down Kentucky's popular insurance exchange.

HHS form for health reform law reinsurance fee to be available Friday

By: Jerry Geisel

Published October 21, 2014 - 9:54am CST

A long-awaited form employers will use to provide the HHS with information regulators will need to calculate the amount of a “reinsurance” fee mandated by the health care reform law will be available online starting Friday.

PBGC taking over underfunded plan of manufacturer that filed for bankruptcy

By: Jerry Geisel

Published October 17, 2014 - 10:12am CST

The Pension Benefit Guaranty Corp. said Friday that it is taking over the underfunded pension plan of Reichhold Inc., a Durham, North Carolina-based resin manufacturer that filed for bankruptcy last month.

Ex-PBGC chief Gotbaum joins Brookings Institution

By: Jerry Geisel

Published October 16, 2014 - 1:50pm CST

Joshua Gotbaum, who resigned last month as director of the Pension Benefit Guaranty Corp., Wednesday joined the Brookings Institution, a Washington-based think-tank, as a guest scholar.

Cincinnati health care system freezing pension plans, sweetening 401(k)

By: Jerry Geisel

Published October 16, 2014 - 10:57am CST

TriHealth, a Cincinnati-based health care system, is freezing its three defined benefit pension plans and beefing up its 401(k) plans.

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