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Ford pension plan funding holds steady in 2014

By: Jerry Geisel

Published January 29, 2015 - 10:54am CST

The funded status of Ford Motor Co.’s pension plans remained unchanged in 2014 as strong investment returns offset lower interest rates, which increased the value of plan liabilities, the big automaker reported Thursday.

U.S. Supreme Court rules for employer in retiree benefits fight

Published January 26, 2015 - 11:46am CST

(Reuters) — The U.S. Supreme Court on Monday sided with a company that amended a collective bargaining agreement to force retirees to pay toward health care costs.

Timken to buy Prudential annuity for pension benefits

By: Jerry Geisel

Published January 23, 2015 - 11:38am CST

North Canton, Ohio-based bearings and power transmissions manufacturer The Timken Co. said it is buying a group annuity to provide pension benefits to about 5,000 retirees and their beneficiaries.

Employers working hard on healthcare reform, employee benefits

Published January 19, 2015 - 6:00am CST

In our latest In Focus video, we take a look at how the Affordable Care Act is affecting the health care coverage employers are offering to employees and retirees.

Supreme Court to rule on same-sex marriage this term

By: Matt Dunning

Published January 16, 2015 - 4:54pm CST

The U.S. Supreme Court will weigh the question of whether state-level bans on same-sex marriage violate the U.S. Constitution before the end of its current term.

Dallas Salisbury to step down as head of Employee Benefit Research Institute

By: Jerry Geisel

Published January 15, 2015 - 10:42am CST

Dallas Salisbury, the first and only head of the Employee Benefit Research Institute since the organization was launched in 1978, will relinquish that position at the end of 2015 and become EBRI's president emeritus.

PBGC to require employers to report pension risk transfer moves

By: Jerry Geisel

Published January 12, 2015 - 10:12am CST

The PBGC disclosed that employers will be required to report offers they make to plan participants to convert their annuity to a cash lump-sum benefit or shift the obligation to provide the benefits through the employer's purchase of group annuities.

Falling interest rates hit pension plans' funding status: Milliman

By: Jerry Geisel

Published January 07, 2015 - 11:45am CST

The funded status of very large pension plans sponsored by public companies slipped in December as interest rates, which increased the value of plan liabilities, continued to fall, according to a Milliman Inc. survey released Wednesday.

More employers move pre-Medicare retirees to exchanges, high-deductible plans

By: Jerry Geisel

Published January 06, 2015 - 1:43pm CST

Employers are considering a variety of approaches to better control the cost of health care coverage to pre-Medicare eligible retirees — including shifting to high-deductible plans and moving to private or public insurance exchanges.

Interest rates, mortality revisions offset pension plan gains in 2014: Mercer

By: Jerry Geisel

Published January 06, 2015 - 11:45am CST

Lower interest rates and adoption of new mortality tables to reflect longer lifespans more than offset pension plan investment gains, sending plan funding levels plummeting in 2014, according to a Mercer L.L.C. survey released Tuesday.

Lower interest rates, revised mortality tables hit pension plan funding: Survey

By: Jerry Geisel

Published January 05, 2015 - 1:10pm CST

Slammed by lower interest rates and the adoption of new mortality tables with higher longevity assumptions that fueled a big increase in liabilities, the funded status of pension plans sponsored by large companies dropped sharply in 2014.

New York Life Retirement Plan Services being acquired by John Hancock

By: James Comtois, Pensions & Investments

Published December 23, 2014 - 3:47pm CST

New York Life Investment Management will sell its New York Life Retirement Plan Services business, excluding the stable value business, to John Hancock Financial, said NYLIM spokeswoman Sarah Lazarus.

Supreme Court could give definitive ruling on states' rights to ban gay marriage

By: Matt Dunning

Published December 21, 2014 - 6:00am CST

A definitive ruling by the U.S. Supreme Court on states' rights to ban gay marriage could come as early as June 2015, experts say, bringing welcome relief for employers and their benefits management staffs.

Multiemployer pension plan reform bill allows benefit cuts to avoid insolvency

By: Jerry Geisel

Published December 21, 2014 - 6:00am CST

Eleventh-hour congressional action last week ends any imminent risk of the collapse of big, massively underfunded multiemployer pension plans and the federal insurance program that guarantees a portion of participants' benefits, but long-term problems remain.

NCR signs $160 million pension buyout deal

By: Jerry Geisel

Published December 17, 2014 - 11:43am CST

NCR Corp. on Wednesday said it is buying a group annuity to provide pension benefits to about 4,500 retirees and their beneficiaries.

Obama signs multiemployer pension measure into law

By: Jerry Geisel

Published December 17, 2014 - 10:13am CST

President Barack Obama on Tuesday signed into law legislation that will allow trustees of financially distressed multiemployer pension plans to cut participants' benefits to prevent the plans from becoming insolvent.

Lockheed Martin reaches agreement to settle 401(k) fee case

By: Hazel Bradford, Pensions & Investments

Published December 17, 2014 - 8:22am CST

A class action lawsuit brought by employees of Lockheed Martin Corp., Bethesda, Maryland, alleging excessive 401(k) plan fees is in the process of being settled.

Sen. Orrin Hatch calls for retirement savings legislation

By: Hazel Bradford, Pensions & Investments

Published December 16, 2014 - 9:53am CST

Tax incentives for retirement plan sponsors and participants are “under increasing pressure” on Capitol Hill to be reduced, Sen. Orrin Hatch, R-Utah, told the Financial Services Roundtable in Washington on Monday.

European insurance, pension sectors face widespread risks: Report

By: Sarah Veysey

Published December 16, 2014 - 9:18am CST

The weak macroeconomic climate, a prolonged low-interest-rate environment and sovereign credit risk are the key risks for the insurance, reinsurance and occupational pensions industries in Europe.

Congress gives final OK to bill allowing multiemployer pension plan benefit cuts

By: Jerry Geisel

Published December 15, 2014 - 9:20am CST

Trustees of financially distressed multiemployer pension plans would be allowed to cut participants' benefits to prevent the plans from becoming insolvent under legislation given final congressional approval Saturday.

Allegheny Technologies to freeze DB plan for certain employees on Dec. 31

By: Rob Kozlowski, Pensions & Investments

Published December 12, 2014 - 2:47pm CST

Allegheny Technologies Inc., Pittsburgh, announced on Friday it will freeze the benefit accruals of certain participants in its U.S. defined benefit plan on Dec. 31, spokesman Dan Greenfield said.

House approves bill to allow multiemployer pension plan benefit cuts

By: Jerry Geisel

Published December 12, 2014 - 11:36am CST

Trustees of financially distressed multiemployer pension plans would be allowed to cut participants' benefits to prevent the plans from becoming insolvent under legislation narrowly approved by the House of Representatives Thursday night.

Proposed spending bill lets some multiemployer plans cut retiree benefits

By: Hazel Bradford, Pensions & Investments

Published December 10, 2014 - 11:56am CST

Based on a proposal from the Partnership for Multiemployer Retirement Security, a business and labor group, the legislative amendment expected to be approved Wednesday would allow the most distressed multiemployer plans to cut retiree benefits to prevent plans from becoming insolvent and winding up at the Pension Benefit Guaranty Corp. It also increases PBGC premiums to $26 from $13 per...

Business Insurance recognizes its 2014 Women to Watch honorees

Published December 07, 2014 - 6:00am CST

Business Insurance's annual Women to Watch feature recognizes women who are doing outstanding work in commercial insurance, risk and benefits management, and related fields.

Female executives reinforce gender diversity by serving as role models

By: Joanne Wojcik

Published December 07, 2014 - 6:00am CST

Gender diversity in the executive ranks is good for business, research shows.

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