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Retirement Benefits Subscribe to RSS feed for 'Retirement Benefits'

Federal health insurance exchange signs up 1.6 million since Nov.1

By: Jerry Geisel

Published November 25, 2015 - 12:45pm CST

More than 1.6 million individuals signed up for health insurance plans through the federal exchange, the Centers for Medicare and Medicaid Services reported.

Lufthansa, union nearing agreement on pension changes

By: Thomson Reuters

Published November 25, 2015 - 9:56am CST

(Reuters) — The main cabin crew union at Lufthansa has called off a strike planned for this week after progress was made in talks with management over retirement and pension benefits.

Timken completes second annuity buyout with Prudential

By: Rob Kozlowski, Pensions & Investments

Published November 24, 2015 - 8:41am CST

Timken Co., Canton, Ohio, purchased a second group annuity contract from Prudential Insurance Co. of America to pay future pension benefits for about 3,400 U.S. salaried retirees, said Clark Harvey, company spokesman, in an email.

Ashland pays out $475 million as part of lump-sum, reduced annuity offer

By: Meaghan Kilroy, Pensions & Investments

Published November 23, 2015 - 3:10pm CST

Ashland Inc., Covington, Kentucky, announced it paid out $475 million to participants in its U.S. defined benefit plans who accepted the company’s lump-sum or immediate reduced annuity offer, said a recent 10-K filing with the Securities and Exchange Commission.

FSA rollover to retirement plan proposal introduced

By: Jerry Geisel

Published November 23, 2015 - 2:39pm CST

Those unused FSA funds may no longer go to waste if legislation introduced in the House of Representatives last week gets passed.

Moody's sounds the alarm on premium hikes for multiemployer pension plans

By: Jerry Geisel

Published November 23, 2015 - 2:28pm CST

Looming big increases in multiemployer pension plan insurance premiums will be “credit negative” for participating employers, according to a Moody’s Investors Service Inc. report.

Underwriters address cyber issues

By: Judy Greenwald

Published November 22, 2015 - 6:00am CST

DALLAS — Companies are dealing with a patchwork of different state cyber privacy regulations, while prospects remain dim for national cyber legislation.

Premium hikes raise questions of motives, PBGC's future

By: Jerry Geisel

Published November 22, 2015 - 6:00am CST

Deborah Forbes was stunned when she learned that a budget deal congressional leaders and the Obama administration hammered out included provisions that again boost insurance premiums employers must pay the Pension Benefit Guaranty Corp.

Teamsters' move to cut benefits offers hope for flagging multiemployer pensions

By: Jerry Geisel

Published November 22, 2015 - 6:00am CST

The Central States Teamsters pension plan is paving the way for other financially troubled multiemployer plans to cut participants' benefits as a means for survival.

Despite PBGC deficit, sharp premium hikes stir opposition

By: Shelby Livingston

Published November 18, 2015 - 12:45pm CST

Increases to premiums employers pay to the PBGC have been implemented to help cover the organization's record high deficit, however, critics say the hikes threaten the defined benefit pension system itself.

Hybrid pension sponsors catch a break on interest-crediting transition

By: Shelby Livingston

Published November 18, 2015 - 10:29am CST

Final IRS regulations on hybrid pension plans give plan sponsors another year to bring interest-crediting rates down to market value.

PBGC deficit hits record high at $76.4 billion

By: Shelby Livingston

Published November 17, 2015 - 3:34pm CST

The Pension Benefit Guaranty Corp.'s deficit jumped nearly 24% in fiscal 2015 to a record high of $76.4 billion, the agency announced Tuesday.

Chicago in tough battle to overturn ruling on pension reforms

Published November 17, 2015 - 1:42pm CST

(Reuters) — Chicago tried to convince a sometimes skeptical Illinois Supreme Court on Tuesday that a 2014 law deserves to survive a constitutional challenge because it aims to save two of the city’s retirement funds from insolvency by guaranteeing adequate funding.

Pension reform, not E.U. capital rules, may influence U.K. insurer headquarters

By: Thomson Reuters

Published November 17, 2015 - 9:39am CST

(Reuters) — The future profitability of the pensions market will determine whether insurers keep their head offices in Britain rather than tougher new European Union capital rules, a top Bank of England official said Tuesday.

Benefits council head urges lawmakers to rethink PBGC premium hike

By: Shelby Livingston

Published November 16, 2015 - 12:07pm CST

In a letter, James A. Klein objects to higher assessments on employers included in recent budget legislation.

First week of HealthCare.gov enrollment exceeds half million

By: Bob Herman, Modern Healthcare

Published November 13, 2015 - 10:22am CST

More than 540,000 people selected a health plan on the federal HealthCare.gov exchange during the first week.

Week in pictures

Published November 13, 2015 - 9:58am CST

Brazil takes the lead in the Business Insurance week in pictures. But there's much more.

Grandkids emerge as retirement security risk

Published November 10, 2015 - 3:21pm CST

Grandchildren, once thought to be harmless, have emerged as a potentially devastating threat to pension plans everywhere.

Large pension plan funding improves to 83.3% in October

By: Jerry Geisel

Published November 09, 2015 - 11:57am CST

With strong investment returns, the funded status of very large pension plans rose in October, according to a recent Milliman Inc. survey.

401(k) account balances drop in 3rd quarter due to equities plunge

By: Jerry Geisel

Published November 09, 2015 - 9:49am CST

Balances fell 7.4% during the third quarter due to the August plunge in the equities markets, Fidelity Investments said.

403(b) plans expanding their reach

By: Jerry Geisel

Published November 08, 2015 - 6:00am CST

Often overshadowed by their far better-known cousins — 401(k) plans — 403(b) plans are playing an increasingly important role in providing retirement benefits to millions of employees.

Funding of multiemployer pension plans dips

By: Shelby Livingston

Published November 06, 2015 - 1:34pm CST

Multiemployer pension plan funding levels declined slightly in the first six months of this year, hampered by poor investment returns, according to a report released Friday.

Lufthansa flights hit as crews strike over pensions

Published November 06, 2015 - 9:27am CST

(Reuters) — German airline Lufthansa canceled hundreds of flights on Friday after cabin crew union UFO announced a walkout on flights from Frankfurt and Duesseldorf that could start the longest ever strike action at the carrier.

Most employees satisfied with benefits but worry about long-term costs

By: Matt Dunning

Published November 05, 2015 - 2:56pm CST

Two-thirds of U.S. employees say they're satisfied with their employer-sponsored health benefits, but nearly as many are worried about the affordability of those benefits.

Boeing to pay $57 million to settle 401(k) lawsuit

By: Thomson Reuters

Published November 05, 2015 - 12:59pm CST

Boeing Co. has agreed to pay $57 million to settle a lawsuit over its mismanagement of employees' 401(k) retirement plans.

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