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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.

Illinois attorney general seeks expedited hearing on pension law

By: Meaghan Kilroy, Pensions & Investments

Published December 05, 2014 - 2:41pm CST

Illinois Attorney General Lisa Madigan's office is seeking an expedited state Supreme Court hearing on the state's 2013 pension law after a lower court ruled last month the law was unconstitutional.

House votes to extend multiemployer pension provisions

By: Hazel Bradford, Pensions & Investments

Published December 04, 2014 - 3:56pm CST

Multiemployer pension provisions in the Pension Protection Act of 2006 set to expire Dec. 31 would gain another year in a tax extension passed by the House Wednesday.

Funding of big corporate pension plans slips in November: Milliman

By: Jerry Geisel

Published December 04, 2014 - 3:03pm CST

The funded status of very large pension plans sponsored by public companies slipped in November as falling interest rates, which increased the value of plan liabilities, more than offset investment gains, according to a Milliman Inc. survey released Thursday.

Atlanta pension fund participants appeal lawsuit dismissal to state high court

By: Rob Kozlowski, Pensions & Investments

Published December 04, 2014 - 9:00am CST

A group of participants in the three Atlanta pension funds appealed the dismissal by Fulton County, Georgia, Superior Court of its lawsuit challenging higher employee contributions for pension fund participants.

Large company pension plan funding slips on falling interest rates

By: Jerry Geisel

Published December 03, 2014 - 12:06pm CST

The average funded level of pension plans sponsored by large companies slipped in November as falling interest rates, which boosted the value of plan liabilities, more than offset equity market gains, according to a Mercer L.L.C. survey released Wednesday.

Rhode Island pension reform lawsuit set to go to jury trial April 20

By: James Comtois, Pensions & Investments

Published December 03, 2014 - 8:24am CST

Rhode Island Superior Court Judge Sarah Taft-Carter on Tuesday granted a request by the state's lawyers for a jury trial in the lawsuit challenging Rhode Island's 2011 pension overhaul and set a trial start date of April 20.

TRW completes largest U.K. buyout to date with Legal & General

By: Sophie Baker, Pensions & Investments

Published December 01, 2014 - 9:37am CST

The TRW Pension Scheme, Solihull, England, agreed to a £2.5 billion ($3.9 billion) partial buyout with Legal & General Assurance Society, forming part of a year-long risk transfer project, said David Ellis, U.K. head of bulk pensions insurance at Mercer L.L.C., the lead adviser to the trustee.

New York State Common Retirement Fund returns -0.52% for quarter

By: Robert Steyer

Published November 26, 2014 - 2:46pm CST

New York State Common Retirement Fund, Albany, returned -0.52% for the quarter ended Sept. 30, said Matthew Sweeney, a spokesman for state Comptroller Thomas DiNapoli, the sole trustee of the pension fund.

New Jersey pension system funding plummets under new rule

Published November 26, 2014 - 8:41am CST

(Reuters) — New Jersey's retirement system for public employees is in worse shape than previously reported, thanks to recent accounting changes that are starting to be rolled out across the country.

More companies extending LGBT-inclusive benefits to employees: Survey

By: Matt Dunning

Published November 25, 2014 - 1:48pm CST

The percentage of U.S. companies offering LGBT-inclusive health and retirement benefits continued to grow in 2014, according to new survey data from the Washington-based nonprofit Human Rights Campaign.

Many private health exchange options for post-65 retirees

By: Joanne Wojcik

Published November 23, 2014 - 6:00am CST

There are as many as 100 private exchange options available to employers offering post-65 retiree health benefits, according to research by the Henry J. Kaiser Family Foundation.

Financial wellness programs help workers prepare for retirement

By: Matt Dunning

Published November 23, 2014 - 6:00am CST

Many older employees have delayed retirement in response to investment losses during the prolonged soft economy, motivating some employers to explore more comprehensive financial education resources.

Employees' financial literacy helps employers as workforce ages

By: Matt Dunning

Published November 23, 2014 - 6:00am CST

Despite not bearing any of the direct financial risk associated with 401(k) and other defined contribution retirement plans, many employers provide financial education resources to employees for several reasons.

Legal challenges make employers wary of moving early retirees to public health exchanges

By: Jerry Geisel

Published November 23, 2014 - 6:00am CST

Most employers are taking a wait-and-see approach before sending their early retirees to public exchanges to get health insurance.

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