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Biggest pensions flat in July but off from year ago

By: Jerry Geisel

Published August 08, 2016 - 11:48am CST

The funded status of very large pension plans sponsored by public companies stayed nearly even as solid investment returns largely offset falling interest rates, which boosted plan liabilities, according to a Milliman Inc. survey released Monday.

Tire manufacturer makes lump-sum offer to former employees

By: Rob Kozlowski, Pensions & Investments

Published August 05, 2016 - 9:06am CST

Cooper Tire & Rubber Co., Findlay, Ohio, offered a lump-sum window to about 1,200 former vested employees who have yet to retire, the company announced in a 10-Q filing with the U.S. Securities and Exchange Commission on Thursday.

Benefits administrators merge to serve broader market

By: Joyce Famakinwa

Published August 04, 2016 - 4:06pm CST

Middle-market benefits administration platform Benefit Express Services L.L.C. said Thursday that it has acquired online benefits enrollment administrator BenefitsConnect.

Benefits Dashboard overview

Published August 04, 2016 - 2:03pm CST

Our guide helps you keep track of the latest developments in employee benefits.

Employer settles $58.5 million in pension liabilities on lump-sum offer

By: Rob Kozlowski, Pensions & Investments

Published August 04, 2016 - 1:54pm CST

Mueller Water Products Inc., Atlanta, settled $58.5 million in U.S. pension plan liabilities as a result of a lump-sum offer to terminated vested participants who have yet to retire, the company announced in an 8-K filing with the U.S. Securities and Exchange Commission on Thursday.

Benefits dashboard

Published August 04, 2016 - 12:31pm CST

Our guide helps you keep track of the latest developments in employee benefits.

PBGC multiemployer pension program could be broke by 2025

By: Jerry Geisel

Published August 04, 2016 - 11:09am CST

The Pension Benefit Guaranty Corp.’s insurance program that partially guarantees benefits promised to multiemployer pension plan participants is projected to become insolvent by 2025, according to the latest government estimates.

Chicago mayor's plan to fix municipal pension fund seeks water, sewer tax

By: Thomson Reuters

Published August 04, 2016 - 9:10am CST

(Reuters) — Chicago Mayor Rahm Emanuel unveiled a plan on Wednesday that he called “an honest approach” to save the city’s biggest retirement system from insolvency with a water and sewer tax to be phased in over five years starting in 2017.

Claims data nudges firms to fund benefits through captives

By: Jerry Geisel

Published August 03, 2016 - 1:42pm CST

Employers say improving claims data was the key driver that led them to fund employee benefit risks through their captive insurers, according to a survey released Wednesday.

Funding of large firms' pensions nudged upward in July

By: Jerry Geisel

Published August 03, 2016 - 1:01pm CST

Aided by a rise in the equity markets that more than offset lower interest rates, the funded status of pension plans sponsored by large employers rose slightly in July, Mercer L.L.C. reported Wednesday.

Workers' 401(k) balances inch up in second quarter

By: Jerry Geisel

Published August 02, 2016 - 9:33am CST

Retirement accounts were impacted by "especially dramatic" market volatility in recent months, Fidelity Investments said.

Scholastic Corp. terminates cash balance plan

By: Rob Kozlowski, Pensions & Investments

Published July 29, 2016 - 1:44pm CST

Scholastic Corp., New York, terminated its U.S. cash balance plan, its recent 10-K filing with the Securities and Exchange Commission shows.

Costs to set up now-halted pension plan top $50 million

By: Gloria Gonzalez

Published July 28, 2016 - 3:13pm CST

Officials spent up to CA$70 million ($53.5 million) preparing a pension plan for Ontario that will never be activated because a subsequent agreement will enhance Canada’s national pension program, according to a newly released estimate.

NBA players union to fund health coverage for retirees

By: Shelby Livingston

Published July 28, 2016 - 2:46pm CST

The union for National Basketball Association players will begin funding health insurance for retired athletes who played at least three years in the league.

More employers eye annuities for defined contribution plans

By: Jerry Geisel

Published July 28, 2016 - 2:18pm CST

While only a small percentage of employers with defined contribution plans give participants the option to convert their lump-sum benefit into an annuity, that percentage is expected to rise, according to a new survey.

Catholic health system pension plan ruled subject to ERISA

By: Erica Teichert | Modern Healthcare

Published July 27, 2016 - 9:51am CST

Dignity Health's pension plan must comply with federal rules despite the system's faith-based background, the Ninth Circuit court says.

Health systems ask Supreme Court to rule on pension plans

By: Lisa Schencker, Modern Healthcare

Published July 26, 2016 - 9:33am CST

Two health systems want the U.S. Supreme Court to weigh in on whether their pension plans should be exempt from certain federal protections for workers.

Retirement security at top of wish lists for next president

By: Hazel Bradford, Pensions & Investments

Published July 25, 2016 - 9:20am CST

Whether Hillary Clinton or Donald Trump wins, retirement issues should be on the president's desk.

New York Life sued by employees claiming excessive 401(k) fees

By: Greg Iacurci, InvestmentNews

Published July 21, 2016 - 4:14pm CST

Suits question inclusion of an S&P 500 index fund owned and operated by the insurer in its retirement plans.

Medicaid expansion in holdout states would insure millions

By: Jerry Geisel

Published July 19, 2016 - 3:33pm CST

If the remaining 19 states that have not expanded Medicaid do so next year, millions of uninsured individuals would gain coverage, according to an analysis released Tuesday.

GM can offset workers comp benefits with Social Security disability

By: Donna Mahoney

Published July 18, 2016 - 3:09pm CST

GM and the UAW agreed the automaker can use disability pension benefits to reduce workers comp benefits for all workers.

Q&A: Julio A. Portalatin, Mercer L.L.C.

Published July 17, 2016 - 12:01am CST

Federal lawmakers over the past few years have repeatedly raised premiums employers with pension plans pay the Pension Benefit Guaranty Corp. Julio A. Portalatin, president and CEO of Mercer L.L.C. in New York, discusses what's driving those premium hikes and the negative consequences of escalating premiums in an interview with Business Insurance Editor-at-Large Jerry Geisel. Edited excerpts...

Bill would take PBGC premiums 'off budget'

By: Jerry Geisel

Published July 15, 2016 - 11:58am CST

Legislation would end a widely reviled “gimmick” of increasing the premiums employers pay to the Pension Benefit Guaranty Corp.

Berkshire Hathaway pension freeze suit can continue

By: Jerry Geisel

Published July 15, 2016 - 9:03am CST

Employees of a company bought by Berkshire Hathaway can sue Berkshire on the grounds that it violated ERISA law, a court says.

Employment-based health coverage remains steady

By: Jerry Geisel

Published July 13, 2016 - 1:39pm CST

Contrary to early predictions, the percentage of employees with health care coverage remained steady after the ACA took effect.

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