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Public employees paying more into pensions

By: Thomson Reuters

Published June 30, 2016 - 9:52am CST

(Reuters) — After years of steady inflows, the rate for retirement contributions by public pension employees has increased and is expected to continue rising, an effect difficult to produce but helped along by the impact of regulatory reforms, analysts say.

Retirement plan administrator settles 401(k) suit with own employees

By: Greg Iacurci, InvestmentNews

Published June 30, 2016 - 9:39am CST

Transamerica Corp. has agreed to settle an excessive-fee lawsuit with participants in its own 401(k) plan for $3.8 million.

Glass products maker buys annuities to shift pension liabilities

By: Jerry Geisel

Published June 28, 2016 - 10:00am CST

PPG Industries is buying group annuity contracts to provide pension benefits to about 13,400 retirees and survivors.

Brexit vote prompts fears over U.K. insurers' capital strength

By: Thomson Retuers

Published June 28, 2016 - 8:49am CST

Market falls triggered by Britain's vote to leave the E.U. could impact British insurers' ability to pay dividends.

Pennsylvania Senate rejects pension reform bill

By: Rick Baert, Pensions & Investments

Published June 27, 2016 - 2:05pm CST

The Pennsylvania Senate on June 23 rejected a state House bill that would have created a hybrid retirement plan for new employees participating in the state employees and teachers defined benefit plans.

401(k) plan assets, target-date funds reach record levels in first quarter

By: Robert Steyer, Modern Healthcare

Published June 24, 2016 - 8:38am CST

The assets of 401(k) plans and of mutual fund target-date funds reached records in the quarter ended March 31, the Investment Company Institute reported Thursday in its quarterly review of retirement assets.

Financial wellness product delves deeper than retirement

By: Joyce Famakinwa

Published June 23, 2016 - 12:53pm CST

Mercer L.L.C said it has launched Mercer Financial Wellness, a digital platform that allows employers to offer employees access to expert providers of financial services.

Pandemic risks have life insurers weighing options

By: Shelby Livingston

Published June 23, 2016 - 11:49am CST

Life insurers are anticipating a surge in the number of epidemics and pandemics in the next decade, but it's unclear if their rates will rise in response.

New investment advice rules stand as veto override falls short

By: Jerry Geisel

Published June 23, 2016 - 9:32am CST

House Republicans have failed — by a wide margin — to overturn President Barack Obama's earlier veto of legislation to block enforcement of final U.S. Labor Department pension plan fiduciary rules.

National pension enhancements derail Ontario plans

By: Gloria Gonzalez

Published June 21, 2016 - 1:55pm CST

Just this month, province had adopted defined benefit plan that would have covered employees that didn't have a plan through work.

MassMutual settles 401(k) suit with employees for $31 million

By: Greg Iacurci, InvestmentNews

Published June 20, 2016 - 10:54am CST

Lawsuits charged insurer with charging excessive fees in its own retirement program.

Reinsurers getting a taste of pension plan de-risking

By: Sarah Veysey

Published June 19, 2016 - 12:01am CST

As companies look to trim their liabilities, carriers stand ready to pick up the slack.

Filling up retirement tanks

By: Bill Barnhart

Published June 19, 2016 - 12:01am CST

Employers stepping in with higher default rates and other measures to keep employees' nest eggs from cracking.

PBGC outlook brightens but not for multiemployer pensions

By: Jerry Geisel

Published June 17, 2016 - 2:07pm CST

Agency projects that the deficit in its single-employer insurance program eventually will disappear.

Tycoon to fix retailer's pensions after admitting mistakes

By: Thomson Reuters

Published June 16, 2016 - 10:22am CST

In detailing payment plan, contrite former owner of BHS Ltd. tells Parliament committee "I'm a big boy, I'm going to take a punch on the chin."

Interest rates nudge up pension plan funding

By: Jerry Geisel

Published June 13, 2016 - 11:36am CST

Aided by a slight increase in interest rates, which lowered plan liabilities, the funded status of very large pension plans sponsored by public companies edged up in May, according to a Milliman Inc. survey released Monday.

Benefits consultant names new CEO

By: Jerry Geisel

Published June 13, 2016 - 11:17am CST

David Blumenstein will become president and CEO of The Segal Group on Oct. 1, the benefit consultant announced Monday.

Mercer CEO gets behind bill to curb PBGC premium hikes

By: Jerry Geisel

Published June 13, 2016 - 9:49am CST

Counting premiums as federal revenue has caused rates to “dramatically increase," Julio Portalatin says.

Moody's, S&P downgrade state again on budget, pension concerns

By: Meaghan Kilroy, Pensions & Investments

Published June 10, 2016 - 8:29am CST

Moody's Investors Service Inc. has downgraded Illinois' credit to Baa2 from Baa1, while Standard & Poor's Corp. lowered its rating to BBB+ from A-.

State top court denies public retiree cost-of-living raises

By: Thomson Reuters

Published June 09, 2016 - 10:51am CST

(Reuters) — The New Jersey Supreme Court ruled on Thursday that retired public employees do not have a contractual right to receive increasing cost-of-living adjustments, a decision that is expected to save the state billions of dollars.

Insurance groups sue Labor Department over fiduciary rule's impact on annuities

By: Mark Schoeff Jr., Pensions & Investments

Published June 09, 2016 - 9:01am CST

Insurance groups filed a lawsuit Wednesday against a U.S. Labor Department rule that would raise investment advice standards for retirement accounts, arguing that the regulation would stifle annuity sales.

Obama veto allows new Labor Department fiduciary rules

By: Jerry Geisel

Published June 08, 2016 - 2:40pm CST

The rules say retirement plan advisers could be at risk of civil penalties if they fail to consider customers' best interests.

State top court to rule in high-stakes public pension case

By: Thomson Reuters

Published June 08, 2016 - 2:30pm CST

(Reuters) — The New Jersey Supreme Court is expected to decide on Thursday whether the state’s 2011 public pension reform improperly froze retirees’ cost-of-living increases, a ruling that could cost the state billions of dollars in new liabilities.

Participants sue over church-plan status for hospital pension fund

By: Hazel Bradford, Pensions & Investments

Published June 08, 2016 - 11:46am CST

Holy Cross Hospital and Sinai Health Systems, Chicago, are being sued by participants of a terminated defined benefit plan who are challenging its church-plan status.

Clock ticking on Cadillac tax repeal

By: Jerry Geisel

Published June 07, 2016 - 3:36pm CST

Time is running out for Congress to act this year on legislation that would repeal the health care reform law's oft-criticized Cadillac tax.

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