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IRS bumps up maximum interest rate for cash balance plans

By: Jerry Geisel

Published September 19, 2014 - 2:00pm CST

Final Internal Revenue Service regulations will allow cash balance pension plan sponsors to use slightly higher rates when crediting interest to employees’ account balances.

Marietta, Georgia, extends pension benefits to married same-sex couples

By: Matt Dunning

Published September 12, 2014 - 2:25pm CST

The city of Marietta, Georgia, has extended spousal benefits under its pension plan to legally wed same-sex couples.

State, local pension funding stabilizes in 2013

By: Hazel Bradford, Pensions & Investments

Published September 11, 2014 - 9:24am CST

Pension funding at both the state and local levels appears to be stabilizing, according to the 12th annual public pension funding review announced Wednesday by Loop Capital Markets.

Standard Life to freeze its pension plan in 2016

By: Sophie Baker, Pensions & Investments

Published September 09, 2014 - 3:21pm CST

Standard Life P.L.C., Edinburgh, is freezing its U.K. defined benefit plan in April 2016 to mitigate risk and increasing costs associated with running the pension fund in the future.

U.K. pension funding deficit doubles in August

Published September 09, 2014 - 11:24am CST

(Reuters) — A funding shortfall in Britain's private-sector defined benefit pension plans has more than doubled over the past year to reach 170.6 billion ($278.54 billion) at the end of August.

Pension funding drops in August for largest public companies

By: Jerry Geisel

Published September 08, 2014 - 2:41pm CST

The funded status of very large pension plans sponsored by publicly held companies slipped in August as falling interest rates, which increased the value of plan liabilities, more than offset investment gains.

Appeals court upholds gay marriage rights in Indiana, Wisconsin

By: Matt Dunning

Published September 04, 2014 - 5:16pm CST

The 7th U.S. Circuit Court of Appeals in Chicago ruled unanimously Thursday in favor of gay and lesbian couples seeking equal marriage rights and benefits in Indiana and Wisconsin.

Large firms continue moving away from defined benefit plans: Survey

By: Jerry Geisel

Published September 04, 2014 - 8:18am CST

The number of defined benefit pension plans sponsored by the nation's largest corporations continues to dwindle.

Some pension plans in danger, others need flexibility: PBGC chief

By: Jerry Geisel

Published September 03, 2014 - 2:56pm CST

In his last day as director of the Pension Benefit Guaranty Corp., Joshua Gotbaum warned of dire consequences unless Congress acts to shore up financially ailing multiemployer pension plans.

Pension rules should be updated: Senate Finance Committee chairman

By: Jerry Geisel

Published September 03, 2014 - 12:18pm CST

The chairman of the Senate Finance Committee says it is time to update pension plan rules to ensure greater retirement income security for employees.

Congress faces pressure to resolve multiemployer pension woes

By: Jerry Geisel

Published August 31, 2014 - 6:00am CST

When federal lawmakers passed the Employee Retirement Income Security Act in 1974, they put aside a key issue affecting a big slice of the pension universe: multiemployer plans.

Landmark ERISA pension reform law sees mixed results 40 years after implementation

By: Jerry Geisel

Published August 31, 2014 - 6:00am CST

Forty years after President Gerald Ford signed the first comprehensive pension reform bill into law, the Employee Retirement Income Security Act has produced successes and failures.


Published August 31, 2014 - 6:00am CST

Since ERISA was enacted 40 years ago, lawmakers have made numerous changes to the statute. This slideshow chronicles some key revisions and amendments.

Brink's offers lump-sum payment to former employees

By: Rob Kozlowski, Pensions & Investments

Published August 29, 2014 - 4:32pm CST

The Brink's Co., Richmond, Va., announced on Friday it has offered certain former employees who are vested in its U.S. defined benefit plan the option to accept a lump sum.

Aon Hewitt adding voluntary benefit options to private health exchange

By: Matt Dunning

Published August 28, 2014 - 9:57am CST

Aon Hewitt on Thursday said it is planning to add voluntary benefit plans to the menu of coverages available through its private health insurance exchange, largely due to rising employer demand for a wider variety of exchange-based benefit options.

Pension contribution changes part of Philadelphia's deal with union

By: James Comtois, Pensions & Investments

Published August 25, 2014 - 4:23pm CST

Philadelphia reached a tentative seven-year contract agreement with the representatives from the city's largest municipal workers' union, AFSCME District Council 33.

CMS to launch Medicare set-aside calculator for prescription drug costs

By: Sheena Harrison

Published August 25, 2014 - 12:43pm CST

Online tool would allow workers compensation claim payers to determine how much money should be allocated for prescription drugs in Medicare set-aside accounts.

Judge strikes down Florida ban on same-sex marriage

By: Matt Dunning

Published August 22, 2014 - 12:13pm CST

A federal judge has struck down Florida's ban on same-sex marriage.

California governor decries Calpers vote on pensions

Published August 20, 2014 - 2:46pm CST

(Reuters) — California Gov. Jerry Brown decried a move by the state's giant public pension fund on Wednesday to include temporary pay hikes in the way pensions are calculated for newly hired workers.

Washington state high court rules pension benefit reductions constitutional

By: Rob Kozlowski, Pensions & Investments

Published August 20, 2014 - 10:11am CST

The Washington State Supreme Court upheld as constitutional two bills passed by the state Legislature in 2007 and 2011 that reduced benefits for some participants in several of the state's pension funds.

Calpers set to allow 100 extra pay types count toward pensions

Published August 20, 2014 - 9:14am CST

(Reuters) — The California Public Employees' Retirement System, America's largest public pension fund, is expected to approve nearly 100 types of extra pay on Wednesday.

Corporate pension plan funding inches down in July

By: Meaghan Kilroy, Pensions & Investments

Published August 18, 2014 - 10:08am CST

The funded status of the 100 largest U.S. corporate pension plans dropped to 85% in July, down from 85.3% in June, said the latest Milliman 100 Pension Funding index.

Kodak bucks trend and enhances pension plan while eliminating 401(k) match

By: Jerry Geisel

Published August 17, 2014 - 6:00am CST

Employers are expected to examine Eastman Kodak Co.'s counter-trend move to sweeten its defined benefit pension plan and eliminate its 401(k) plan match.

Cox Enterprises ordered to pay $13.9M to PBGC for News-Journal pension plan

By: Hazel Bradford, Pensions & Investments

Published August 14, 2014 - 8:40am CST

Cox Enterprises Inc. will have to give the Pension Benefit Guaranty Corp. $13.9 million to cover the unfunded pension liabilities of News-Journal Corp., a federal district judge in Florida ruled.

Stockton, Calif., amends bankruptcy plan, but pension issue hovers

Published August 13, 2014 - 9:41am CST

(Reuters) — The bankrupt city of Stockton, California, has submitted a revised plan to exit Chapter 9 that reflects a ruling over the value of a holdout creditor's collateral, but a question still looms over whether public pensions will be cut.

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