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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.

Public exchange premium subsidies could reduce health costs for pre-Medicare retirees

By: Jerry Geisel

Published November 23, 2014 - 6:00am CST

Thanks to the health care reform law, lower-income pre-Medicare eligible retirees no longer are big losers if their former employers terminate health care coverage.

Employers moving post-65 retirees to private health insurance exchanges

By: Joanne Wojcik

Published November 23, 2014 - 6:00am CST

A growing number of employers that offer health insurance to post-65 retirees are turning to private exchanges since the health care reform law took effect to provide coverage on an individual basis, often at a lower cost than their group plans could.

Judge rules Illinois pension reform law is unconstitutional

By: Meaghan Kilroy, Pensions & Investments

Published November 21, 2014 - 2:47pm CST

A Sangamon County, Illinois, Circuit Court judge ruled Friday that Illinois’ pension reform law passed last year is unconstitutional.

401(k) auto-enrollment growing in popularity with employers

By: Jerry Geisel

Published November 21, 2014 - 10:55am CST

More employers are adding automatic enrollment features to their 401(k) and other defined contribution plans, according to a survey.

New London firefighters drop DC plan, join Connecticut retirement system

By: James Comtois, Pensions & Investments

Published November 20, 2014 - 8:35am CST

New London, Connecticut, firefighters are back to participating in a municipal defined benefit plan after being in a 401(a) defined contribution plan for 17 years.

PBGC deficit hits record $61.7B in 2014

By: Jerry Geisel

Published November 17, 2014 - 1:12pm CST

The Pension Benefit Guaranty Corp.'s deficit hit a record $61.7 billion in fiscal 2014, the agency said Monday.

Employer communications about health, retirement benefits lag: Survey

By: Matt Dunning

Published November 13, 2014 - 3:19pm CST

While a majority of employers say they want to improve their employees' understanding in health and retirement benefits, a recent survey says less have implemented the necessary communication strategies.

About 70% take Magnetek pension annuity conversion offer

By: Jerry Geisel

Published November 13, 2014 - 1:48pm CST

Magnetek Inc. disclosed Wednesday that about 70% of its former employees who were vested but not receiving pension benefits accepted the company's offer to convert their future monthly annuities to cash lump-sum benefits.

Funding of very large pension plans drops in October: Milliman

By: Jerry Geisel

Published November 10, 2014 - 11:09am CST

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

401(k) plan account balances up sharply over 2013: Analysis

By: Jerry Geisel

Published November 06, 2014 - 2:23pm CST

Aided by a robust equities market, employees' 401(k) plan account balances are substantially higher than they were a year ago, according to an analysis released Thursday by Fidelity Investments.

Buck program aims to help employees increase financial, retirement savvy

By: Shelby Livingston

Published November 06, 2014 - 12:18pm CST

Buck Consultants at Xerox Corp. has launched SavIncent, a financial wellness program designed to improve employees' financial health and promote retirement readiness.

Benefits broker Terrill launches own health benefits exchange

By: Matt Dunning

Published November 05, 2014 - 3:22pm CST

J. W. Terrill Inc. has launched its own private health benefits exchange, the St. Louis-based insurance and benefits broker announced on Wednesday.

Large companies' pension plan funding stable in October

By: Jerry Geisel

Published November 05, 2014 - 1:29pm CST

The average funded level of pension plans sponsored by large companies held steady in October as falling interest rates, which boosted the value of plan liabilities, offset equity market gains.

Aon Hewitt unveils new health plan design for retirees

By: Jerry Geisel

Published October 30, 2014 - 3:31pm CST

A new retiree health care benefits design unveiled by Aon Hewitt and linked to its private health insurance exchange will give Medicare-eligible retirees greater financial incentives to select more cost-effective plans.

Hartford offering to convert monthly annuity to cash lump sum

By: Jerry Geisel

Published October 28, 2014 - 5:21pm CST

Hartford Financial Services Inc. is offering 13,500 former employees the opportunity to convert their future monthly annuity into a cash lump sum.

Boeing offers lump-sum, immediate annuity options to 40,000 former employees

By: Barry B. Burr, Pensions & Investments

Published October 28, 2014 - 3:04pm CST

Boeing Co. is offering an option of a lump-sum payout or an annuity to 40,000 former employees who have not yet retired, the first time the Chicago-based company has offered such choices from its existing defined benefit plans.

PBGC $284K payout start of millions for ailing multiemployer pension plans

By: Jerry Geisel

Published October 28, 2014 - 2:41pm CST

The Pension Benefit Guaranty Corp. said Tuesday it has paid out more than $284,000 — the first of what will be millions of dollars in payments — to cover benefits for 365 participants in two insolvent multiemployer pension plans.

PBGC takes over food wholesaler’s pension plan; warns of 2015 rate hikes

By: Jerry Geisel

Published October 27, 2014 - 3:03pm CST

The Pension Benefit Guaranty Corp. has taken over the underfunded pension plan of White Rose Inc., an independent Carteret, New Jersey-based independent food wholesaler that filed for Chapter 11 bankruptcy last month and now is selling off assets.

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