Login  |  Register Subscribe

×

Current Issue

Subscriber only, premium content. Saturday, February 28


Retirement Benefits Subscribe to RSS feed for 'Retirement Benefits'

New Jersey recommends freezing state pension fund

By: Rob Kozlowski, Pensions & Investments

Published February 25, 2015 - 9:35am CST

The New Jersey Pension and Health Benefit Study Commission recommended freezing the $76.8 billion New Jersey Pension Fund, Trenton, and creating a new cash balance plan for current and future participants.

More large employers turning to pension de-risking

By: Jerry Geisel

Published February 24, 2015 - 1:59pm CST

Once a rarity, employer efforts to “de-risk” their pension plans are moving into a mainstream corporate benefits approach.

Chicago pension reform lawsuits put on hold

Published February 23, 2015 - 2:20pm CST

(Reuters) — Lawsuits seeking to void a law aimed at shoring up the finances of two Chicago pension funds have been put on hold pending a ruling by the Illinois Supreme Court on a law affecting state public retirement funds, participants in the litigation said on Monday.

Kimberly-Clark buys annuities to cover pension risks

By: Jerry Geisel

Published February 23, 2015 - 12:35pm CST

Kimberly-Clark Corp. is buying two group annuity contracts to provide pension benefits to about 21,000 retirees, the Dallas-based paper goods manufacturer announced Monday.

Lockheed Martin settles 401(k) fees case for $62 million

By: Pensions & Investments

Published February 20, 2015 - 3:21pm CST

Lockheed Martin Corp., Bethesda, Maryland, settled an employee class-action lawsuit over 401(k) plan fees for $62 million Friday.

Supreme Court retirement benefits ruling provides clarity for employers

By: Matt Dunning

Published February 15, 2015 - 6:00am CST

A U.S. Supreme Court ruling should provide some clarity for employers trying to manage costs of their unionized retiree health programs.

Business Insurance accepting nominations for Benefit Manager of the Year®

Published February 15, 2015 - 6:00am CST

Outstanding benefit managers can make a huge difference in their organizations' financial success and the welfare of employees, which is why top benefits staff members should be recognized.

Benefits captives trend led by large, well-known companies

By: Jerry Geisel

Published February 15, 2015 - 6:00am CST

BOCA RATON, Fla. — Large, well-known companies say they use captive insurers to reduce the cost of benefits for employees and retirees, to better analyze what drives claims and to increase flexibility in the benefits they offer.

Artex captive facility covers pension fund longevity risks

By: Matt Dunning

Published February 12, 2015 - 2:28pm CST

Artex Risk Solutions Inc. on Thursday announced the launch of Iccaria, a captive facility for midsize and large pension funds’ longevity risks.

Hospira pays $22M in lump sums to former employees

By: Rob Kozlowski, Pensions & Investments

Published February 12, 2015 - 11:48am CST

Hospira Inc., Lake Forest, Illinois, in the fourth quarter paid out $22 million in lump sums to former employees participating in one of its U.S. defined benefit plans who have yet to retire, the company announced Thursday in its 10-K filing.

Corporate retirement plans near tipping point

By: Barry B. Burr, Pensions & Investments

Published February 10, 2015 - 11:34am CST

Corporate defined contribution assets soon will overtake those of corporate defined benefit plans — and that could change everything.

Alcatel-Lucent to expand lump-sum offer to 32,000 more participants

By: Rob Kozlowski, Pensions & Investments

Published February 06, 2015 - 2:40pm CST

Alcatel-Lucent, Murray Hill, New Jersey, announced Friday it plans to extend an offer of an immediate lump-sum payment to about 32,000 retirees and former employees in its U.S. Inactive Occupational Pension Plan.

Largest employer pension plans see funding dive

By: Jerry Geisel

Published February 05, 2015 - 12:32pm CST

The funded status of very large pension plans sponsored by public companies fell sharply in January as tumbling interest rates boosted the value of plan liabilities, according to a Milliman Inc. survey released Thursday.

Obama proposes more retirement plan access, tax savings cap

By: Hazel Bradford, Pensions & Investments

Published February 03, 2015 - 9:10am CST

President Barack Obama's fiscal year 2016 budget proposal released Monday calls for expanding access to retirement savings in the workplace while capping the tax-favored accumulation of all private retirement assets.

Employers returning to fast track for captive benefits funding requests

By: Jerry Geisel

Published February 01, 2015 - 6:00am CST

For the first time since 2012, employers are taking advantage of a fast-track procedure to gain U.S. Department of Labor approval of paying for employee benefits through their captive insurance companies.

Ford pension plan funding holds steady in 2014

By: Jerry Geisel

Published January 29, 2015 - 10:54am CST

The funded status of Ford Motor Co.’s pension plans remained unchanged in 2014 as strong investment returns offset lower interest rates, which increased the value of plan liabilities, the big automaker reported Thursday.

U.S. Supreme Court rules for employer in retiree benefits fight

Published January 26, 2015 - 11:46am CST

(Reuters) — The U.S. Supreme Court on Monday sided with a company that amended a collective bargaining agreement to force retirees to pay toward health care costs.

Timken to buy Prudential annuity for pension benefits

By: Jerry Geisel

Published January 23, 2015 - 11:38am CST

North Canton, Ohio-based bearings and power transmissions manufacturer The Timken Co. said it is buying a group annuity to provide pension benefits to about 5,000 retirees and their beneficiaries.

Employers working hard on healthcare reform, employee benefits

Published January 19, 2015 - 6:00am CST

In our latest In Focus video, we take a look at how the Affordable Care Act is affecting the health care coverage employers are offering to employees and retirees.

Supreme Court to rule on same-sex marriage this term

By: Matt Dunning

Published January 16, 2015 - 4:54pm CST

The U.S. Supreme Court will weigh the question of whether state-level bans on same-sex marriage violate the U.S. Constitution before the end of its current term.

Dallas Salisbury to step down as head of Employee Benefit Research Institute

By: Jerry Geisel

Published January 15, 2015 - 10:42am CST

Dallas Salisbury, the first and only head of the Employee Benefit Research Institute since the organization was launched in 1978, will relinquish that position at the end of 2015 and become EBRI's president emeritus.

PBGC to require employers to report pension risk transfer moves

By: Jerry Geisel

Published January 12, 2015 - 10:12am CST

The PBGC disclosed that employers will be required to report offers they make to plan participants to convert their annuity to a cash lump-sum benefit or shift the obligation to provide the benefits through the employer's purchase of group annuities.

Falling interest rates hit pension plans' funding status: Milliman

By: Jerry Geisel

Published January 07, 2015 - 11:45am CST

The funded status of very large pension plans sponsored by public companies slipped in December as interest rates, which increased the value of plan liabilities, continued to fall, according to a Milliman Inc. survey released Wednesday.

More employers move pre-Medicare retirees to exchanges, high-deductible plans

By: Jerry Geisel

Published January 06, 2015 - 1:43pm CST

Employers are considering a variety of approaches to better control the cost of health care coverage to pre-Medicare eligible retirees — including shifting to high-deductible plans and moving to private or public insurance exchanges.

Interest rates, mortality revisions offset pension plan gains in 2014: Mercer

By: Jerry Geisel

Published January 06, 2015 - 11:45am CST

Lower interest rates and adoption of new mortality tables to reflect longer lifespans more than offset pension plan investment gains, sending plan funding levels plummeting in 2014, according to a Mercer L.L.C. survey released Tuesday.

More »