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Employers interested in moving retirees to public exchanges, Mercer says

By: Jerry Geisel

Published July 02, 2015 - 11:36am CST

Nearly half — 45% — of employers that offer health care coverage to pre-Medicare eligible retirees say they are considering or already have begun directing the retirees to public exchanges, according to a new Mercer L.L.C. survey.

Nestle to close U.K. pension plan

By: Timothy Pollard, Pensions & Investments

Published July 02, 2015 - 9:26am CST

Nestle U.K. announced Thursday it would close its defined benefit pension scheme, replacing it with a defined contribution plan.

Who controls the data? Supreme Court to hear health care case

By: Lisa Schencker, Modern Healthcare

Published June 30, 2015 - 8:22am CST

The U.S. Supreme Court will hear a case next term on whether a self-funded employer should have to turn over certain information to the state of Vermont — a case that could have far-reaching implications.

Domestic partner benefits could change in wake of same-sex ruling

By: Matt Dunning

Published June 26, 2015 - 2:45pm CST

The nationwide legalization of same-sex marriage could prompt some employers to drop health care and retirement benefits for their employees' domestic partners, experts say.

Same-sex marriage: The ruling

Published June 26, 2015 - 1:46pm CST

The Supreme Court on Friday ruled 5-4 that the right to marry is constitutionally protected, regardless of whether the couple is a man and a women or two men or two women.

Week in pictures

Published June 26, 2015 - 10:41am CST

From key Supreme Court rulings and Anthem's relentless pursuit of Cigna to the latest spate of violent weather and the Benefits Manager of the Year®, it's been a full week at Business Insurance.

High court upholds same-sex marriage rights

By: Matt Dunning

Published June 26, 2015 - 9:49am CST

The U.S. Supreme Court on Friday declared that gay and lesbian couples are entitled to the same spousal rights and benefits as opposite-sex couples.

Enrollment in high-deductible plans continues to rise

By: Jerry Geisel

Published June 24, 2015 - 11:57am CST

Enrollment in high-deductible health insurance plans, including consumer-driven health plans, continues to climb, the National Center for Health Statistics said in a report Tuesday.

Illinois bill delaying Chicago school pension payment advances

Published June 23, 2015 - 1:49pm CST

(Reuters) — An Illinois House committee Tuesday approved a bill that would give the cash-strapped Chicago Public Schools an extra 40 days to make a $634 million payment to its pension fund.

Crawford & Co.'s Bonnie Sawdey named Benefit Manager of the Year®

Published June 21, 2015 - 6:00am CST

In the latest episode of In Focus, we talk to Business Insurance's 2015 Benefit Manager of the Year®, Bonnie Sawdey, vice president of human resources at Atlanta-based Crawford & Co.

Retirement savings matter for all employees

By: Judy Greenwald

Published June 21, 2015 - 6:00am CST

AT&T Inc.'s Your Money Matters program helps pave the way for its workers' retirement, according to Marty Webb, vice president of benefits in Dallas.

Planning, communication smooth shift of retirees to health exchange

By: Judy Greenwald

Published June 21, 2015 - 6:00am CST

One of the major accomplishments of Marty Webb's tenure as vice president of benefits at AT&T Inc. in Dallas has been engineering the largest transition to a private health care exchange in the market to date.

Crawford & Co. sees benefits from shifting retiree health coverage strategy

By: Jerry Geisel

Published June 21, 2015 - 6:00am CST

While Crawford & Co. stopped offering health care coverage to employees who retired after the end of 1988, it continued the benefit to employees who had completed 20 years of service as of Dec. 31, 1988.

Response to pension lump-sum offer exceeds expectations

By: Jerry Geisel

Published June 21, 2015 - 6:00am CST

Crawford & Co. was not the first company to offer former employees the option to convert their future monthly pension annuity benefit to a cash lump sum.

Crawford ahead of trend in freezing pension plans

By: Jerry Geisel

Published June 21, 2015 - 6:00am CST

When it comes to defined benefit pension plans, the biggest corporate trend has been the move of employers to freeze the plans, with participants no longer earning future benefits.

Target funds' rewards trump risks, but informed employees are key

By: Shelby Livingston

Published June 21, 2015 - 6:00am CST

While target date funds provide amateur investors with an easy way to save, critics argue many investors don’t understand the risks.

Right on target?

By: Shelby Livingston

Published June 21, 2015 - 6:00am CST

As assets in so-called autopilot investments continue to soar, so does the responsibility of the plan's sponsor to choose the appropriate fund for its employees.

GM's massive annuity dwarfs all others

By: Jerry Geisel

Published June 21, 2015 - 6:00am CST

When General Motors Co. announced that it was purchasing a group annuity from Prudential Insurance Co. of America to replace pension benefits that tens of thousands of former long-time salaried workers received from the automaker, it was not the first employer to take such an approach.

Cash lump sums the next big thing in retiree payouts

By: Jerry Geisel

Published June 21, 2015 - 6:00am CST

More employers are showing employees the money in an effort to contain the risks, eliminate uncertainty and cut costs of providing pensions.

Teamsters multiemployer pension plan may cut benefits

By: Jerry Geisel

Published June 19, 2015 - 2:57pm CST

One of the nation's biggest and best-known multiemployer pension plans says it is considering cutting promised benefits in order to survive.

Unions support bill to repeal multiemployer reforms

By: Hazel Bradford, Pensions & Investments

Published June 18, 2015 - 3:56pm CST

International Brotherhood of Teamsters, Washington, endorsed legislation introduced Thursday that would repeal the Multiemployer Pension Reform Act of 2014.

Veteran arbitrator to review multiemployer pension plan cuts

By: Jerry Geisel

Published June 17, 2015 - 1:53pm CST

The U.S. Treasury Department on Wednesday named veteran attorney and arbitrator Ken Feinberg to review applications of financially troubled multiemployer pension plans to cut benefits promised to plan participants.

Pension risk transfers, plan redesigns needed to secure workers' retirement

By: Gavin Souter

Published June 16, 2015 - 1:55pm CST

NEW YORK — The emerging trend among U.S. employers of transferring longevity risks from defined benefit pension plans to insurers can help employers and employees, but more needs to be done to improve workers’ financial security in retirement, leading U.S. life insurance executives say.

IRS to halt issuing certain determination letters for retirement plans

By: Hazel Bradford, Pensions & Investments

Published June 15, 2015 - 9:15am CST

The IRS' plan to stop issuing some determination letters, necessary proof for companies that their retirement plans are tax qualified, puts plan executives into the hot seat.

Lump-sum takeups cut HP pension liabilities

By: Jerry Geisel

Published June 12, 2015 - 10:32am CST

Hewlett-Packard Co. has disclosed that its pension plan paid out $810 million to former employees who accepted the company's offer to convert their future annuity benefit to a cash lump-sum.

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