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U.S. worker pension coverage over the last 30 years
trueSince 1983, the number of U.S. workers covered only by a defined benefit pension plan has fallen to 17% from 62% in 2013, according to an issue brief released by the Center for Retirement Research released Monday.
Retirement tax incentives called 'out of whack'
trueSenate Finance Committee Chairman Ron Wyden, D-Ore., said at a hearing Tuesday that “something is out of whack” between the $140 billion in annual tax subsidies for retirement savings and the number of people who don’t have enough saved for retirement.
Think tank proposes new, minimum pension plan
trueEmployers should be required to offer a minimum pension and contribute a minimum of 50 cents per hour worked for every employee into a retirement plan, said a report released Tuesday from Third Way, a public-policy think tank and advocacy organization based in Washington.
Treasury's Iwry urges more use of behavioral research in DC plans
trueDefined contribution plan executives should pursue a “more robust” use of consumer finance behavior research lessons to help participants raise their retirement savings rates, the Treasury Department’s J. Mark Iwry said Tuesday.
Pensions Trust taps Ownership Capital for global equity
trueThe Pensions Trust, Leeds, England, hired Ownership Capital to run £130 million ($211 million) in active global equities.
Oregon task force recommends DC plan for private-sector employees
trueAn Oregon task force recommended the state Legislature create a defined contribution plan for all Oregonians who lack access to a retirement plan at their workplaces.
Deadline nearing for 2015 Eddy Awards
trueThe deadline for the annual Eddy Awards, sponsored by Pensions & Investments, is only one month away.
Uncertainty reigning prior to Scottish vote
trueMoney managers, consultants and investors are for the first time being forced to take seriously the potential for a breakup of the United Kingdom.
Towers Watson: U.K. employees turning away from annuities for retirement savings
trueU.K. employers expect only 40% on average of their employees to buy an annuity to fund their retirement once the government's new rules over defined contribution plans come into effect, beginning in April 2015, a Towers Watson survey found.
Loop Capital: State, local funding stabilizes in 2013
truePension 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, which found minimal annual declines in fiscal year 2013.
U.K. institutional market by client type
trueAccording to the Investment Management Association's latest survey, pension fund clients accounted for 51.2% of the United Kingdom's £2.6 trillion institutional market as of Dec. 31. Corporate pensions plans represented 41.6% of the total, followed by local and government pension schemes (7.1%) and ...
Great-West appoints president to oversee larger retirement business
trueEdmund F. Murphy III was named president of the retirement business of Great-West Financial.
NISA: Funded status volatility falls slightly in August
trueNISA Investment Advisors' Pension Surplus Risk index fell 20 basis points to 9.2% in August, driven by a drop in asset volatility.
Pension Protection Fund seeks private equity energy managers
truePension Protection Fund, London, is looking for private equity managers running energy funds, a spokeswoman said.
U.K. kills contribution, transfer restrictions for NEST
trueParticipants in the National Employment Savings Trust, London, will not be forced to comply with a cap on contributions and also will be permitted to transfer existing retirement savings into the plan, beginning in April 2017.