Cash balance plans

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  1. Actuaries think more companies will shift to hybrid plans — survey

    trueActuaries expect more U.S. corporations to move to hybrid retirement plans following the adoption of the final regulations established by the Pension Protection Act of 2006, said a survey from the ASPPA College of Pension Actuaries.

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  1. Washington Post to freeze DB plan, close cash balance plan to new employees

    trueThe Washington Post and Washington-Baltimore Newspaper Guild have reached a tentative agreement on a new two-year contract that freezes the company’s traditional defined benefit plan and transfers remaining participants to an existing cash balance plan, effective Aug. 31.

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  2. IRS hybrid plan transition rules criticized

    trueSponsors of cash balance plans and other hybrid retirement plans welcomed final rules in September from the IRS but are now criticizing the agency’s proposed transition rules on market rates of return.

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  3. Guidance, flexibility offered in cash balance rules

    trueCash balance plan sponsors got a compliance road map and added flexibility in picking expected rates of return when final regulations on the hybrid plans were issued by the Treasury Department and Internal Revenue Service.

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  4. Washington Post freezes DB plan, switches to cash balance

    trueThe Washington Post’s parent company is freezing its defined benefit plan and transferring remaining participants to an existing cash balance plan, effective Jan. 1, 2015. The company is also offering a lump-sum option for all defined benefit participants.

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  5. IRS, Treasury release final hybrid plan rules

    trueThe Treasury Department and the IRS finalized regulations for hybrid retirement plans such as cash balance plans that have been pending since 2010.

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  6. Kodak moves all employees to single cash balance plan benefit formula

    trueEastman Kodak Co., Rochester, N.Y., is moving all of its U.S. employees to a cash balance plan with a single pension benefit formula, effective Jan. 1.

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  7. Herman Miller folds up cash balance plan

    trueHerman Miller Inc., Zeeland, Mich., has completed the termination of its cash balance plan following a group annuity buyout.

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  8. Allstate's cash balance changes cause retirement rush, costing up to $125 million in Q4

    trueAllstate Corp. is expected to report a fourth-quarter settlement charge of $100 million to $125 million from increasing unrecognized pension benefit costs.

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  9. Louisiana Supreme Court: Cash balance plan law unconstitutional

    trueThe Louisiana Supreme Court struck down as unconstitutional a recent law establishing a cash balance plan for some employees of three of the state's pension plans.

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  10. Cash balance plans challenge 401(k) plans but require intelligent investing

    trueCash balance plans are the fastest growing of the defined benefit pension plan universe and could become as numerous as 401(k) plans within the next few years. But while the benefits of plan portability, reduced longevity and investment risks, and improved legal clarification are deservedly ...

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  11. Kentucky lawmakers approve pension reform bill

    trueThe Kentucky Legislature passed a comprehensive pension reform bill Tuesday night that will create a cash balance plan for members of the $14 billion Kentucky Retirement Systems hired after Jan. 1, 2014.

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  12. Louisiana court rules cash balance plan is unconstitutional

    trueA Louisiana district court judge on Thursday struck down as unconstitutional a recent law establishing a cash balance plan for some employees in three of the state’s pension funds.

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  13. Investing for cash balance plans

    trueAs cash balance plans have experienced a rise in popularity, the search for optimal investment allocations has continued.

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