Corporate pension plans
News and video about Corporate pension plans from Pensions & Investments.
Walt Disney Co. to contribute up to $375 million to plans in 2015
trueThe Walt Disney Co. plans to contribute $350 million to $375 million to its defined benefit and postretirement medical plans in fiscal year 2015, which began Sept. 28, the company’s most recent 10-K filing shows.
LyondellBasell taps former Houston Firefighters CIO to oversee retirement plans
trueChristopher Gonzales was named director of global trust investments at LyondellBasell Industries.
PBGC multiemployer program deficit offsets single-employer improvement
trueMultiemployer pension funds caused a record deficit for the Pension Benefit Guaranty Corp., its annual report shows.
HSBC appoints new CEO for U.K. pension fund
trueElizabeth Renshaw-Ames was appointed trustee CEO at HSBC Bank Pension Trust (U.K.).
UPS to deliver additional $1 billion pension contribution in fourth quarter
trueUnited Parcel Service Inc. plans to make a $1 billion accelerated contribution to its defined benefit plans in the fourth quarter.
Makro Staff Pension Scheme completes buy-in with Rothesay Life
trueThe Makro Staff Pension Scheme completed a £185 million ($291.5 million) pension buy-in with Rothesay Life, said Emma Watkins, partner at Lane Clark & Peacock and lead adviser on the deal.
About 70% of terminated vested employees accept Magnetek lump-sum offer
trueMagnetek Inc. announced Wednesday that more than two-thirds of terminated vested participants in its defined benefit plan to whom the company offered a lump sum this fall have taken the offer.
Flowers Foods completes lump-sum offer with 60% acceptance
trueFlowers Foods Inc. announced in a Securities and Exchange Commission filing Wednesday it has made a voluntary lump-sum offer to about 2,500 terminated vested employees who are yet to retire.
Milliman: Lower rates sink corporate funding ratios again
trueThe funded status of the 100 largest U.S. corporate defined benefit plans fell to 84.8% in October, down 30 basis points from the previous month, said the Milliman 100 Pension Funding index.
Insurer Zurich proposes freezing its U.K. pension plans
trueZurich Insurance Group Ltd. is proposing to harmonize pension benefits for all U.K. employees by freezing its defined benefit plan to future accruals, with the aim of safeguarding the sponsor against the ongoing effects of longevity and low interest rates.
Asset owners' returns fall in 3rd quarter, 2 reports find
trueThe median return of all plans in the Wilshire Trust Universe Comparison Service and BNY Mellon Trust Universe and was -0.84% and -0.83%, respectively, for the third quarter of 2014, the first negative quarter since the second quarter last year.
CTL Engineering completes pension buyout with Aviva
trueCTL Engineering Pension Scheme completed a full buyout with Aviva as part of an acquisition deal in which the pension fund’s sponsoring company, CTL Engineering Ltd., was involved.
Volatile October ends up leaving funding ratios relatively flat — 3 reports
truehe funded status of U.S. corporate defined benefit plans was relatively unchanged in October, said monthly reports from BNY Mellon, Wilshire Consulting and Mercer.
CNA Financial makes lump-sum offer to former employees
trueCNA Financial Corp. offered lump sums to about 11,000 former employees vested in its defined benefit plan.
Insolvency rate slowing for U.K. companies with pension funds — report
trueThe insolvency rate of sponsoring employers with defined benefit plans that are eligible for inclusion in the U.K. Pension Protection Fund fell sharply over the nine months ended March 31.