Corporate pension plans
News and video about Corporate pension plans from Pensions & Investments.
Honda raises retirement age to 65
trueHonda Motor Co. plans to shake up job terms next fiscal year and lift its retirement age by five years to 65, making the carmaker one of Japan Inc.'s biggest companies to take action in coping with the nation's aging demographics.
U.S. pension fund buyouts accelerating in first 9 months of 2015
trueU.S. corporate pension plan buyouts reached $3.2 billion during the third quarter, down from $3.8 billion the quarter before, said a LIMRA Secure Retirement Institute sales survey.
Ashland pays out $475 million as part of lump-sum, reduced annuity offer
trueAshland Inc. announced it paid out $475 million to participants in its U.S. defined benefit plans who accepted the company’s lump-sum or immediate reduced annuity offer.
Timken completes second annuity buyout with Prudential
trueTimken Co., Canton, Ohio, purchased a second group annuity contract from Prudential Insurance Co. of America to pay future pension benefits for about 3,400 U.S. hourly retirees.
BNY Mellon Master Trust Universe falls 4.67% in quarter
trueThe median return of all plans in the BNY Mellon U.S. Master Trust Universe was -4.67% in the quarter ended Sept. 30.
Pemex says union pact will reduce its $90 billion pension burden
truePetroleos Mexicanos reached an agreement with its union to create individual retirement accounts for incoming workers and to raise the retirement age, easing the company's pension liabilities.
Corporate funding ratios rise; public pension plan returns turn positive in October — reports
trueThe funded status of U.S. corporate pension plans rose between one and three percentage points in October on the back of rising asset values, said reports from BNY Mellon and Milliman.
More Canadian DB plans looking at long-term objectives, raising alts allocations
trueNinety-three percent of Canadian public and corporate defined benefit plans had a long-term risk-management objective at the end of 2014, vs. 87% in 2013 and only 50% in 2009, said a survey by Aon Hewitt.
U.K. pension funding deficit shrinks nearly 16% in October
trueRising equity markets and assets coupled with falling liabilities led to a 15.8% decrease in the total deficit of defined benefit funds covered by the Pension Protection Fund's 7800 index for the month of October, to £262.5 billion ($404.9 billion).
Wilshire TUCS funds return median -4.53% in third quarter
trueTrusts in the Wilshire Trust Universe Comparison Service returned a median -4.53% in the third quarter, down from -0.04% the previous quarter.
Aon Hewitt: Corporate funding ratios reverse downward trend, up to 81% in October
trueThe aggregate funded status for defined benefit plans sponsored by S&P 500 companies rose 2.2 percentage points to 80.9% in October as rising asset values outpaced liabilities, Aon Hewitt said.
Philips U.K. pension fund enters into buyout as last step in winding down entire plan
truePhilips Pension Fund agreed to purchase a group annuity contract from Pension Insurance Corp. to transfer about €2.6 billion ($2.9 billion) of pension obligations.
FTSE 350 pension deficit falls 3.1% in October
trueThe aggregate deficit of FTSE 350 companies in the U.K. fell 3.1% to £63 billion ($97.2 billion) in October, driven by an increase in asset values.
Funded status of corporate plans rises in October — 2 reports
trueThe funded status for U.S. corporate pension plans rose between three and four percentage points in October, reports from Mercer and Wilshire Consulting show.
Northern Trust universe down 4.6% in quarter; public plans hit the hardest
trueInstitutional asset owners in the Northern Trust Universe returned a median -4.6% in the third quarter of 2015, down from 0.2% in the previous quarter.