Corporate pension plans
News and video about Corporate pension plans from Pensions & Investments.
Highway bill gives overfunded DB plans options
trueSponsors of overfunded defined benefit plans will be able to use excess pension funds for retiree health care and life insurance, under a highway bill passed by the House late Wednesday.
IBM sees $250 million charge if U.K. pension fund appeal unsuccessful
trueIBM appealed a ruling that it unfairly changed its U.K. pension plan — a bid that if unsuccessful, could result in a one-time charge of about $250 million.
Deloitte hires director for pension fund advisory business
trueMarian Elliott joined Deloitte as a director.
Halliburton investor class action certified
trueA group of pension funds and other institutional shareholders can pursue a class-action lawsuit against Halliburton Co., a U.S. District Court in Dallas ordered July 27.
MIRA completes buyout with PIC for pension fund
trueThe MIRA Retirement Benefits Scheme completed a £70 million ($108.5 million) buyout with Pension Insurance Corp. for the entire pension fund.
Large U.K. companies on the hook for additional investment risk
trueFTSE 350 companies are on the hook to underwrite an additional £100 billion ($155.2 billion) of investment risk within their pension funds, said a new report by Lincoln Pensions.
Equities a sinking allocation for corporate DB plans
trueThe heyday of equities in corporate defined benefit plans is over. Corporate pension plan allocations to equity have declined to a new low.
Anthem acquisition of Cigna would create company with $15.6 billion in retirement assets
trueAnthem is acquiring Cigna in a cash and stock transaction valued at $54.2 billion. The combined entity will have $15.6 billion in retirement plan assets.
Mine Workers plan sues Peabody, Arch Coal for withdrawal liability
trueThe United Mine Workers of America 1974 Pension Plan filed a lawsuit Thursday to force Peabody Energy Corp. and Arch Coal Inc. to negotiate withdrawal liability for the underfunded pension plan before a bankruptcy sale sought by Patriot Coal Corp. is approved.
The Pensions Trust taps Invesco Perpetual for multiasset allocation
trueThe Pensions Trust, Leeds, England, hired Invesco Perpetual to manage a £101 million ($156.7 million) multiasset allocation.
FedEx charts $660 million in pension fund contributions
trueFedEx Corp., Memphis, expects to contribute $660 million to its U.S. pension funds during its 2016 fiscal year that started June 1. The company contributed the exact same amount in each of its two previous fiscal years.
AstraZeneca appoints global pensions director
trueAndrew Foster was named global pensions director at AstraZeneca.
AXA secures $4.4 billion longevity swap with U.K. pension fund
trueAXA U.K. Group Pension Scheme completed a £2.8 billion ($4.4 billion) longevity swap with Reinsurance Group of America for the defined benefit section of its retirement plans.
National Grid taps Philips CIO to lead new pension fund executive team
trueRob Schreur was appointed CEO of the National Grid U.K. Pension Scheme.
Milliman: Corporate pension funding continues to climb in June
trueThe funded status of the 100 largest U.S. corporate defined benefit plans improved to 85.6% at the end of June, up 150 basis points from May, the Milliman 100 Pension Funding index showed Thursday.