Corporate pension plans
News and video about Corporate pension plans from Pensions & Investments.
NCR Corp. agrees to partial pension buyout with Principal Life Insurance
trueNCR Corp. announced Wednesday it has purchased a group annuity contract from Principal Life Insurance Co. to transfer about $160 million in pension liabilities, representing 4,500 retirees receiving benefits from its pension fund.
TRW Automotive Holdings agrees to annuity buyout with MetLife for U.S. retirees
trueTRW Automotive Holdings Inc., Livonia, Mich., purchased a group annuity contract from MetLife Inc. in a $440 million transaction to provide pension benefits to more than 7,000 TRW retirees and beneficiaries.
Allegheny Technologies to freeze DB plan for certain employees on Dec. 31
trueAllegheny Technologies Inc., Pittsburgh, announced on Friday it will freeze the benefit accruals of certain participants in its U.S. defined benefit plan on Dec. 31, spokesman Dan Greenfield said.
Barnes & Noble plans another lump-sum offer as part of terminating DB plan
trueBarnes & Noble Inc., New York, will offer a lump sum to the remaining 2,350 active and terminated vested participants in its terminated defined benefit plan.
Milliman: Funded status inches lower for 100 largest corporate pension plans
trueThe funded status of the 100 largest U.S. corporate defined benefit plans fell slightly in November as liabilities rose more than assets, the Milliman 100 Pension Funding index shows.
Corporate pension funding relatively flat in November — 3 reports
trueThe funded status of U.S. corporate defined benefit plans was relatively unchanged in November, said monthly reports from BNY Mellon Investment Management, Mercer and Wilshire Consulting.
U.K. corporate DB funded status takes hit over past 12 months
trueDeficits at U.K. corporate defined benefit plans increased 29.3% over the year ended Nov. 30, to £212 billion ($332.3 billion), as persistently low interest rates continued to increase liabilities.
TRW completes largest U.K. buyout to date with L&G
trueThe TRW Pension Scheme, Solihull, England, agreed to a £2.5 billion ($3.9 billion) partial buyout with Legal & General Assurance Society, forming part of a year-long risk transfer project, said David Ellis, U.K. head of bulk pensions insurance at Mercer, the lead adviser to the trustee.
Kemper taps Northern Trust for global small-cap equity strategy
trueKemper Corp. hired Northern Trust Asset Management to run its global small-cap “engineered equity” strategy for the company’s defined benefit plan.
Rock-Tenn settles $249 million in obligations for lump-sum offer
trueRock-Tenn Co. announced Monday that it has settled $249 million in projected benefit obligations through a voluntary lump-sum offer to former employees who have yet to retire.
Impact investors shifting gears to accommodate specific goals
trueThe trend of impact investing — into companies, organizations and funds with the aim of investing for social and environmental good, as well as a financial gain — is becoming more specific.
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.).