Corporate pension plans
News and video about Corporate pension plans from Pensions & Investments.
Bristol-Myers Squibb announces $1.4 billion pension buyout
trueBristol-Myers Squibb Co. said it would settle $1.4 billion in pension obligations by purchasing a group annuity contract from Prudential Insurance Co. for approximately 8,000 retirees and beneficiaries.
Aon Hewitt: Canadian DB plans' funding status slips
trueCanadian defined benefit plans administered by Aon Hewitt saw their funded status slip in the past three months, to a median 91.1% as of Sept. 26 from 96%.
U.K. private-sector DB assets to fall 6% by 2023 — report
trueAssets in the U.K.’s private defined benefit market will decrease 6% by 2023, to £1.05 trillion ($1.8 trillion), says research company Spence Johnson.
Motorola wraps up pension buyout at light speed
trueMotorola Solutions Inc.'s pension buyout, the third largest in U.S. history, was the fastest by a mile, taking less than six months from start to finish.
Busy week for lump-sum offerings
trueWhile Motorola Solutions Inc.’s activity last week was the most notable, three other companies also announced lump-sum offers.
Motorola Solutions looks to shed $4.2 billion in liabilities in buyout, lump sums
trueMotorola Solutions Inc. entered into a pension buyout agreement with Prudential Insurance and will offer lump-sum payouts to terminated vested employees to reduce $4.2 billion in pension obligations.
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.
PBGC to take over James River Coal pension fund
trueThe PBGC will take over the defined benefit plan of James River Coal Co., the agency announced Wednesday.
Newell Rubbermaid proposes lump sums for terminated vested employees
trueNewell Rubbermaid Inc. announced in an SEC filing Tuesday it will offer a lump-sum payment to about 5,700 terminated vested participants in its frozen U.S. defined benefit plan.
Magnetek offers lump sum to 35% of DB participants
trueMagnetek Inc. announced Tuesday in an SEC filing that it is in the midst of offering a lump-sum payout offer to certain participants in its defined benefit plan.
American Axle & Manufacturing to make lump-sum offer
trueAmerican Axle & Manufacturing Holdings Inc. announced in an SEC filing Monday that it plans to offer a lump-sum payment to certain terminated vested participants in its U.S. pension funds.
Investors hurting FTSE 100 companies with pension funds, study finds
trueInvestors in FTSE 100 companies with defined benefit plans are penalizing those companies for their pension liabilities regardless of the pension plan's funded status, said a study by U.K. economics consultant Llewellyn Consulting.
Johnson & Johnson seeks senior director for retirement plans
trueJohnson & Johnson, New Brunswick, N.J., is searching for a senior director, benefit trust investments.
Canadian pension fund assets gain 5.3% in first quarter
trueCanadian pension fund assets were up 5.3% in the first quarter, totaling C$1.412 trillion (US$1.29 trillion) as of March 31, Statistics Canada, the government's statistics agency, reported Wednesday.
Standard Life to freeze its pension plan in 2016
trueStandard Life PLC, Edinburgh, is freezing its U.K. defined benefit plan in April 2016 to mitigate risk and increasing costs associated with running the pension fund in the future.