Corporate pension plans
News and video about Corporate pension plans from Pensions & Investments.
ERISA at 40
trueWhile the Employee Retirement Income Security Act of 1974 benefited millions of people, it did not live up to the “retirement income security” part of its name. Along with praise for what ERISA did accomplish, there are now calls for fixing what it did not.
Brink's offers lump-sum payment to former employees
trueThe Brink’s Co., Richmond, Va., announced on Friday it has offered certain former employees who are vested in its U.S. defined benefit plan the option to accept a lump sum.
South Korean companies required to enroll employees in retirement plans
trueSouth Korea's government said it plans to ease rules on pension fund management and force all companies to enroll employees in private retirement plans by 2022 as it bids to improve incomes among senior citizens.
Interserve pension plan agrees to buy-in with Aviva
trueThe trustees of the Interserve Pension Scheme, Reading, England, have agreed to a buy-in with Aviva PLC to cover £300 million ($497.8 million) of pension liabilities, said a spokesman for the sponsoring employer, Interserve PLC.
Financial services companies have best pension funding ratio — report
trueFinancial services companies have the best funded defined benefit plans compared to other business sectors, said a report from BNY Mellon's investment strategy and solutions group.
PGL Pension Scheme conducts £900 million longevity swap
trueThe trustees of the PGL Pension Scheme, Birmingham, England, hedged the longevity risk of £900 million ($1.5 billion) of liabilities with Phoenix Life.
Vestey Group enters into pension buyout with Rothesay Life
trueVestey Group has conducted a £280 million ($464.4 million) bulk annuity deal with Rothesay Life for its pension fund, Western United Group Pension Scheme, London, said Ben Fowler, group head of reward and HR development for the firm.
SEC rules Timbervest violated Investment Advisers Act
trueAn SEC administrative law judge ruled Wednesday that institutional timber manager Timbervest LLC violated terms of the Investment Advisers Act of 1940.
Lehman Brothers agrees to fully fund U.K. pension plan for buyout
trueParticipants in the Lehman Brothers pension fund in the U.K. will receive their full retirement benefits, after an agreement to pay £184 million ($307.2 million) to fund a buyout was reached between relevant parties.
Milliman: Corporate pension plan funding inches down in July
trueThe funded status of the 100 largest U.S. corporate pension plans dropped to 85% in July, down from 85.3% in June, said the latest Milliman 100 Pension Funding index.
Cox Enterprises ordered to pay $13.9 million to PBGC for News-Journal plan
trueCox Enterprises Inc. will have to give the Pension Benefit Guaranty Corp. $13.9 million to cover the unfunded pension liabilities of News-Journal Corp.
Exelon picks Segall Bryant & Hamill for small-cap value equity
trueExelon Corp. hired Segall Bryant & Hamill as a manager for its defined benefit plans.
3 report asset owner universe returns for the second quarter and year
trueThe median return of all plans in the BNY Mellon U.S. Master Trust Universe was 3.74% in the second quarter ended June 30
U.K. accounting changes could slash pensions on balance sheets
trueProposed changes to pensions accounting standards could wipe more than £25 billion ($42 billion) from FTSE 350 company balance sheets
ADM to offer lump-sum payments to U.S. retirees
trueArcher Daniels Midland Co. will offer lump-sum payments to 10,000 U.S. retirees.