Corporate pension plans
News and video about Corporate pension plans from Pensions & Investments.
Tesco pension fund deficit increases 7.7% in 6 months
trueThe pension fund deficit at Tesco PLC, Cheshunt, England, increased 7.7% to £4.2 billion ($6.5 billion) over the six months ended Aug. 29, said a financial update from the company.
Experts watching high court session
truePension plan executives and other investors are watching several Supreme Court cases in the term starting Oct. 5, especially ones that could change the rules for bringing legal actions against corporations, and challenges to when and where retirement plan participants can sue.
J.C. Penney buying group annuity contract from Prudential
trueJ.C. Penney Co., Plano, Texas, announced Friday it is purchasing a group annuity contract from Prudential Insurance Co. of America to transfer some pension fund liabilities.
Philips Electronics to cut $1.1 billion in pension obligations with annuity buyouts
truePhilips Electronics North America Corp., New York, is purchasing group annuity contracts from American United Life Insurance Co., Banner Life Insurance Co. and Prudential Life Insurance Co. of America to transfer U.S. pension fund liabilities of about 17,000 retirees, beneficiaries and terminated ...
Aviva scheme taps new pensions investment director
trueSteven Catchpole was named pensions investment director at Aviva Staff Pension Scheme.
Energy Transfer's acquisition of Williams Cos. combines $4.3 billion in retirement assets
trueThe acquisition of The Williams Cos. Inc. by Energy Transfer Corp., an affiliate of Energy Transfer Equity LP, could create a single energy company with combined retirement assets of about $4.3 billion.
Boeing private equity director joins Wespath Investment Management
trueMark Warren left Boeing Co. as director of private equity to join Wespath Investment Management, the investments division of the Glenview, Ill.-based $21 billion General Board of Pension and Health Benefits of The United Methodist Church.
Longer lives, falling rates put pressure on hospital pension funds
trueHealth-care systems face broader unfunded pension liabilities as they make long overdue updates to their assumptions for retiree longevity, and raise the level of assets they will need to account for a falling discount rate.
Busy quarter expected for pension risk transfer
trueCorporate pension plan sponsors are continuing to shed liabilities through lump-sum offers and group annuity purchases from insurers, leading some consultants to predict an eventful fourth quarter.
Heineken pension plan enters into longevity swap with Friends Life
trueHeineken completed a £2.4 billion ($3.6 billion) longevity swap transaction with Friends Life, part of Aviva Group, to protect against the risk of retirees in its pension fund living longer than expected.
West Pharmaceutical Services agrees to annuity buyout with MetLife
trueWest Pharmaceutical Services Inc., Exton, Pa., announced Thursday that it has purchased a group annuity contract from MetLife to settle about $140 million in pension obligations.
Milliman: Corporate pension funding drops in August
trueThe funded status of the 100 largest U.S. corporate pension plans fell 150 basis points to 83.4% at the end of August, the Milliman 100 Pension Funding index showed Wednesday.
J.C. Penney makes lump-sum offer to retirees, eyes possible annuitization
trueJ.C. Penney Co. is offering about 31,000 retirees and beneficiaries a lump-sum window.
Take the money and run?
trueThe continuing rise in PBGC premiums and the eventual incorporation of new mortality tables into lump-sum calculation regulations in 2017 make these offers attractive for 2015 and likely 2016.
U.K. occupational pension fund deficit rises 10.3% in August
trueThe aggregate deficit of U.K. occupational pension funds covered by the Pension Protection Fund’s 7800 index increased 10.3% to £280.4 billion ($431.5 billion) over the month ended Aug. 31.