Hybrid pension plans
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Actuaries think more companies will shift to hybrid plans — survey
trueActuaries expect more U.S. corporations to move to hybrid retirement plans following the adoption of the final regulations established by the Pension Protection Act of 2006, said a survey from the ASPPA College of Pension Actuaries.
IASB chairman: Hybrid retirement plans need new accounting standards
trueThe increased number of retirement plans that take a hybrid approach has led to the launch of a research project by the International Accounting Standards Board into the development of new accounting standards.
Retirement plan reform taking center stage in the military
trueA major revamping of the military retirement system could finally become a reality as the Pentagon comes under increasing pressure to save money and attract new recruits.
John Lewis Partnership moves to hybrid retirement plan
trueJohn Lewis Partnership will adopt a hybrid defined benefit/defined contribution retirement plan.
IRS hybrid plan transition rules criticized
trueSponsors of cash balance plans and other hybrid retirement plans welcomed final rules in September from the IRS but are now criticizing the agency’s proposed transition rules on market rates of return.
IRS, Treasury release final hybrid plan rules
trueThe Treasury Department and the IRS finalized regulations for hybrid retirement plans such as cash balance plans that have been pending since 2010.
Pension contribution changes part of Philadelphia's deal with union
truePhiladelphia reached a tentative seven-year contract agreement with the representatives from the city's largest municipal workers' union, AFSCME District Council 33, that will increase employee contributions to the pension fund and allow new employees the choice between a hybrid plan and the ...
Detroit pension plan participants approve bankruptcy exit plan
trueDetroit’s active and retired public workers approved the city’s plan to exit bankruptcy, which includes freezing the two public defined benefit plans and replacing them with hybrid plans.
Baltimore mayor proposes hybrid plan for new police, fire employees
trueNewly hired Baltimore police and fire employees would have a hybrid defined benefit/defined contribution plan under a proposal introduced by Mayor Stephanie Rawlings-Blake.
Canada proposes new hybrid retirement plan for certain employers
trueThe Canadian government on Thursday proposed a new voluntary hybrid pension plan for government-owned and federally regulated private companies such as banks and telecommunications firms.
EFI president develops new DB plan model
trueA new defined benefit pension plan design is being touted as not only a substitute for defined contribution plans, but as an opportunity to improve on the amount of benefits received in traditional DB plans.
Adjustable pension plan design begins to gain converts
trueA new pension plan design that allows employers to drastically reduce their risk while still providing lifetime income to participants is gaining support as an alternative to moving employees into a defined contribution plans.
Palm Beach taps sole consultant for town's retirement plans
truePalm Beach, Fla., hired Segal Rogerscasey as general consultant for its frozen $175 million defined benefit pension plan, its new hybrid plan and existing defined contribution plans.
California governor, Democratic legislators agree on pension changes
trueCalifornia Gov. Edmund G. Brown Jr. on Tuesday said he and Democratic state lawmakers agreed to a new pension reform plan that would cap the pension benefits for future public workers.
New California pension proposal shuns governor's hybrid plan
trueCalifornia Gov. Edmund G. Brown Jr.'s plan to create a hybrid pension plan for new state employees was rejected by state Democratic legislative leaders who instead plan to propose limiting pension benefits for future public employees.