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Illinois Supreme Court orders consolidation of suits challenging pension reform law
trueThe Illinois Supreme Court ruled Monday that four lawsuits challenging the constitutionality of Illinois' recent pension reform law should be consolidated.
Upping the ante on implementation of derisking process
trueMany ERISA pension plans are now implementing specific formulas called “glidepaths” to automatically shift funds to fixed income from growth assets as the plan's funded status increases. The goal, of course, is to reduce funded status risk — i.e., to decrease the chance plan sponsors will face ...
17 companies set pension contributions totaling $10 billion for 2014
trueSeventeen companies have announced projected contributions to their defined benefit plans totaling more than $10 billion since Feb. 14, according to 10-K filings with the Securities and Exchange Commission.
Verizon to dial up $1.4 billion for DB plans in 2014
trueVerizon Communications Inc., New York, will contribute approximately $1.2 billion to its qualified defined benefit plans and about $200 million to its nonqualified plans in 2014.
Cigna slates $100 million pension contribution for year
trueCigna Corp., Bloomfield, Conn., plans to make about $100 million in pension contributions this year, according to its 10-K filing.
Merck to inject $250 million into pension funds this year
trueMerck & Co., Whitehouse Station, N.J., plans to contribute about $250 million to its defined benefit pension funds worldwide in 2014, according to its 10-K filed Thursday with the Securities and Exchange Commission.
GE to contribute $1.33 billion to pension plans in 2014
trueGeneral Electric Co., Stamford, Conn., plans to contribute a total of $1.33 billion to its pension plans in 2014, according to its 10-k filed Feb. 27.
Exxon Mobil fueling pension funds with $2.2 billion in 2014
trueExxon Mobil Corp., Irving, Texas, plans to contribute $1.4 billion to its U.S. defined benefit pension funds and $800 million to its non-U.S. plans in 2014.
IBM to contribute $600 million to non-U.S. pension funds
trueInternational Business Machines Corp., Armonk, N.Y., expects to contribute about $600 million to its non-U.S. defined benefit and non-U.S. multiemployer pension funds in 2014, according to the company's most recent 10-K filing.
U.S. Steel forging $375 million in pension contributions through 2015
trueU.S. Steel Corp., Pittsburgh, expects to contribute up to $375 million to its pension funds through the end of 2015.
Appellate court says CalPERS can argue against San Bernardino bankruptcy
trueCalPERS may challenge the legality of the bankruptcy of San Bernardino, Calif., the U.S. Court of Appeals in San Francisco ruled.
Texas Employees returns 14.3% in 2013, outperforming policy benchmark
trueTexas Employees Retirement System, Austin, returned 14.3% for the year ended Dec. 31, surpassing the policy benchmark return by 50 basis points.
Christie sets N.J. pension contribution at $2.25 billion
trueNew Jersey Gov. Chris Christie said Tuesday that his proposed budget for the next fiscal year includes a $2.25 billion contribution to the state's public pension system.
ConocoPhillips plans to pump $560 million into pension funds
trueConocoPhillips Co., Houston, expects to contribute $560 million to its worldwide defined benefit pension funds this year — $350 million to its U.S. plans and $210 million to its international plans, according to its 10-K filed Tuesday.
Eli Lilly plans' funded status rises to 95%
trueFunded status for the pension plans of Eli Lilly & Co., Indianapolis, improved to a cumulative 95% for 2013, from 79% the previous year, according to the company's 10-K filing.