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Parker Hannifin to contribute $278 million to global pension funds
trueParker Hannifin Corp. plans to contribute $278 million to its global defined benefit plans during its fiscal year 2016 that started July 1, the company announced in its 10-K filing Wednesday.
Kentucky teachers allege federal constitutional violation in lawsuit against pension fund
trueCurrent and retired Kentucky school teachers filed a lawsuit against the Kentucky Teachers’ Retirement System, charging the Frankfort-based system with failing to adequately address its “dire” funded status, including illegally raising teachers’ contributions to KTRS.
U.K. corporate pension fund contributions down 15.5% in 2014
trueThe U.K.'s largest companies reduced their pension fund contributions in 2014, shows a new report from consultant Lane Clark & Peacock.
Moody's: Pension liabilities increasing for majority of largest local governments
truePension burdens increased for 31 of the 50 largest local governments in fiscal year 2013, said a new report from Moody's Investors Service.
Large U.K. companies on the hook for additional investment risk
trueFTSE 350 companies are on the hook to underwrite an additional £100 billion ($155.2 billion) of investment risk within their pension funds, said a new report by Lincoln Pensions.
Mine Workers plan sues Peabody, Arch Coal for withdrawal liability
trueThe United Mine Workers of America 1974 Pension Plan filed a lawsuit Thursday to force Peabody Energy Corp. and Arch Coal Inc. to negotiate withdrawal liability for the underfunded pension plan before a bankruptcy sale sought by Patriot Coal Corp. is approved.
FedEx charts $660 million in pension fund contributions
trueFedEx Corp., Memphis, expects to contribute $660 million to its U.S. pension funds during its 2016 fiscal year that started June 1. The company contributed the exact same amount in each of its two previous fiscal years.
Illinois governor unveils new pension reform bill
trueIllinois Gov. Bruce Rauner announced Wednesday a bill aimed at reducing pension costs at the state, county and city levels.
PBGC files liens against Times Publishing
trueThe PBGC filed liens against the Times Publishing Co., for $30.5 million in missed pension fund contributions and related interest and penalties.
Corporations face looming pension bills
trueThe pending expiration of federal contribution relief and increasing longevity mean U.S. corporations face the need for large contributions to their pension plans in coming years.
New Jersey governor slashes state pension contribution in FY 2016 budget
trueNew Jersey Gov. Chris Christie on Friday used a line-item veto to reduce the amount of money approved by the Legislature for a state payment to the $79.2 billion New Jersey Pension Fund, Trenton, for the fiscal year starting July 1.
Illinois House to revote bill to delay Chicago Public Schools pension payment
trueA bill to extend the deadline of a $634 million payment to the Chicago Public School Teachers’ Pension & Retirement Fund will be called for another Illinois House vote on June 30.
GFOR: Healthy, and not so healthy, DB plans
trueOfficials from Florida and North Carolina described their states' healthy defined benefit plans at Pensions & Investments' Global Future of Retirement conference in New York on Monday, but a third executive — the superintendent of pensions in Costa Rica — expressed concerns about the management of ...
Chicago Public Schools faces $634 million pension fund contribution by June 30
trueAs the deadline looms, the Chicago Public School Teachers' Pension & Retirement Fund expects the Chicago Public Schools Board of Education to contribute the full $634 million due before the close of its fiscal year on June 30, said Frances Radencic, director of communications of the $10.2 billion ...
U.K.'s Pensions Regulator highlights importance of employer contributions to plug deficits
truePension funds that cannot afford to take higher risk to help plug growing deficits should turn to their employer for increased contributions, so they do not have to extend their recovery plan end date, said The Pensions Regulator.