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Judge rules Illinois pension reform law is unconstitutional
trueA Sangamon County Circuit Court judge ruled Friday that Illinois' pension reform law passed last year is unconstitutional.
Walt Disney Co. to contribute up to $375 million to plans in 2015
trueThe Walt Disney Co. plans to contribute $350 million to $375 million to its defined benefit and postretirement medical plans in fiscal year 2015, which began Sept. 28, the company's most recent 10-K filing shows.
UPS to deliver additional $1 billion pension contribution in fourth quarter
trueUnited Parcel Service Inc. plans to make a $1 billion accelerated contribution to its defined benefit plans in the fourth quarter.
Kentucky Teachers' Retirement sued for not addressing 'dire' funded status
trueA high school teacher in Louisville, Ky., filed a lawsuit against the Kentucky Teachers' Retirement System, charging the Frankfort-based system with failing to adequately address its “dire” funded status.
Boeing contributes $750 million to pension funds in 3rd quarter
trueBoeing Co. contributed $750 million to its defined benefit plans in the quarter ended Sept. 30, the company said Wednesday in a Securities and Exchange Commission filing.
Lockheed Martin to forgo pension contributions in 2015 through 2017
trueLockheed Martin Corp. announced Tuesday it has contributed $1 billion in contributions to its defined benefit plans thus far in 2014 out of an expected $2 billion and does not expect to make further contributions for at least three more years.
JPMAM: Corporate pension funding falls in 3rd quarter
trueThe average funded status of pension plans of Russell 3000 companies fell slightly to 86.9% at the end of the third quarter,down 150 basis points from the end of 2013, due to “ebbing rates” and “moderate asset returns,” said a new Pension Pulse report from J.P. Morgan Asset Management.
Trump Entertainment can't stop funding union pension plan, judge says
trueTrump Entertainment Resorts, the bankrupt Atlantic City, N.J., casino owner, was denied court approval to immediately stop contributing to a union pension fund, a blow to its restructuring effort that threatens the future of its remaining casino.
Impact of Stockton decision uncertain
trueIt remains to be seen whether a judge’s statement Wednesday that bankrupt Stockton, Calif., can cancel its contracts with CalPERS will have an impact on retirees and weaken vested pension rights.
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 ...
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.
Start putting together those Eddy Award entries
trueSummer is almost over, so it's time to think about applying for the annual Eddy Awards sponsored by Pensions & Investments.
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
Report: Scranton commuter tax to ease underfunding
trueA commuter tax enacted by Scranton, Pa., and earmarked for the city’s three retirement plans will raise a projected $5.1 million annually and “chip away” at the city’s $150.2 million in unfunded pension liabilities.
FTSE 100 companies decrease cash contributions to plans in 2013
trueFTSE 100 companies provided additional security to their pension funds via promises of non-cash contributions during 2013 at the expense of cash contributions, with 38 firms reporting this kind of measure to bolster their arrangements.