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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.
Bill dies in Texas House that would have raised firefighters' pension fund contributions
trueA bill to increase Houston firefighters’ pension contributions and save the city more than $70 million in pension payments over the next three years fell apart after failing to reach a full vote of the Texas General Assembly before the legislative session ended.
Maryland governor wants to spend more on pension underfunding
trueMaryland Gov. Larry Hogan said Thursday he will make an additional contribution toward the state's unfunded pension liability.
UPDATED: Chicago's pension funds by the numbers
trueOn Tuesday, Moody's Investors Service downgraded the city of Chicago's credit rating to junk. In light of the Illinois Supreme Court's May 8 ruling that deemed the state's 2013 pension reform law unconstitutional, the ratings agency said it believes “the city's options for curbing growth in its own ...