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Huntington Memorial Hospital chooses Fidelity as record keeper
Huntington Memorial Hospital hired Fidelity Investments as record keeper for its 403(b) plan.
AXA looks to freeze U.K. pension fund
AXA Group is proposing to freeze its £3.28 billion ($5.08 billion) U.K. defined benefit pension fund, which has been closed to new members since 2003, according to a company spokeswoman.
Milliman to assess impact of another Florida pension reform bill
The Florida Senate commissioned Milliman to conduct an actuarial study of the financial impact of closing the Florida Retirement System's defined benefit plan to some state employees
Closed pension plans face non-discrimination peril
Employers that thought closing their defined benefit plans to new employees would simplify their pension decisions could be in for a rude surprise as they increasingly risk flunking non-discrimination tests.
Macy's to freeze pension plan at end of year
Macy's Inc., Cincinnati, will freeze its defined benefit pension plan as of Dec. 31, according to a recent SEC filing.
Aon Hewitt: Corporate plans eyeing jump through lump-sum window
More than one-third of corporate defined benefit plan sponsors are considering lump-sum payouts this year for retirees and vested former employees, up from 7% last year, according to a new survey by Aon Hewitt.
Goodyear contributes $454 million, announces move to LDI
Goodyear Tire & Rubber Co., Akron, Ohio, contributed $454 million to its U.S. pension plans in 2012 and announced plans for a liability-driven investing strategy for its U.S. pension plans.
Pitney Bowes to freeze two DB plans for some employees in March
Pitney Bowes Inc. will freeze two defined benefit pension plans for participants with less than 16 years of service as of March 31, confirmed spokesman Matthew Broder.
Anixter International to freeze pension plan
Anixter International Inc. will freeze its U.S. defined benefit pension plan at the end of 2013 in an effort to reduce pension costs and volatility.
NAPF survey: Corporate U.K. DB plans closing at faster pace
U.K. corporate defined benefit pension plans are closing at the fastest pace since 2005, with only 13% of DB funds open to new employees in 2012 compared to 19% the previous year, according to an annual survey published by the National Association of Pension Funds.
Sears pension plan cuts stake in retailer's debt to fund lump-sum payouts
Sears Holdings Corp.’s employee pension fund Wednesday sold a portion of the $250 million in company debt that it bought more than two years ago to help fund lump-sum payments to retirees.
Pensacola police pension fund to be closed to new hires
Pensacola (Fla.) Police Officers' Retirement Fund will be closed to new hires effective Jan. 1.
Senior American Airlines pilots seek to keep lump-sum payments
A group of senior pilots at American Airlines on Monday asked the judge overseeing parent AMR Corp's Chapter 11 bankruptcy case to withhold approval of a new labor agreement that would eliminate the option of lump-sum retirement payouts.
AMR seeks court approval to ground lump-sum benefit option
American Airlines Inc. parent AMR Corp. has asked a federal bankruptcy court in New York for permission to allow the airline to amend its frozen pilots' pension plan so that retiring pilots cannot receive their accrued benefits as a lump sum.
Verizon to close DB plan to new union employees along with buyout
Verizon Communications Inc., New York, will close its defined benefit plans for union employees to new hires and place them exclusively in the company's 401(k) plan, as part of tentative contracts with the Communication Workers of America and International Brotherhood of Electrical Workers unions.