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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.
Moody's finds decline in public pension liabilities in fiscal year 2013
trueState public pension funds saw a decline in liabilities in fiscal year 2013, thanks to favorable investment performance and higher contribution levels, said Moody’s Investors Service.
PBGC multiemployer program deficit offsets single-employer improvement
trueMultiemployer pension funds caused a record deficit for the Pension Benefit Guaranty Corp., its annual report shows.
State pension funds' combined underfunding rises to $4.7 trillion — report
trueState employee retirement systems are underfunded by a total of $4.7 trillion for a funding ratio of 36%, said a report from State Budget Solutions, a non-profit organization advocating state budget reform.
Multiemployer plans in construction industry improving, but still struggling
trueMultiemployer defined benefit plans in the construction industry saw some improvement in funding levels in the past 10 years, but continue to struggle with shifting demographics, said a new report by the Mechanical Contractors Association of America and Horizon Actuarial Services.
Milliman: Lower rates sink corporate funding ratios again
trueThe funded status of the 100 largest U.S. corporate defined benefit plans fell to 84.8% in October, down 30 basis points from the previous month, said the Milliman 100 Pension Funding index.
U.K. pension funding deficit jumps 14.3% in October
trueThe aggregate deficit of occupational pension funds in the U.K. Pension Protection Fund’s 7800 index increased 14.3% to £164.9 billion ($261.3 billion) in October.
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.
Milliman: 100 largest public plans see slight funded status gain in 2013
trueThe aggregate funded status of the 100 largest public pension funds increased slightly last year from a market value perspective, said Milliman’s 2014 Public Pension Funding Study.
Volatile October ends up leaving funding ratios relatively flat — 3 reports
truehe funded status of U.S. corporate defined benefit plans was relatively unchanged in October, said monthly reports from BNY Mellon, Wilshire Consulting and Mercer.
Illinois Teachers' funded status up modestly from strong returns
trueThe funded status of Illinois Teachers' Retirement System improved modestly to 44.2% as of June 30, compared with 42.5% a year earlier, thanks to good fiscal year investment returns.
Moody's: New mortality tables will increase pension liabilities by $110 billion
trueU.S. corporate defined benefit plan liabilities will increase about $110 billion due to new mortality tables recently published by the Society of Actuaries, a new Moody’s Investors Services report says.
Towers Watson: Benchmark index for pension plans drops in 5 of 7 markets
trueIndex results for benchmark corporate pension plans in five major regions fell in the third quarter because of falling interest rates and modest investment returns, said Towers Watson's quarterly report.
Insolvency rate slowing for U.K. companies with pension funds — report
trueThe insolvency rate of sponsoring employers with defined benefit plans that are eligible for inclusion in the U.K. Pension Protection Fund fell sharply over the nine months ended March 31.
Boeing offers lump-sum, immediate annuity options to 40,000 former employees
trueBoeing Co., Chicago, is offering an option of a lump-sum payout or an annuity to 40,000 former employees who have not yet retired, the first time the company has offered such choices from its existing defined benefit plans.