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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.
Milliman: Corporate pension plan funding inches down in July
trueThe funded status of the 100 largest U.S. corporate pension plans dropped to 85% in July, down from 85.3% in June, said the latest Milliman 100 Pension Funding index.
U.K. pension funding deficit rises 12.6% in July
trueThe aggregate deficit of U.K. occupational pension funds in the Pension Protection Fund's 7800 index increased 12.6% to £122.7 billion in July.
SEC, Kansas settle over state's pension fund disclosure in bond offerings
trueThe state of Kansas reached a settlement with the Securities and Exchange Commission Monday
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.
NISA: Funded status volatility back up from historic low
trueAfter hitting a historic low in June, the NISA Investment Advisors Pension Surplus Risk index rose 80 basis points to 9.4% at the end of July.
Mercer: S&P 1500 funded status flat at 85% in July
trueThe funded status of S&P 1500 companies with defined benefit plans remained at 85% in July due to falling equity markets and slightly rising interest rates, said a monthly report from Mercer.
FTSE 350 pension plan deficit up 3.6% in July
trueThe total deficit of defined benefit plans at companies in the U.K.’s FTSE 350 increased 3.6% during July to £116 billion ($195.6 billion).
Ontario utility pension funds unstable, government report says
trueOntario’s four government-run energy-sector pension plans with a combined C$15.8 billion (US$14.5 billion) in assets are unstable and don’t have strategies to handle future deficits if they underperform actuarial assumptions, said an Ontario Finance Ministry report.
BNY Mellon: DB plan funded status falls in July
trueThe funded status of a typical U.S. corporate defined benefit plan dropped to 90.8% in July, down 1.2 percentage points from June, said the BNY Mellon Institutional Scorecard.
Church-plan status under increased scrutiny
trueA growing number of lawsuits and some key court rulings are making it harder for church-affiliated defined benefit plans to be exempt from the Employee Retirement Income Security Act.
Senate passes House version of highway bill
trueThe U.S. Senate approved on Thursday the House version of a highway funding bill that includes more generous pension funding calculations.
Senate reduces pension smoothing measures for highway bill
trueThe Senate version of a highway funding bill approved Tuesday calls for less generous pension funding calculations for defined benefit plans than a House plan approved July 15.
New actuary tables may be 'nail in the coffin' for DB plans
trueThe measured value of liabilities for most defined benefit plans will increase between 3% and 8% with the adoption of new mortality tables, said a report from Wilshire Consulting.
S&P 500 company pension deficit drops 50% in 2013
trueS&P 500 pension plan underfunding was cut in half to $224 billion in fiscal year 2013, down from $452 billion in 2012, said research by S&P Dow Jones Indices.