Pension plan terminations
Watch breaking news videos and read news updates about Pension Plan Terminations on pionline.com
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Is PBGC a better trustee?
When a company is in bankruptcy or facing financial hardship, at some point it might have to face the question of whether to terminate its defined benefit pension plans. This is a difficult decision, and hard as a plan sponsor tries, termination might turn out to be the only option.
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Disney shareholders rebuff pension funds' efforts to split chairman/CEO roleWalt Disney Co. investors turned back calls for a future split of the two top jobs held by Chairman and CEO Robert Iger, rejecting the demands of three state pension funds.
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Chicago Park Employees pension fund seeks infrastructure, risk-parity managers
Chicago Park Employees' Annuity & Benefit Fund is searching for managers to run $20 million each in infrastructure and risk-parity strategies.
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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.
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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.
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AMR seeks court approval to ground lump-sum benefit optionAmerican 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.
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Bakers' union pension fund asks for Chapter 11 trustee in Hostess caseA Hostess Brands union and a pension fund asked the judge overseeing the company's bankruptcy to appoint a Chapter 11 trustee to take control of the wind-down of the maker of Twinkies and Wonder Bread.
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Poll results: Did you stockpile Twinkies or other Hostess products after the company's liquidation announcement?About 18% of respondents to a P&I Online survey last week wanted to stockpile Twinkies and other Hostess Brands Inc. products as a result of the company's liquidation announcement.
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Hostess Brands to terminate pension plan as part of liquidationHostess Brands Inc. will terminate its defined benefit plan, and the Pension Benefit Guaranty Corp. will assume its liabilities.
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30% of eligible retirees take GM lump-sum offer - Pensions & InvestmentsGeneral Motors Co. reported Wednesday that about 30% of eligible salaried retirees accepted the automaker's lump-sum pension offer.
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Yum! Brands serves up lump sums to some former employeesYum! Brands Inc. on Tuesday announced it will offer a lump-sum payout to “certain former employees” participating in its U.S. defined benefit pension plans, according to an 8-K filing with the SEC.
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Ex-Chrysler executives can continue with age-bias retirement suit
A group of former Chrysler LLC executives who lost all or most of their supplemental retirement benefits when the automaker went bankrupt in 2009 won a court ruling that lets them proceed with age-bias claims.
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PBGC takes over pension plan of Jewish advocacy group
The PBGC is taking over and terminating a pension plan sponsored by B'Nai B'rith International, a Washington-based Jewish advocacy organization.
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Hawker Beechcraft to terminate 2 DB plans, freeze 1Hawker Beechcraft Inc. will terminate its two non-union pension plans and freeze the defined benefit pension plan for machinists union workers as part of its bankruptcy process.
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PBGC undervalued pension assets for terminated United Airlines plansThe PBGC on Wednesday said it undervalued United Airlines' pension assets by 0.75%, or $58 million.
