Pension plan terminations
Watch breaking news videos and read news updates about Pension Plan Terminations on pionline.com
Stroh's calls closing time on defined benefit plan
trueStroh Cos. Inc. has asked the Pension Benefit Guaranty Corp. to take over its defined benefit plan.
Fannie and Freddie told to terminate DB plans
trueThe Federal Housing Finance Agency announced on Friday it has directed Fannie Mae and Freddie Mac to terminate their defined benefit pension plans.
New York State Common commits to 2 European private equity funds
trueNew York State Common Retirement Fund, Albany, committed €250 million ($329.4 million) to CVC European Equity Partners VI, managed by CVC Capital Partners, confirmed Eric Sumberg, a spokesman for Thomas DiNapoli, the New York state comptroller and sole trustee of the $158.7 billion pension fund.
Georgia's Thomasville Employees seeks actuary
trueThomasville (Ga.) Employees' Retirement System is searching for an actuary.
PBGC to take over Butzel Long pension fund
trueThe PBGC will take over the defined benefit pension fund of Butzel Long, a Detroit-based law firm.
Is PBGC a better trustee?
trueWhen 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.
Disney shareholders rebuff pension funds' efforts to split chairman/CEO role
trueWalt 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.
Chicago Park Employees pension fund seeks infrastructure, risk-parity managers
trueChicago Park Employees' Annuity & Benefit Fund is searching for managers to run $20 million each in infrastructure and risk-parity strategies.
Aon Hewitt: Corporate plans eyeing jump through lump-sum window
trueMore 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.
NAPF survey: Corporate U.K. DB plans closing at faster pace
trueU.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.
AMR seeks court approval to ground lump-sum benefit option
trueAmerican 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.
Bakers' union pension fund asks for Chapter 11 trustee in Hostess case
trueA 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.
Poll results: Did you stockpile Twinkies or other Hostess products after the company's liquidation announcement?
trueAbout 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.
Hostess Brands to terminate pension plan as part of liquidation
trueHostess Brands Inc. will terminate its defined benefit plan, and the Pension Benefit Guaranty Corp. will assume its liabilities.
30% of eligible retirees take GM lump-sum offer - Pensions & Investments
trueGeneral Motors Co. reported Wednesday that about 30% of eligible salaried retirees accepted the automaker's lump-sum pension offer.