Union pension plans
News and video about Union pension plans from Pensions & Investments.
Congress did the right thing to protect multiemployer plans
trueCongress made the right decision to allow severely financially distressed multiemployer pension plans to cut retiree benefits.
Multiemployer plans can cut benefits to stay solvent
trueTrustees of distressed multiemployer pension funds got new tools to avert insolvency in a package of reforms approved by Congress in mid-December, including the right to reduce benefits for active workers and retirees in deeply underfunded plans.
Senate follows House in passing bill allowing relief for multiemployer plans
trueStruggling multiemployer pension funds will be able to reduce retiree benefits under legislation that received final Senate approval Saturday as part of a congressional spending package already approved by the House.
House passes multiemployer pension reform
trueThe House approved late Thursday a package of reforms available to struggling multiemployer pension funds, as part of a congressional spending deal that the Senate must vote on by Saturday.
Proposed Congress spending bill allows some multiemployer plans to cut retiree benefits
trueControversial reforms for multiemployer pension funds will be part of a congressional spending deal set for a final vote Thursday.
Immediate multiemployer reforms urged
trueThe increasing risk that some multiemployer pension funds will be insolvent is putting pressure on lawmakers to enact some sweeping reforms in the final days of the 113th Congress before their scheduled adjournment Dec. 11.
OPTrust names new president, CEO
trueHugh O'Reilly on Thursday was named president and CEO of OPTrust, Toronto, effective Jan. 1.
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.
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.
Asset owners' returns fall in 3rd quarter, 2 reports find
trueThe median return of all plans in the Wilshire Trust Universe Comparison Service and BNY Mellon Trust Universe and was -0.84% and -0.83%, respectively, for the third quarter of 2014, the first negative quarter since the second quarter last year.
Supreme Court hears arguments on Omnicare securities case
truehe Supreme Court heard arguments Monday in a lawsuit challenging whether investors have a legal case if a securities registration statement contains opinions that could be considered misleading.
InvestorForce universes drop 1.1% in third quarter
trueInvestorForce Plan Universes funds posted a median net return of -1.14% in the quarter ended Sept. 30. The median return gross of fees in the quarter was -1.03%.
PBGC helps 2 New York multiemployer plans
trueThe Pension Benefit Guaranty Corp. is offering financial assistance to two insolvent multiemployer pension plans in New York.
Trump Entertainment can't stop funding union pension plan, judge says
trueTrump Entertainment Resorts, the bankrupt Atlantic City, N.J., casino owner, was denied court approval to immediately stop contributing to a union pension fund, a blow to its restructuring effort that threatens the future of its remaining casino.
Investors seek political contribution disclosure, end to exec tax payment at FedEx
trueFedEx Corp. shareholders face separate proxy proposals from the New York City Retirement Systems and the International Brotherhood of Teamsters General Fund, calling for, respectively, disclosure of the company's political contributions and an end to paying personal taxes executives own on the ...