Union pension plans
News and video about Union pension plans from Pensions & Investments.
Teamsters, machinists, aerospace unions support bill to repeal multiemployer reforms
trueInternational Brotherhood of Teamsters endorsed legislation introduced Thursday that would repeal the Multiemployer Pension Reform Act of 2014.
Central States unveils website for rescue plan to save underfunded pension plan
trueTeamsters Central States, Southeast & Southwest Areas Pension Plan acknowledged “clearly the math will never work” on funding its defined benefit plan, said a new website it created to provide details of a “rescue plan” it is developing.
Treasury Department preps regulations for implementing multiemployer law
trueThe Treasury Department on Wednesday released proposed and temporary regulations for implementing the Multiemployer Pension Reform Act of 2014, which among other things, allows severely distressed plans to reduce benefits and allows the Pension Benefit Guaranty Corp. to partition some plans to save ...
Corporate pension funds again top BNY Mellon Master Trust Universe
trueThe median return of all plans in the BNY Mellon U.S. Master Trust Universe was 2.4% in the first quarter of 2015, up from 1.62% in the fourth quarter of 2014 and driven by strong returns in non-U.S. equities and real estate.
Senators urge caution on multiemployer cuts
trueDemocratic members of the Senate Finance Committee asked Treasury Department officials to tread carefully as they develop the process for implementing multiemployer pension reforms enabling some plans to cut benefits.
Advocates push for more multiemployer reform
trueMultiemployer pension reform advocates continue to pursue what they consider a critical missing piece in new legislation: a regulatory green light to do more alternative plan designs.
Milliman: Multiemployer pension funding ratios drop slightly in 2014
trueThe aggregate funded status of U.S. multiemployer pension plans fell slightly to 80% in 2014, down one percentage point from the end of 2013, as liabilities rose faster than assets, said a report from Milliman.
PBGC study: Multiemployer benefit cuts will be deeper
trueMore than half of multiemployer plan participants will have their benefits reduced if their plans become insolvent and rely on government guarantees in the near future, said a study released Wednesday by the Pension Benefit Guaranty Corp.
Sheet Metal Workers' pension fund administrator to retire
trueMarc LeBlanc is retiring as fund administrator and general counsel of the $4 billion Sheet Metal Workers’ National Pension Fund, Fairfax, Va.
Merchant Navy Ratings plan gets approval to require all employers to pay down deficit
trueTrustees of the Merchant Navy Ratings Pension Fund won approval from the High Court of Justice on Wednesday to introduce a new deficit contribution plan that requires all employers to pay contributions to deal with a more than £300 million ($462.8 million) deficit.
Pension cuts? All I worked "now was for nothing'
truePension cuts? All I worked "now was for nothing'
Society of Actuaries: Expect long-term increase to minimum required contributions
trueMinimum required contributions for private-sector defined benefit plans have dipped in recent years, but are poised to rise again in the long term, the Society of Actuaries said.
IRS to seek input on multiemployer suspensions
trueThe IRS will seek public input on how to handle benefit reductions now allowed for troubled multiemployer pension funds.
Wilshire TUCS: 2014 marked 6th up year
trueTrusts in the Wilshire Trust Universe Comparison Service returned a median 1.7% in the fourth quarter and a median 6% for calendar 2014.
Multiemployer plans untangle reforms
trueSome multiemployer pension fund executives are trying to figure out whether to take advantage of a controversial new reform law that allows potential benefit cuts for participants and retirees. Others are hoping for further reforms to allow for alternative plan designs.