Union pension plans
News and video about Union pension plans from Pensions & Investments.
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.
InvestorForce universes gain 5% in 2014; corporate pension funds lead the way
trueInvestorForce Plan Universes funds had a median net return of 5% in 2014. The median return gross of fees was 5.4%.
DOL rule for plan funding notices applies to single-employer plans for first time
trueSingle-employer defined benefit plan sponsors covered by ERISA have new guidelines for annual funding notices in a final rule published Monday by the Department of Labor's Employee Benefits Security Administration.
Plan funding notices to apply to single-employer plans for first time; final rule expected Feb. 2
trueSingle-employer defined benefit plan sponsors covered by ERISA will have new guidelines for annual funding notices when the Department of Labor's Employee Benefits Security Administration publishes a final rule Feb. 2.
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.