Union pension plans
News and video about Union pension plans from Pensions & Investments.
Sacramento Regional Transit District seeks custodian for 2 pension funds
trueSacramento (Calif.) Regional Transit District is searching for a custodian for its two defined benefit pension funds, confirmed Colleen Trant, procurement analyst.
Multiemployer plans well on road to recovery, report says
trueMultiemployer defined benefit plans hurt by the 2008 financial crisis are recovering as markets improve and trustees make adjustments, according to a new report from the International Foundation of Employee Benefit Plans and Horizon Actuarial Services.
PBGC eyes little-used tool for plan insolvencies
truePBGC management hopes to take greater advantage of a little-used tool for restructuring multiemployer pension plans, as the number of candidates likely to seek the agency's help grows.
PBGC restructures multiemployer plan, takes over Hostess payments
trueThe Pension Benefit Guaranty Corp. restructured a multiemployer pension plan and took over benefit payments for former Hostess Brands participants, allowing the Bakery and Sales Drivers Local 33 Industry Pension Fund in Baltimore to remain solvent, the agency announced Friday.
Union pension fund sues over Suntory acquisition of Beam
trueNECA-IBEW Pension Trust Fund filed suit Wednesday against Beam Inc. over its proposed takeover by Suntory Holdings Inc.
U.K. pension funding deficit plummets in December
trueThe aggregate deficit of defined benefit occupational pension funds in the U.K. in the Pension Protection Fund's 7800 index, more than halved in December, to £27.6 billion ($45.3 billion).
Boeing union workers trade DB pension for employment promise
trueBoeing Co. gained a decade of labor peace after its largest union voted to accept contract concessions — including moving to a defined contribution plan — in exchange for a promise to base production of the new 777X jet and three other models at the company's Seattle hub.
PBGC changes payment schedule on premiums to once a year
trueThe PBGC announced Friday it would no longer require large single-employer and multiemployer defined benefit pension plans to pay their premiums twice a year.
PBGC deficit rises to nearly $36 billion
trueThe PBGC had a record deficit of $35.7 billion as of Sept. 30.
Boeing's largest union rejects swapping pensions for 777X production
trueBoeing Co.'s largest union balked at a company proposal to freeze pensions in exchange for rights to build the new 777X in Washington state, casting doubt over the future of manufacturing at the company's Seattle hub.
BNY Mellon U.S. Master Trust Universe returns median 4.47% in quarter
trueThe median return of all plans in the BNY Mellon U.S. Master Trust Universe was 4.47% in the third quarter, a vast improvement from the -0.05% median return in the second quarter.
Union and retiree pressure mounting against multiemployer pension fund reform
trueA package of reform proposals to help the most troubled multiemployer pension funds is running into more opposition from some union and retiree advocates.
Congress must act to save multiemployer pension plans
trueRetirement security for millions of skilled American workers is at stake without Congress taking action to shore up multiemployer pension plans.
GM right to add to union pensions during bailout — Obama's auto czar
trueGeneral Motors Co. managers, not U.S. Treasury officials, decided to boost pensions of hourly Delphi Automotive PLC workers to help secure an agreement critical to GM's bailout, the program's architect said.
BlackRock gets dismissal of securities-lending suit
trueA federal court judge in Tennessee on Wednesday dismissed a lawsuit filed by two union pension funds over excessive fees they claimed BlackRock charged for securities lending linked to the money manager's iShares unit.