Corporate Moves
3M to Freeze Nonunion Pension Plans in 2028
The company is focused on ‘providing employees with more flexibility and control’ by moving to the 401(k) structure.
Tag: Defined benefit (db) pension plans
Pensions
Funded Levels Rose for Canadian DB Plans in 2023, But Risks Remain
Interest rates and market volatility continue to pose a significant risk for many plans.
Regulation
SECURE 2.0 Cash Balance Reforms Codified by IRS
The changes should make it easier for defined benefit plans to pass IRS backloading tests.
Asset Allocation
EDHEC Institute Warns UK Pensions Against Investing in Infrastructure
Report says ‘remarkably poor and unreliable’ data on the asset class is a stumbling block for defined benefit plans.
Pensions
ATI to De-Risk Nearly $1.8B in Pension Obligations
The firm will transfer 85% of its U.S. defined benefit plan obligations to Athene through annuity contracts.
Pensions
New Jersey Police, Fire Pension Seeks CIO, Plans to ‘Dramatically’ Expand Staff
The $31 billion pension fund has also issued an RFP for a custodial services provider.
Regulation
SECURE 2.0 Allows More Pension Funds to Transfer Money to Health Plans
But the transfers are small and to a rarely offered account type, which means not many plans are taking advantage.
Opinion
PBGC Premiums and Washington’s Fuzzy Math
Billions that Congress counts as revenue are contributing to the demise of traditional pension funds.
Asset Allocation
Ontario Teachers’ Pension Reports 1.9% Return for 1H 2023
The C$250 billion pension fund also netted a 4.8% return for the 12-month period that ended June 30.
Pensions
Fully Funded Status of Canadian DB Plans Keeps Rising in Q2
Positive asset returns, combined with rising bond yields, helped boost pension funds’ solvency.
Pensions
US Corporate Pensions Rebound to Fully Funded Status
The 100 largest corporate DB plans in the U.S. saw their collective funded ratio rise to 100.7% in May.
Pensions
PPG Agrees to Transfer Pensions of 4,000 Retirees
The $309M transaction moves the liabilities to insurers Legal & General and RGA.
Risk
Union Warns Pension Funds to Be Wary of Private Equity-Backed PRT Insurers
UNITE HERE singles out Brookfield-owned American National Insurance Company as using risky strategies.
Pensions
US Pension Risk Transfer Market Hit $51.8 Billion in 2022
Higher interest rates drove a spike in transactions, Aon reports.
Pensions
Alaska Bill Seeks to Revive Defined Benefit Pension
Bipartisan legislation is intended to attract workers to fill state job vacancies.