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 Plan
Pensions
PPG Agrees to Transfer Pensions of 4,000 Retirees
The $309M transaction moves the liabilities to insurers Legal & General and RGA.
Taxpayer Costs Rise When States Move Out of DB Pensions
Research says changing benefits for new hires does not solve funding shortfalls.
US Defined Benefit Plans Rise in Q2, Recoup Losses from Q4 2018
The 100 largest US public DB plans saw a $50 billion rise in funding during the quarter.
US Corporate Pension Funding Rebounds from May Drubbing
The funded status of the 100 largest corporate DB plans edged higher to 88% in June.
Research
Canadian DB Plans Flat in Q2 Despite Strong Returns
Falling bond yields prove too much for robust asset gains.
Newsmakers
BMW to Freeze US Pension Program, Shunt Workers into DC Plan
Decision to shift American workforce into a defined contribution plan comes amid dropping earnings at the carmaker.
UK Corporate Pension Deficit Nearly Triples in October
Aggregate deficit of PPF 7800 balloons to £107.7 billion as funding level drops 4.1%.
Research
Canadian DB Pension Funds’ Cup Runneth Over
Funded status of Canadian plans surges well above 100% in Q3.
Southampton University Is Closing Its DB Plan for Future Non-Teaching Members
Contributions may increase for existing beneficiaries.
US Public Pensions’ Funded Status Falls to 71.4% in Q1
Milliman reports a 1.7% drop in the funded ratio of US DB plans from the end of 2017.
Research
Canadian Pension Investments Edge Higher in Q1
Defined benefit plans return 0.2% after gaining 4.4% in previous quarter.
UK Corporate DB Plans’ Deficit Soars 60% in March
Despite the sharp rise, the aggregate deficit is down 29% from 2017.
Corporate, Public Pensions’ Futures Diverge
Report finds pubic pensions are hunkering down as corporate pensions are winding down.
Opinion
Montana Rep. Offers $700 Million State Public Pension Solution
Cites problems coming from “highly optimistic” rate of return, lack of employee contributions.