30 04, 2019

CII urges SEC to require clear disclosure on CEO pay

2019-04-30T08:23:36-07:00April 30th, 2019|Categories: Corporate Governance|Tags: , , |

The Council of Institutional Investors filed a petition Monday with the Securities and Exchange Commission urging the agency to require public companies to explain in their proxy statements why and how non-standard metrics are used to determine CEO pay. CII has heard complaints from asset owners and managers about the complexity in executive pay, Executive Director Ken Bertsch said in a call with reporters Monday. Robert Pozen, senior lecturer at the MIT Sloan School of Management and a senior [...]

29 04, 2019

Employer Contributions Aid in DB Plan Funding Progress

2019-04-29T13:51:34-07:00April 29th, 2019|Categories: Defined Benefit Plans|Tags: , |

An analysis from the Society of Actuaries suggests the majority of defined benefit (DB) plan sponsors are doing a good job of making contributions that help reduce unfunded liabilities. The study compares employer contributions to single-employer DB plans to benchmarks for measuring whether pension plan contributions—absent other influences—reduced unfunded liabilities or met other benchmarks, such as regulatory requirements. The study considers five benchmarks that represent the contribution needed to: Satisfy the minimum required contribution (MRC) as defined by Internal [...]

24 04, 2019

Confidence in Retirement Security Rebounds to Pre-Financial Crisis Levels

2019-04-24T10:50:14-07:00April 24th, 2019|Categories: Retirement|Tags: |

The 2019 Retirement Confidence Survey (RCS) finds 82 percent of retirees are confident in their ability to live comfortably throughout retirement, up from 75 percent last year and comparable to highs measured in 2005 and 2017. Furthermore, the percentage of workers who say they are very confident in their ability to live comfortably throughout retirement reached 23 percent, up from last year’s 17 percent and now reflecting levels measured more consistently in the late 1990s and early 2000s, prior [...]

24 04, 2019

Brazil pension reform is constitutional, congressional committee votes

2019-04-24T10:47:44-07:00April 24th, 2019|Categories: Pension Reform|Tags: , |

Pension reform in Brazil cleared a congressional hurdle late on Tuesday after a lengthy and tumultuous debate, a sign that the government was finally building support for its most important economic reform, but which may face a steep climb ahead. The Constitutional and Legal Affairs Committee (CCJ) in the lower house of Congress approved the constitutionality of a reform bill by 48 votes to 18, paving the way for analysis and discussion by a special commission. However, that optimism [...]

23 04, 2019

Workers Are Pushing for Their Share of U.S. Bankruptcy Payouts

2019-04-23T13:51:15-07:00April 23rd, 2019|Categories: Pension Funding|Tags: , |

Workers can lose everything when their employer files for bankruptcy. At least for now. A pro-labor movement sparked by the employees of Toys “R” Us Inc., and taken up by Sears Holdings Corp., has reached the U.S. Congress. Representative Tim Ryan, an Ohio Democrat, said he plans to reintroduce 2017 legislation that would define worker claims in bankruptcy as administrative expenses, meaning they’d be paid in full, like the investment bankers, consultants, lawyers and liquidators who earn millions of [...]

23 04, 2019

U.S. elderly are twice as likely to work now than in 1985

2019-04-23T12:04:54-07:00April 23rd, 2019|Categories: Retirement|Tags: |

Just as single-income families began to vanish in the last century, many of America's elderly are now forgoing retirement for the same reason: They don't have enough money. Rickety social safety nets, inadequate retirement savings plans and sky-high health-care costs are all conspiring to make the concept of leaving the workforce something to be more feared than desired. For the first time in 57 years, the participation rate in the labor force of retirement-age workers has cracked the 20% [...]

15 04, 2019

Why 8,000 Is The Most Important Number For Your Retirement Plan

2019-04-15T14:34:56-07:00April 15th, 2019|Categories: Retirement|Tags: |

My Uber driver and I struck up a conversation about the Orlando traffic and weather. The chatter soon drifted into stories about his experiences living and driving in Florida. I soon learned my driver’s name was Bob. Raising his voice, and turning to get a look at my face in his rearview mirror, Bob asked me, “How old do you think I am?” I am always nervous to make such a guess — uttering a number either too old [...]

11 04, 2019

Treasury and IRS move backward by giving a green light to offering retiree pension buyouts

2019-04-11T08:57:10-07:00April 11th, 2019|Categories: Pension Funding|Tags: , , |

Recently, the IRS walked back protections that limited a company’s ability to offer a lump-sum payout for the monthly benefit provided by its defined-benefit pension plan. This strategy of offering lump sums allows companies to reduce their liabilities before purchasing a group annuity from an insurance company — a process known as “de-risking.” This de-risking strategy made the headlines in the U.S. in 2012 with an initiative by General Motors GM wanted to transfer its liability for retiree benefits to [...]

11 04, 2019

Report card gauges union pension fund assets’ ties to building trades jobs

2019-04-11T08:44:00-07:00April 11th, 2019|Categories: Defined Benefit Plans|Tags: , , |

Some real estate and infrastructure fund managers dealing with building trades pension funds are doing better than others when it comes to connecting pension fund assets and union jobs, according to a report card released Wednesday at the North America's Building Trades Unions' Washington legislative conference. Building trades unions with a collective $600 billion in pension fund assets are increasingly demanding that connection, with a goal of moving $70 billion in pension assets over the next 10 years into [...]

10 04, 2019

Employees think they’re on track for retirement. Here’s where they’re wrong

2019-04-10T09:57:04-07:00April 10th, 2019|Categories: Retirement|Tags: |

Most Americans believe they’re on track for a comfortable retirement, according to a study from Natixis Investment Managers out Thursday. They feel they’re saving enough to enjoy the life they envision in their golden years. For the most part, however, they’re wrong, says Ed Farrington, executive vice president of U.S. distribution at the asset manager. In truth, not only are most workers not saving enough, but the amount they’ve salted away becomes more worrying as they age. That’s not [...]

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