Corporate pension plans mark sad milestone

2014-02-04T23:22:26-08:00February 3rd, 2014|Categories: Defined Benefit Plans|Tags: , , , , |

Corporate America’s move away from defined benefit plans hit a dubious milestone: For the first time since Pensions & Investments began listing the largest U.S. retirement plans, not a single corporate name appears in the ranking of the 10 largest defined benefit plans. General Motors Co., Detroit, was the final company to make the top 10. But GM transferred $29 billion to a group annuity in the fourth quarter of 2012. As a result, its DB assets fell to $73.5 billion [...]