pension funding – CORPaTH

8 07, 2022

Biden’s Ohio visit spotlights effort to rescue troubled MEPPs

CORPaTH2022-07-08T11:07:55-07:00July 8th, 2022|Categories: Pension Funding|Tags: multiemployer funds, Ohio, pension funding|

Source: Benefits Canada Reassuring frustrated blue-collar voters, U.S. President Joe Biden on Wednesday visited Ohio iron workers to highlight federal action to shore up troubled pension funding for millions now on the job or retired — and to make his political case that he’s been a champion for workers in the White House. Biden’s speech at a Cleveland high school showcased a final rule tied to his US$1.9 trillion coronavirus pandemic relief package from last year. The rule allows [...]

18 02, 2022

Majority of Ontario’s DB pension plans more than fully funded

CORPaTH2022-02-18T13:10:52-08:00February 18th, 2022|Categories: Defined Benefit Plans|Tags: canada, Ontario, pension funding|

Source: Benefits Canada The average Ontario defined benefit pension plan is in the best funded position since December 2009, according to the Financial Services Regulatory Authority of Ontario’s latest quarterly solvency report. It found 81 per cent DB plans had a solvency ratio greater than 100 per cent at the end of 2021, compared to 67 per cent at the end of the third quarter of 2021 and 45 per cent in the last quarter of 2020. In addition, [...]

4 02, 2022

Typical DB pension scheme can fund 98.4% of benefits in ‘new high’

CORPaTH2022-02-04T11:57:15-08:00February 4th, 2022|Categories: Defined Benefit Plans|Tags: db schemes, pension funding, Pension Health, uk|

By Jack Gray Source: Pensions Age The health of defined benefit (DB) schemes in the UK reached a “new high” in Q4 2021, with the typical scheme expected to be able to fund 98.4 per cent of accrued pension benefits, according to Legal & General Investment Management (LGIM). The typical scheme being able to fund 98.4 per cent of accrued benefits, as at 31 December 2021, was 0.1 percentage points higher than the 98.3 per cent figure recorded at [...]

17 01, 2022

Big pensions are nearly 100% funded, the healthiest they’ve been since 2008 financial crisis

CORPaTH2022-01-17T10:56:08-08:00January 17th, 2022|Categories: Pension Funding|Tags: pension funding, public pensions|

By Greg Iacurci Source: CNBC The pension plans of big U.S. companies haven’t looked this good since before the 2008 financial crisis — and that’s good news for workers and employers. A pension’s “funded” status is a core gauge of its health. It’s a measure of plan assets relative to liabilities (how much money the plan needs to pay future income). Pensions less than 100% funded don’t have enough money on hand to meet future obligations to retirees. The [...]

7 07, 2021

Canadian DB pensions see improved funded position, investment returns

CORPaTH2021-07-07T09:03:28-07:00July 7th, 2021|Categories: Defined Benefit Plans|Tags: canada, pension funding|

Source: Benefits Canada The aggregate funded ratio for Canadian defined benefit pension plans in the S&P/TSX composite index increased from 94.8 per cent in the first quarter of 2021 to 95.6 per cent in the second quarter, according to a new report from Aon. It also found pension assets rose by four per cent during the same period. The rise was credited to positive returns on fixed income assets and continued strong equity market performance. However, long term Government of [...]

11 06, 2021

DB Plan Funded Status Remains Stable in May

CORPaTH2021-06-11T14:27:07-07:00June 11th, 2021|Categories: Defined Benefit Plans|Tags: pension funding|

By: Rebecca Moore Source: Plan Sponsor The aggregate funded ratio for U.S. defined benefit (DB) pension plans sponsored by S&P 500 companies increased by an estimated 0.1 percentage point month-over-month in May to end the month at 94.2%, according to Wilshire. The monthly change in funding resulted from a 0.6 percentage point increase in asset values partially offset by a 0.7 percentage point increase in liability values. The aggregate funded ratio is estimated to have increased by 6.4 and [...]

26 02, 2021

Pensions Need Help From Congress

CORPaTH2021-02-26T08:18:40-08:00February 26th, 2021|Categories: Multiemployer Plans|Tags: congress, pension funding|

The House plans to vote on a COVID reconciliation bill this week. It is vital that Members of Congress support the pension provisions it contains. Before the pandemic, a small but important group of multiemployer pension plans was heading toward insolvency. These insolvencies will cause the federal government’s Pension Benefit Guaranty Corporation (PBGC) to become insolvent. These insolvencies will cause 1.3 million Americans to lose about 98 percent of their pension income and be forced onto the federal government’s [...]

6 11, 2020

51% likely to review or reduce pension contributions due to Covid-19 pandemic

CORPaTH2020-11-06T11:39:36-08:00November 6th, 2020|Categories: Pension Funding|Tags: COVID-19, pension funding|

Approximately half (51%) of UK savers are likely to review or reduce pension contributions in favour of short-term saving or debt reduction or elimination as a result of the Covid-19 (Coronavirus) pandemic, according to research by BlackRock. Its Defined contribution (DC) pulse survey, which surveyed 1,000 UK savers, also found that 76% agree that they need to be more careful about their financial future, although a further 44% see retirement saving as important. However, more than half (51%) said [...]

29 09, 2020

State increased public pension assets despite pandemic

CORPaTH2020-09-29T12:41:56-07:00September 29th, 2020|Categories: Pension Funding|Tags: COVID-19, indiana, pension funding|

Indiana’s public pension funds for state and local government employees, including teachers, has apparently weathered the financial markets’ volatility during the coronavirus pandemic, new data from the state show. The General Assembly’s Pension Management Oversight Committee heard Wednesday that the Indiana Public Retirement System increased its pension assets by 2.56% to $30.6 billion during the 2020 budget year, which ran from July 1, 2019, to June 30, 2020. According to INPRS, the state’s prepaid pension programs were 90.6% funded, [...]

9 07, 2020

Pension plans see rebound in second quarter

CORPaTH2020-07-09T14:59:45-07:00July 9th, 2020|Categories: Pension Funding|Tags: COVID-19, pension funding|

The funding status of the largest corporate pension plans in the U.S. have rebounded during the second quarter of 2020, due to improvements in the equity and bond markets, according to Willis Towers Watson data. “The first quarter was a more difficult quarter for the equities,” says Joseph Gamzon, senior director of retirement at Willis Towers Watson, a global advisory, broking and solutions company. “For most pension plan sponsors the combination of the equity markets performing well and the [...]

6 03, 2020

Safeway, Giant agree to guarantee pension payments for UFCW members

CORPaTH2020-03-06T09:19:36-08:00March 6th, 2020|Categories: Defined Benefit Plans|Tags: pension funding, safeway, ufcw local 400|

Members of two United Food & Commercial Workers locals in the Washington region reached a collective bargaining agreement with Safeway Inc. on Wednesday that guarantees full funding of pension benefits for current employees and retirees. A similar agreement was also reached with Giant Food of Maryland, which in February reached a tentative agreement. Union officials said that the more contentious Safeway agreement, ratified by local members hours before a planned strike, was one of very few agreements guaranteeing pensions. [...]