Boeing preps $1.7 billion in hedge fund searches
By Barry B. Burr November 18, 2009Boeing Co., Chicago, plans to search early next year for direct hedge funds to invest almost $1.7 billion, said Andrew Ward, CIO.The searches will begin after officials at the $43.6 billion...
Reader's Digest plan trustee challenges reorganization
By Arleen Jacobius November 17, 2009Reader's Digest Association Inc.'s Chapter 11 bankruptcy reorganization is being challenged by a trustee of the company's U.K. pension plan, claiming the company did not disclose that the plan was...
Full plate awaiting PBGC chief
By Doug Halonen November 16, 2009Joshua Gotbaum, President Barack Obama's nominee to lead the Pension Benefit Guaranty Corp., will have a long to-do list at the agency.
McCain goes with State Street for custody
By Timothy Inklebarger November 13, 2009McCain Foods Ltd., Toronto, picked State Street Corp. to provide global custody, accounting, benefit payments and investment analytics for its combined C$300 million (US$286.4 million)...
Pitney Bowes to freeze 2 DB plans in 2014
By Douglas Appell November 12, 2009Pitney Bowes Inc., Stamford, Conn., will freeze two defined benefit plans at the end of 2014, according to an SEC filing today.The Pitney Bowes Pension Restoration Plan and the Pitney Bowes Inc....
U.K. newspaper scheme selects consultant, actuary
By Drew Carter November 11, 2009Midland Independent Newspapers Pension Scheme, Birmingham, England, hired JLT Benefit Solutions as investment consultant and actuary, according to a JLT news release.Watson Wyatt Worldwide ...
Prudential makes grade with Evonik Degussa plans
By Timothy Inklebarger November 9, 2009Evonik Degussa Corp., Newark, N.J., hired Prudential Retirement as manager and administrator of its defined benefit, defined contribution and non-qualified retirement plans, confirmed Evonik...
CIT to keep its cash balance, 401(k) plans
By Doug Halonen November 3, 2009CIT Group Inc., Livingston, N.J., plans to maintain its cash balance and 401(k) plans as it reorganizes under Chapter 11 bankruptcy protection, according to documents filed with the U.S. Bankruptcy...
Microsoft names 1st global benefits chief
By Arleen Jacobius November 3, 2009Fred J. Thiele was named director of global benefits at Microsoft Corp., Redmond, Wash., a Microsoft spokesman confirmed.The position is new.Mr. Thiele was global retirement director...
Qwest to freeze 2 management plans
By Timothy Inklebarger November 2, 2009Qwest Communications will freeze future benefit accruals to its pension plan for current management employees, effective Jan. 1.
Billions contributed to boost funding levels
By Timothy Inklebarger November 2, 2009Companies are adding billions in contributions to their decimated pension plans, desperately trying to boost funding levels.
BP plan won't abandon equity market
By Drew Carter November 2, 2009While many European corporate pension plans are moving into bonds and alternatives to reduce volatility in their funding levels, BP PLC's £12.7 billion ($21.1 billion) pension fund is sticking with its 75% equity allocation.
$1.5 billion in Boeing stock to go to plans
By Barry B. Burr October 26, 2009Boeing Co., Chicago, plans to contribute up to $1.5 billion in company stock to its defined benefit pension plans before the end of the year and will have an independent manager to run the shares on...
2nd straight quarter of gains for institutional investors
By Gregory Crawford October 23, 2009Solid gains in emerging market equities and small-cap stocks helped institutional investors post a second straight quarter of strong gains, pushing corporate and public plans funds into positive territory for the 12 months ended Sept. 30, according to Northern Trust.
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