Thirty percent of respondents to a P&I Online survey last week said they expect 20 to 30 corporate pension plans to offer lump-sum payments by the end of the year.
The poll was taken as part of the story, “Lump-sum payouts moving into fast lane,” published in the Oct. 15 issue of Pensions & Investments.
Twenty-eight percent of respondents believe more than 50 companies will issue lump-sum payments, 19% selected less than 20 companies, 13% selected 31 to 40 companies, and 10% selected 41 to 50 companies.
When the poll was started, P&I already had identified at least 12 companies announcing lump-sum offers: Archer Daniels Midland, A.H. Belo, Energy Future Holdings, Equifax, Ford, General Motors, New York Times, Sears Holding, NCR Corp., Thomson Reuters, Visteon and Yum! Brands.
Since the story was published, Baxter International also announced a lump-sum payment.
A calculation changed by the federal highway law, signed in July, resulted in more corporate pension plans being at the 80% funded level required in order to offer lump-sum payments.
Below is this week's question.