Corporate pensions

Kodak moves all employees to single cash balance plan benefit formula

Kodak moves all employees to single cash balance plan benefit formula

Eastman Kodak Co., Rochester, N.Y., is moving all of its U.S. employees to a cash balance plan with a single pension benefit formula, effective Jan. 1.

August 07, 2014 | 01:31 pm

Buck Consultants to freeze pension plan at year-end

Buck Consultants at Xerox, New York, on Wednesday said it will freeze its defined benefit plan at the end of 2014 and enhance its 401(k) plan.

August 06, 2014 | 04:51 pm

FTSE 100 companies decrease cash contributions to plans in 2013

FTSE 100 companies provided additional security to their pension funds via promises of non-cash contributions during 2013 at the expense of cash contributions, with 38 firms reporting this kind of...

August 06, 2014 | 03:58 pm
Miki Travel enters into pension buyout with PIC

Miki Travel enters into pension buyout with PIC

Miki Travel Ltd. Pension & Assurance Scheme, London, entered into a pension buyout with Pension Insurance Corp., covering £45 million ($75.9 million) of liabilities.

August 06, 2014 | 12:31 pm

Mercer: S&P 1500 funded status flat at 85% in July

The funded status of S&P 1500 companies with defined benefit plans remained at 85% in July due to falling equity markets and slightly rising interest rates, said a monthly report from Mercer.

August 05, 2014 | 02:51 pm

FTSE 350 pension plan deficit up 3.6% in July

The total deficit of defined benefit plans at companies in the U.K.’s FTSE 350 increased 3.6% during July to £116 billion ($195.6 billion).

August 05, 2014 | 12:05 pm

Keeping the PBGC from being the next bailout recipient

A series of recently issued reports have addressed various governance and financial challenges facing the Pension Benefit Guaranty Corp. The takeaway from all of them is that unless changes are made...

August 04, 2014
Senate passes House version of highway bill

Senate passes House version of highway bill

The U.S. Senate approved on Thursday the House version of a highway funding bill that includes more generous pension funding calculations.

August 01, 2014 | 12:06 pm
Philips does pension buy-in with Prudential for U.K. plan

Philips does pension buy-in with Prudential for U.K. plan

Philips Pension Fund, Guildford, England, entered into a £300 million ($509.4 million) pension buy-in with Prudential U.K., its second buy-in in the past year.

July 25, 2014 | 12:16 pm

Schneider Electric names U.K., Ireland pensions manager

Jerry Gandhi joined Schneider Electric as pensions manager for the U.K. and Ireland..

July 25, 2014 | 12:18 pm
 American Airlines to contribute additional $600 million to pension plans

American Airlines to contribute additional $600 million to pension plans

American Airlines Group Inc. expects to contribute an additional $600 million to its defined benefit plans in 2014, said the company's second-quarter earnings report filed Thursday.

July 24, 2014 | 04:08 pm
Pension smoothing gets 'The Daily Show' treatment

Pension smoothing gets 'The Daily Show' treatment

Jon Stewart, on his “The Daily Show” on Comedy Central, discussed pension smoothing and how it helps the federal government raise tax revenue, Mr. Stewart concluded this is the first time ...

July 23, 2014 | 09:54 am

Senate committee limits PBGC plant-closing authority

The Pension Benefit Guaranty Corp. would have to use a narrower definition of pension liability rules in cases of corporate shutdowns under legislation approved Wednesday by the Senate Health,...

July 23, 2014 | 04:18 pm
New actuary tables may be 'nail in the coffin' for DB plans

New actuary tables may be 'nail in the coffin' for DB plans

The measured value of liabilities for most defined benefit plans will increase between 3% and 8% with the adoption of new mortality tables, said a report from Wilshire Consulting.

July 23, 2014 | 10:17 am

Novartis treasurer to retire

Ken Schuster, vice president and treasurer of Novartis Corp., New York, will retire in September.

July 22, 2014 | 04:26 pm