Corporate pensions

Supreme Court declines to hear ABB-Tussey investment mapping case

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The U.S. Supreme Court announced it declined to hear a long-running ERISA case involving ABB Inc. and participants in two ABB 401(k) plans.
International Paper buys group annuity covering $1.3 billion in pension liabilities

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International Paper Co. purchased a group annuity contract from Prudential to transfer about $1.3 billion in U.S. pension plan liabilities.
Pension funding for Russell 3000 companies rises 2.1 points in Q3 — report

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The average funded status of corporate pension plans sponsored by Russell 3000 firms rose an estimated 2.1 percentage points in Q3 to 85.4%.
U.K. corporate pension funding deficit improves by 12.6% in September — report

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The total deficit of U.K. corporate defined benefit funds fell 12.6% to £174 billion ($233 billion) in September.
Corporate pension plans ramping up focus on reducing liabilities through risk transfers

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More U.S. corporations with pension plans are concentrating on managing the benefits and liabilities of their plans.

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Coveris Flexibles U.S. hired Aon Hewitt as outsourced CIO for its defined benefit plan and investment consultant for its 401(k) plan.

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Paul Osborne was named director, U.K. institutional clients at Unigestion.
PPF sets levy at 550 million for fiscal year 2019

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Pension Protection Fund has set its levy estimate at 550 million for fiscal year 2019, about 10% lower than the current fiscal year.
Westinghouse DB plan short $937 million if terminated, PBGC says

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Westinghouse Electric Co. LLC could wind up having to put $937.4 million into its defined benefit plan.
Better funded plans hold more cash

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Firms with higher funding ratios are likely to have more cash on their balance sheets.
Northrop Grumman acquisition of Orbital ATK would combine $50.4 billion in retirement assets

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Northrop Grumman Corp. announced it plans to acquire Orbital ATK Inc., creating a company with $50.4 billion in retirement plan assets
Kroger to begin Central States withdrawal

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Kroger Co. will withdraw active participants from the $15.3 billion Teamsters Central States, Southeast & Southwest Areas Pension Fund.
Altria offering certain former employees lump sum or early annuity

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Altria Group is offering about 8,200 former employees in its U.S. pension plan the chance to take a lump sum or early annuity payments.
Pooling liabilities could help corporate plans, execs told

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Canadian private pension plans can learn from their public plan counterparts, conference participants told
MMC U.K. implements insurance hedge on some pension liabilities

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MMC U.K. Pension Fund insured £3.4 billion of liabilities.