Pension funding

North Carolina lowers assumed rate of return by 5 basis points

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North Carolina Retirement Systems, Raleigh, is lowering its assumed rate of return to 7.2% from 7.25%.
Ohio Teachers cuts COLA to meet funding goal

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Ohio State Teachers’ Retirement System, Columbus, is reducing its annual cost-of-living adjustment to zero from 2% effective July 1, for up to five years, said Nick Treneff, spokesman.
U.K. seeks input on liability payment deferrals for multiemployer DB plans

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The U.K. government is seeking comment on a change to regulation that would allow employers within multiemployer defined benefit funds to defer paying up their share of the liabilities when they no...
Ohio carpenters multiemployer plan applies for benefit cuts

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The Southwest Ohio Regional Council of Carpenters Pension Plan, Austintown, applies to the Treasury Department for approval to reduce benefits in order to remain solvent.
3 more pension funds apply to reduce benefits under MPRA

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Three more multiemployer pension plans have applied for permission to reduce benefits to remain solvent, according to Treasury Department’s website list of applications under the Kline-Miller...
Puerto Rico pension participants sue to stop cuts

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Public sector employees and retirees in Puerto Rico filed suit Wednesday to prevent the governor and oversight board from implementing a fiscal plan that calls for 10% reductions in benefits paid by...
Tesco sees U.K. pension deficit soar 111% in past year

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Tesco PLC, Cheshunt, England, recorded a 111.5% increase in the deficit of its U.K. defined benefit fund for the year ended Feb. 25 to £5.5 billion ($6.9 billion).
U.K. corporate pension deficits improve in March

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A fall in liabilities and a rise in assets improved the aggregate U.K. defined benefit fund deficit by 6.4% in March, lowering it to £226.5 billion ($282.1 billion), the Pension Protection Fund's...
Corporate pension funding inches up in March — 2 reports

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The funded status of U.S. corporate pension plans rose slightly in March on the back of rising discount rates, two reports show.
Canadian pension plans end first quarter near full funding — 2 reports

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Two reports on Canadian defined benefit plan funding showed strong results at the end of the first quarter, with one saying median funded status reached its highest point since 2007 and the other...
U.S. corporate pension funding rises to 84% at end of first quarter — 2 reports

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The aggregate funded status of the largest U.S. corporate pension plans rose in the first quarter to about 84%, said reports from Wilshire Consulting and Legal & General Investment Management America.
Revised mortality tables spur 36% drop in U.K. pension deficit in March — analysis

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The total deficit of U.K. corporate pension funds fell 36.3% to £172 billion ($214.2 billion) over March, mainly due to changes in U.K. mortality tables, shows an analysis by JLT Employee...
FTSE 250 companies face daunting pension burden, analysis shows

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Almost 10% of FTSE 250 firms would require more than two years’ dividend payments by their parent companies to settle defined benefit fund deficits, warns JLT Employee Benefits.
Canadian pension fund discount rates dip in 2016

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Discount rates among Canadian corporate pensions in the S&P/TSX index with liabilities over C$1 billion declined in 2016 after a brief uptick in 2015.
Illinois governor vetoes bill to help improve funding ratio for 2 Chicago pension plans

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Illinois Gov. Bruce Rauner vetoes a bill to help shore up Chicago's municipal and laborer pension funds.