Pension funding

Unions file lawsuit challenging constitutionality of Chicago pension reform law

Unions file lawsuit challenging constitutionality of Chicago pension reform law

Four labor unions, along with active and retired city workers, filed a lawsuit Tuesday that argues a Chicago pension reform law violates Illinois' constitutional clause that pension benefits should...

December 16, 2014 | 03:58 pm
TRW Automotive Holdings agrees to annuity buyout with MetLife for U.S. retirees

TRW Automotive Holdings agrees to annuity buyout with MetLife for U.S. retirees

TRW Automotive Holdings Inc., Livonia, Mich., purchased a group annuity contract from MetLife Inc. in a $440 million transaction to provide pension benefits to more than 7,000 TRW retirees and...

December 16, 2014 | 12:48 pm

U.K. pension funding shortfall balloons in November

The aggregate deficit of occupational pension funds in the U.K. Pension Protection Fund’s 7800 index increased 34% to £221.1 billion ($346.7 billion) in November.

December 09, 2014 | 12:14 pm

Milliman: Funded status inches lower for 100 largest corporate pension plans

The funded status of the 100 largest U.S. corporate defined benefit plans fell slightly in November as liabilities rose more than assets, the Milliman 100 Pension Funding index shows.

December 05, 2014 | 03:04 pm

Corporate pension funding relatively flat in November — 3 reports

The funded status of U.S. corporate defined benefit plans was relatively unchanged in November, said monthly reports from BNY Mellon Investment Management, Mercer and Wilshire Consulting.

December 03, 2014 | 01:32 pm
U.K. corporate DB funded status takes hit over past 12 months

U.K. corporate DB funded status takes hit over past 12 months

Deficits at U.K. corporate defined benefit plans increased 29.3% over the year ended Nov. 30, to £212 billion ($332.3 billion), as persistently low interest rates continued to increase...

December 01, 2014 | 01:26 pm
New GASB rules result in New Jersey's funded status plummeting to 44%

New GASB rules result in New Jersey's funded status plummeting to 44%

New Governmental Accounting Standards Board regulations have led to a big dip to an already-low funded status for the New Jersey Pension Fund.

November 26, 2014 | 03:59 pm
Judge rules Illinois pension reform law is unconstitutional

Judge rules Illinois pension reform law is unconstitutional

A Sangamon County Circuit Court judge ruled Friday that Illinois' pension reform law passed last year is unconstitutional.

November 21, 2014 | 02:55 pm

Moody’s finds decline in public pension liabilities in fiscal year 2013

State public pension funds saw a decline in liabilities in fiscal year 2013, thanks to favorable investment performance and higher contribution levels, said Moody’s Investors Service.

November 20, 2014 | 05:19 pm
PBGC multiemployer program deficit offsets single-employer improvement

PBGC multiemployer program deficit offsets single-employer improvement

Multiemployer pension funds caused a record deficit for the Pension Benefit Guaranty Corp., its annual report shows.

November 18, 2014 | 04:02 pm
State pension funds' combined underfunding rises to $4.7 trillion — report

State pension funds' combined underfunding rises to $4.7 trillion — report

State employee retirement systems are underfunded by a total of $4.7 trillion for a funding ratio of 36%, said a report from State Budget Solutions, a non-profit organization advocating state budget...

November 12, 2014 | 02:25 pm
Multiemployer plans in construction industry improving, but still struggling

Multiemployer plans in construction industry improving, but still struggling

Multiemployer defined benefit plans in the construction industry saw some improvement in funding levels in the past 10 years, but continue to struggle with shifting demographics, said a new report by ...

November 12, 2014 | 01:58 pm
Kentucky Teachers' Retirement sued for not addressing 'dire' funded status

Kentucky Teachers' Retirement sued for not addressing 'dire' funded status

A high school teacher in Louisville, Ky., filed a lawsuit against the Kentucky Teachers' Retirement System, charging the Frankfort-based system with failing to adequately address its...

November 11, 2014 | 02:47 pm

Milliman: Lower rates sink corporate funding ratios again

The funded status of the 100 largest U.S. corporate defined benefit plans fell to 84.8% in October, down 30 basis points from the previous month, said the Milliman 100 Pension Funding index.

November 11, 2014 | 03:15 pm

U.K. pension funding deficit jumps 14.3% in October

The aggregate deficit of occupational pension funds in the U.K. Pension Protection Fund’s 7800 index increased 14.3% to £164.9 billion ($261.3 billion) in October.

November 11, 2014 | 03:10 pm