Pension funding

Illinois Senate sends Chicago pension reform bill to governor

Illinois Senate sends Chicago pension reform bill to governor

The Illinois Legislature approved Monday a bill to help shore up Chicago's municipal and laborer pension funds.

January 10, 2017 | 01:25 pm
NISA: Pension Surplus Risk index falls in December

NISA: Pension Surplus Risk index falls in December

NISA Investment Advisors’ Pension Surplus Risk index fell to 8.8% in December, down 0.5 percentage points from November’s reading.

January 09, 2017 | 01:57 pm
Social Security cuts likely by 2030, CBO report says

Social Security cuts likely by 2030, CBO report says

The Social Security program will run out of money in calendar year 2029 and will not be able to pay full benefits after that, the Congressional Budget Office says.

December 22, 2016 | 01:31 pm
CalPERS committee approves cutting rate of return to 7% over 3 years

CalPERS committee approves cutting rate of return to 7% over 3 years

A key CalPERS committee approved a plan Tuesday to reduce the pension fund's rate of return to 7% over a three-year period from the current 7.5%.

December 20, 2016 | 08:47 pm
Treasury approves first MPRA application for Iron Workers Local 17

Treasury approves first MPRA application for Iron Workers Local 17

Iron Workers Local 17 Pension Fund on Friday received permission from the Treasury Department to cut benefits for participants, including retirees, as part of a proposed rescue plan. It is the first...

December 16, 2016 | 06:38 pm
Texas appeals court upholds DROP reductions at Dallas Police & Fire plan

Texas appeals court upholds DROP reductions at Dallas Police & Fire plan

A Texas appeals court affirmed Tuesday that changes approved to the DROP interest rate and distribution policy at the Dallas Police & Fire Pension System in 2014 were constitutional.

December 14, 2016 | 03:44 pm
Kansas Public Employees lowers assumed rate of return to 7.75%

Kansas Public Employees lowers assumed rate of return to 7.75%

Kansas Public Employees Retirement System, Topeka, lowered its assumed rate of return to 7.75% from 8%.

December 13, 2016 | 01:46 pm
U.K. corporate pension funding deficit falls 29.4% in November

U.K. corporate pension funding deficit falls 29.4% in November

The total deficit of all corporate defined benefit funds covered by the London-based Pension Protection Fund’s 7800 index fell 29.4% in November, to £194.7 billion ($245 billion).

December 13, 2016 | 01:52 pm
President signs spending bill without mine workers pension relief

President signs spending bill without mine workers pension relief

President Barack Obama signed a streamlined spending bill Saturday that keeps the federal government operating until April 28, 2017.

December 12, 2016 | 11:55 am
Moody’s downgrades Dallas again on continued concerns about police and fire pension plan

Moody’s downgrades Dallas again on continued concerns about police and fire pension plan

Moody’s Investors Service downgraded Dallas' general obligation bond rating to A1 from Aa3 on Dec. 9, citing ongoing challenges at the $2.7 billion Dallas Police & Fire Pension System.

December 12, 2016 | 02:51 pm
Federal retirement benefit changes, carried interest taxes would reduce deficit — CBO report

Federal retirement benefit changes, carried interest taxes would reduce deficit — CBO report

Changing the benefit calculations for participants in the $443 billion Federal Employees Retirement System, Washington, and changes in the taxation of carried interest are two of 115 policy options...

December 09, 2016 | 04:23 pm
Connecticut governor, unions agree to modify pension funding calculation

Connecticut governor, unions agree to modify pension funding calculation

Connecticut Gov. Dannel P. Malloy and the State Employees Bargaining Agent Coalition have agreed to modify the funding calculation and amortization schedule for the $11 billion Connecticut State...

December 09, 2016 | 04:28 pm
Corporate funding ratios top 80% in November despite drop in assets — 2 reports

Corporate funding ratios top 80% in November despite drop in assets — 2 reports

The funded status of U.S. corporate pension plans rose in November on the back of rising discount rates.

December 08, 2016 | 03:05 pm
Chicago pension reform bills stall as state Legislature adjourns; lame-duck vote possible

Chicago pension reform bills stall as state Legislature adjourns; lame-duck vote possible

The Illinois House approved a bill to improve funding for Chicago's municipal and laborer pension plans.

December 05, 2016 | 03:33 pm
Rising discount rates give corporate pension plans biggest bump in 12 months — 2 reports

Rising discount rates give corporate pension plans biggest bump in 12 months — 2 reports

U.S. corporate pension plans' funded status rose about 3 percentage points in November, driven by falling liabilities, said reports from Wilshire Consulting and Legal & General Investment Management...

December 05, 2016 | 02:48 pm