Union pensions

Multiemployer plans can cut benefits to stay solvent

Multiemployer plans can cut benefits to stay solvent

Trustees of distressed multiemployer pension funds got new tools to avert insolvency in a package of reforms approved by Congress in mid-December, including the right to reduce benefits for active...

December 22, 2014
Congress did the right thing to protect multiemployer plans

Congress did the right thing to protect multiemployer plans

Congress made the right decision to allow severely financially distressed multiemployer pension plans to cut retiree benefits.

December 22, 2014
Senate follows House in passing bill allowing relief for multiemployer plans

Senate follows House in passing bill allowing relief for multiemployer plans

Struggling multiemployer pension funds will be able to reduce retiree benefits under legislation that received final Senate approval Saturday as part of a congressional spending package already...

December 15, 2014 | 10:29 am
House passes multiemployer pension reform

House passes multiemployer pension reform

The House approved late Thursday a package of reforms available to struggling multiemployer pension funds, as part of a congressional spending deal that the Senate must vote on by Saturday.

December 12, 2014 | 11:36 am
Proposed Congress spending bill allows some multiemployer plans to cut retiree benefits

Proposed Congress spending bill allows some multiemployer plans to cut retiree benefits

Controversial reforms for multiemployer pension funds will be part of a congressional spending deal set for a final vote Thursday.

December 10, 2014 | 12:09 pm
Immediate multiemployer reforms urged

Immediate multiemployer reforms urged

The increasing risk that some multiemployer pension funds will be insolvent is putting pressure on lawmakers to enact some sweeping reforms in the final days of the 113th Congress before their...

December 08, 2014

OPTrust names new president, CEO

Hugh O'Reilly on Thursday was named president and CEO of OPTrust, Toronto, effective Jan. 1.

December 04, 2014 | 03:56 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
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

Asset owners’ returns fall in 3rd quarter, 2 reports find

The median return of all plans in the Wilshire Trust Universe Comparison Service and BNY Mellon Trust Universe and was -0.84% and -0.83%, respectively, for the third quarter of 2014, the first...

November 10, 2014 | 04:29 pm

Supreme Court hears arguments on Omnicare securities case

he Supreme Court heard arguments Monday in a lawsuit challenging whether investors have a legal case if a securities registration statement contains opinions that could be considered misleading.

November 03, 2014 | 04:09 pm

InvestorForce universes drop 1.1% in third quarter

InvestorForce Plan Universes funds posted a median net return of -1.14% in the quarter ended Sept. 30. The median return gross of fees in the quarter was -1.03%.

October 30, 2014 | 02:20 pm

PBGC helps 2 New York multiemployer plans

The Pension Benefit Guaranty Corp. is offering financial assistance to two insolvent multiemployer pension plans in New York.

October 28, 2014 | 03:50 pm

Trump Entertainment can't stop funding union pension plan, judge says

Trump Entertainment Resorts, the bankrupt Atlantic City, N.J., casino owner, was denied court approval to immediately stop contributing to a union pension fund, a blow to its restructuring effort...

October 03, 2014 | 03:39 pm
Investors seek political contribution disclosure, end to exec tax payment at FedEx

Investors seek political contribution disclosure, end to exec tax payment at FedEx

FedEx Corp. shareholders face separate proxy proposals from the New York City Retirement Systems and the International Brotherhood of Teamsters General Fund, calling for, respectively, disclosure of...

September 19, 2014 | 12:00 pm