DEFINED BENEFIT
COVID-19 has increased pressures on already stressed underfunded public plans.
The NISA pension surplus risk index fell in January to 5.7% from December's 5.9%, while plan funded status slid to 89.7% from 91.4%.
The total deficit of U.K. defined benefit funds covered by the Pension Protection Fund's 7800 index decreased to $183 billion in September.
ConocoPhillips expects to contribute $380 million to its pension plans in 2019.
La-Z-Boy Inc. plans to terminate its defined benefit plan for factory hourly employees.
P&I's most recent survey finds slightly better news on the gap between public teacher contributions and benefit payments.
Western States Office and Professional Employees Pension Fund received final approval to cut benefits as of Oct. 1 as part of a rescue plan.
Better investment returns and funding improvements didn't make much of a dent in funding ratios of public pension plans.
Corporations are allocating more capital to pension plans not only to improve funded status but also to reduce pension expense.
U.S. corporations need to think long-term about how to manage their portfolios if they anticipate a pension risk transfer transaction.
