Boeing Boosts Pension Fund by $3.5 Billion
Move is expected to eliminate mandatory pension funding through 2021.
Risk
Kentucky’s Sen. Schickel Praised for Sticking to ‘CERS Divorce Bill’
The senator also says passing SB 226 could help the state’s police fund.
GlobalData: UK Pension Reforms Drive Savings
New report predicts UK market’s APE to reach £17.5 billion by 2021.
Michigan Pension Bill Goes to Gov. Snyder
If Senate Bill 401 passes, hybrid plans would get a 7% contribution state and schools.
Chicago Public Schools Borrows $275 Million for Teachers’ Pension, Seeks Additional $112 Million
The district says the loan “creates sufficient cash” in order to fulfill pension obligations.
Michigan GOP Reaches Deal on Teacher Pensions
Teachers union says “back-room deal” would increase financial risk for new hires without improving funding.
IRS’ Delay in Implementing Mortality Tables Affects Pension Decisions
Move means plan contributions, PBGC premiums may rise.
New York City Pension Funds Divest from Private Prisons
Comptroller says alleged abuses and human rights violations made the investment both immoral and risky.
Fitch Revises Down Public Pension Discount Rate, Cites Slow Growth
On average, 1% drop in investment return assumption will bring about 11% increase in total pension liabilities.
Canadian Province Strikes Deal to Protect Paper Mill Pension
Company uses hydroelectricity plant assets to guarantee letter of credit.
Eight Largest Pension Systems Will Have $400 Trillion Gap by 2050
World Economic Forum warns of “imperiling the incomes of future generations.”
Sears Transfers Pension Liabilities to MetLife in “De-risking” Move
Beginning August 1, 51,000 participants will receive benefit payments from MetLife.
Chicago Public Schools to Borrow $389 Million to Fund Pension Plan
School district is required to pay pension fund $716 million by June 30.
Pennsylvania Pension Bill Could Save $18 Billon
Actuarial note estimates that the proposed legislation would reduce employer contributions through 2050.