Tag: Defined Benefit
As defined benefit plans shrink, supplemental plans are growing – but full participation may be hard to achieve without automatic enrollment.
Aggregate deficit falls $12 billion to $108 billion.
Although most plans are now fully funded, solvency gains can vanish quickly, firm says.
Company is planning $55 million contribution to its worldwide pension plans in fiscal 2019.
However, figure ‘masks the materially worse funding position likely to be reported.’
Union to vote on proposals in the coming weeks.
CEO says plan is ‘in discussions with several organizations and employee groups’ about joining the fund.
Move means the company will have no required contributions until 2021.
Report finds only 47% of consumers receive appropriate advice on defined benefit transfers.
The move is part of a long-term de-risking program at the company.