Pensions
PBGC Approves Merger to Aid Struggling Multiemployer Plan
The settlement is intended to help protect 50,000 Giant, Safeway employees and retirees in the Washington, D.C., area.
Tag: Insolvency
Pensions
PBGC Multiemployer Program to Become Insolvent by 2026
Agency warns that without legislation, it won’t be able to provide financial assistance to 1,400 plans.
Research
Corporate Pension Plans’ Funded Status Dips for First Time Since April
A surge in liabilities from low discount rates dropped aggregate ratios 1.3 percentage points to 79.9%, Wilshire says.
Pensions
Goldman Sachs Estimates Public Pensions Now Less than 60% Funded on Average
Senior Pension Strategist Michael Moran says local government spending limits will stymie funding levels.
Risk
University of Texas Endowment Oil Money In Jeopardy
Top official of university organization that manages mineral rights for the endowment calls for Texas oil production cuts.
Risk
Ohio’s State Pension Slashes Healthcare Benefits amid Insolvency Concerns Threat
The board at OPERS voted to reduce medical benefits to avoid collapse by 2030.
Risk
Texas ERS Could Become Insolvent 20 Years Earlier than Previously Anticipated
An actuarial valuation report cites the plan’s risk of going insolvent by 2075.
PBGC Takes Over Bankrupt Verity Health System’s Pension Plans
Pension insurance to assume benefit payments for 8,000 members.
Risk
UK Pension Lifeboat to Protect Thomas Cook Pension
Plan participants will likely see reduced benefits after the 178-year-old travel firm collapse
Multiemployer Pension Lifeboat Sinking Fast
PBGC multiemployer program is expected to run out of money in six years.
CalSTRS Stresses the ‘Importance of Acting Quickly’ to Maintain Funding Progress
Update on the pension’s 2014 funding plan illustrates the risks, rewards, and strategies to be aware of.
Risk
New Jersey Posts Mixed Results in Meeting Benchmarks
The state pension fund is only surpassing its 10- and 20-year goals, falling short over other periods.
Insolvency Looms Larger for PBGC Multiemployer Program
Projections now show a 90% chance the program will run out of money in seven years.