US Corporate Pension Funding Ratio Rises to 87.1% in 2018
Funded levels increase despite worst asset performance in a decade.
Tag: PBGC
Corporate Moves
PBGC Director Nominee Approved by Senate Committee
Hartogensis renominated by Trump after previous attempt stalled.
Newsmakers
PBGC, Sears Reach Chapter 11 Bankruptcy Settlement
Deal cleared way for court to OK ESL Investment’s $5.2 billion takeover of the retailer.
Newsmakers
PBGC to Assume Responsibility for Sears, Kmart Pension Benefits
Pensions lifeboat will provide benefits for 90,000 workers and retirees.
Bill Proposes Creation of Pension Rehabilitation Administration
Proposed legislation aims to save critical and declining multiemployer pension plans.
Newsmakers
PBGC Director Nominee Gets Kicked Back to Trump
Clock runs out on controversial nod for brother-in-law of Mitch McConnell, Elaine Chao.
Congress Mulls Multiemployer Pension Bailout
Draft of plan calls for $3 billion a year to subsidize payments for retirees.
Newsmakers
PBGC to Cover ‘Vast Majority’ of Sears Pension Benefits
Pensions lifeboat says it’s prepared to provide for 90,000 retirees and workers.
Portland Pension Fund Applies for Benefits Reduction
Western States Office and Professional Pension is seeking a 30% cut in benefits.
Insolvency Looms Larger for PBGC Multiemployer Program
Projections now show a 90% chance the program will run out of money in seven years.
Failed Plan Members May Receive Only Fraction of PBGC Minimum
PBGC says it would only be able to pay less than one-eighth the minimum benefit.
PBGC Pays Out $5.6 Billion to Retirees of Failed Plans in 2017
Total amount paid remains the same as the number of retirees rises.
Risk
Sears to Contribute $407 Million to Pension Plans
Retailer will use proceeds from two loans to provide funding.
Funded Status for Pensions Rises in November
Reports from Northern Trust, Mercer show continued improvement.
In-Depth: What to Expect from 2018 PBGC Premiums, Mortality Rates
LDI, pension risk transfers “likely” to increase as new tables, premiums take hold, experts say.