
Pensions
US Corporate Pension Funding Nudges Higher in FY 2020
Asset returns of 13.4% offset plunging discount rates to lift funded levels to 88.4%.
Under a new proposal, 6% in new contributions would be made by the country’s employers to sustain retired citizens above the poverty line.
The board at OPERS voted to reduce medical benefits to avoid collapse by 2030.
Level rises to 85.8% for corporate plan funding, Aon says.
Plan aims to eliminate the state retirement system’s $6.6 billion unfunded liability.
Bank wants enough onshore solar and wind energy to power an Oxford-sized area.