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Defined Benefit Plans

Clients Kind of Blue Over IBM's 401(k) Surprise

December 11, 2012
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Starting next year, Big Blue's match will be contributed as a lump sum on Dec. 31.
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American Pilots Accept Contract With Pension Freeze Provision

December 7, 2012
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The pilots' approval clears the way for parent company AMR Corp., Fort Worth, Texas, to continue its Chapter 11 bankruptcy proceedings. The pension proposal is contingent on the resolution of the bankruptcy proceedings.
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Pension Envy for Employees Not On the Government's Dime

December 7, 2012
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A recent analysis by Hearts & Wallets of individuals who are near or in retirement showed that those with a public pension are happier in retirement and have higher income than those who don't have a defined-benefit plan.
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Hostess Brands to Terminate Pension Plan as Part of Liquidation

November 19, 2012
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Hostess suspended payments to the 42 multiemployer pension plans to which it contributes in August 2011. The company's IBC Defined Benefit Plan had about $56 million in assets and $111 million in liabilities as of April 30, according to the PBGC.
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States Up the Pressure on Retirement Plans for Private Workers

November 8, 2012
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California's new state-administered retirement savings program for certain private-sector workers could serve as a model for other states.
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American Airlines Freezes Its Pension Plans

November 2, 2012
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In January, American said it would seek bankruptcy court approval to terminate the plans, which have about 130,000 participants.
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401(k) Plan Contribution, Other Retirement Plan Limits Upped for 2013

October 18, 2012
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The maximum contribution that can be made to 401(k) plans will increase next year, as will the maximum benefit that can be funded through defined benefit plans, the Internal Revenue Service announced Oct. 18.
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From Pension to Payout: Employers Are Liking Lump Sums

October 16, 2012
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When defined benefit plan participants take a lump sum, they move out of the plan. That means plan sponsors that cash out participants have a smaller plan with tighter variables—including contribution rates.
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David Wray Interview: Ready for Retirement

October 11, 2012
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As part of our 90th anniversary, Workforce is talking to some of the people and organizations that helped influence today's workplace. In this installment, writer Patty Kujawa speaks with David Wray, the retired president of the Plan Sponsor Council of America, on his thoughts about the evolution of defined contribution plans.
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