RSS icon

Top Stories

Defined Benefit Plans

Fewer Employers Offering Defined Benefit Pension Plans to New Salaried Employees

October 3, 2012
Comments (0)
Just 11 Fortune 100 companies offered a traditional defined benefit plan to new salaried employees as of June 30, down from 14 in 2011, 17 in 2010 and 19 in 2009.
Read More

NFL to Freeze Referees' Pension Plan Under Labor Agreement

September 27, 2012
Comments (0)
Retirement benefits will be provided through a defined contribution plan to new referees immediately and for all officials beginning in 2017.
Read More

Boeing Proposes Ending Defined Benefit Plan for New Employees

September 11, 2012
Comments (0)
Boeing's proposal would amount to a 40 percent reduction in benefits from current levels. The union's contract with Boeing expires Oct. 6.
Read More

Pension Plan Funding Levels Up Slightly in August: Study

September 10, 2012
Comments (0)
Defined benefit plans offered by the 100 U.S. employers with the largest pension programs were an average of 72.4 percent funded as of Aug. 31, up from 70.9 percent as of July 31, but sharply lower compared with the 78.7 percent funded ratio at the end of 2011.
Read More

National 401(k) Day Brings Retirement Planning Problems to Light

September 7, 2012
Comments (0)
This year's Sept. 7 kickoff date for National 401(k) Day "is a great trigger event for plan sponsors to have the conversation of how to get the most out of your 401(k)," says Chris Augelli, vice president of sales operations at ADP Retirement Services. "But it's not a one-time event. It should be an ongoing dialogue."
Read More

Bill Seeks Government Sale of GM Stock to Fund Delphi Pension Benefits

September 6, 2012
Comments (0)
The legislation, which will be introduced next week when the Senate reconvenes, is intended to cover all benefits lost to hourly and salaried retirees when the Pension Benefit Guaranty Corp. took over the Delphi's six defined benefit plans in 2009. The plans were terminated as part of Delphi's Chapter 11 bankruptcy reorganization.
Read More

Employee Retirement Statements Get a Fee Makeover

August 22, 2012
Comments (0)
Participants in defined contribution plans should receive the first of two fee-disclosure notices by Aug. 30. This notice should include a listing of all the investments available in the plan as well as the options' fees and historical performance.
Read More

Former Wells Fargo Employee Says Company Fired Him Over Daughter's Cancer Costs

August 15, 2012
Comments (0)
According to a lawsuit filed Aug. 2 in a Florida 15th Judicial Circuit Court in Palm Beach, Wells Fargo fired Yovany Gonzalez in August 2010—three days before his daughter Mackenzie was scheduled for surgery to remove a cancerous tumor—based on allegations that he had falsified his time records.
Read More

Law Will Cut Defined Benefit Pension Contributions, but Increase PBGC Premiums

July 11, 2012
Comments (0)
Employers will continue to value plan liabilities based on interest rates on top-rated corporate bonds for three different segments, averaged over 24 months. Segments refer to when benefits are paid to participants.
Read More