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Defined Benefit Plans

Fidelity-ABB Ruling First in What Could Be String of Excessive-Plan-Fee Cases

April 19, 2012
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The case is significant because new federal rules that go into effect this summer will require 401(k) plan service providers—such as record keepers and investment managers—to report detailed fee information to plan sponsors.
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Retirement Savings Tax Breaks Safe—for Now

April 17, 2012
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At a House hearing, neither Dems nor Republicans seemed eager to tinker with main selling point of 401(k)s and IRAs.
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PBGC Director Gotbaum Discusses New Retirement Plan Options

April 5, 2012
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'What we need to do is provide options so that, case by case—employer and employee—they have choices. … And I think that, actually, is an important part of the future,' Joshua Gotbaum told the National Press Club on April 3.
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Pension Plan Funding Levels Hit Record Low in 2011: Milliman

March 29, 2012
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The market value of pension plan assets increased by about $37 billion to about $1.246 trillion in 2011. But the value of plan liabilities leaped by about $133 billion to about $1.573 trillion.
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U.S. Senate Passes Pension Funding Relief in Highway Bill

March 16, 2012
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The U.S. Senate on March 14 approved allowing corporate defined benefit pension plans to base their contribution calculations on interest rates over a 25-year average rather than current interest rates, which have sent contribution payments soaring.
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Dreams of Comfortable Retirement Ebb Among Americans: EBRI

March 13, 2012
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Thirty percent of those surveyed have virtually no savings or investments, and 60 percent reported less than $25,000 in savings, excluding the value of their home or any defined benefit plans.
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Fortune 1000 Firms' Pension Plan Funding Falls to 78% in 2011

March 6, 2012
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The aggregate funding level of 422 pension plans offered by Fortune 1000 companies fell to 78 percent in 2011, down from 84 percent in 2010 and 81 percent in 2009, according to Towers Watson & Co. analysis.
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Northeastern Companies Reap Benefits of Healthy Habits

March 6, 2012
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Six winners of the New England Employee Benefits Council's Best Practice awards for 2011 include Ocean Spray's Moms at Work program and Staples' use of computer games to entice the office supply company's younger workers to save for retirement.
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Changes Necessary in Company Pension Plans

March 2, 2012
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In the January/February 1936 edition of The Personnel Journal, C.P. Cochrane from the Eastman Kodak Co. wrote about pension plans. He concluded that in spite of all the difficulties, private annuity plans should be continued where it is at all possible. Read the rest of Cochrane's article here.
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GM Pension Plan Underfunding Rises in 2011

February 28, 2012
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To reduce liability growth, GM will completely freeze defined benefit plans covering salaried employees, effective Oct. 1, completing a process it began several years ago.
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