Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
February 24th, 2016
Benefits & Administration
Fortune 500 Retirement Offerings Have Shifted
The last two decades have witnessed a sweeping shift in retirement offerings from large employers, most of whom now provide only defined contribution (DC) and other account-based plans to new salaried hires, according to an analysis from Willis Towers Watson. From 1998 to 2015, the percentage of Fortune 500 companies still offering a traditional, final salary defined benefit (DB) plan to most newly hired employees fell from roughly half (246 companies) to 5% (25 companies). The analysis also looks at the paths companies took to shift from DB to DC.Read more >
Chemtura Signs Pension Risk Transfer Deal with Voya
Voya Retirement Insurance and Annuity Company has entered an agreement to provide pension payments to approximately 5,000 retirees and beneficiaries currently covered under the Chemtura Corporation Retirement Plan. Beginning on May 1, Voya will start making the pension payments to retirees and beneficiaries of the plan.Read more >