Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
March 1st, 2016
Benefits & Administration
More Union Plans Apply to Cut Benefits
According to the Pension Rights Center, the Iron Workers Local 17 Pension Fund, based in Ohio, was the second multiemployer plan to apply to the U.S. Treasury Department for permission to cut benefits under the Multiemployer Pension Reform Act of 2014 (MPRA). In addition, the Teamsters Local 469 Pension Plan, based in New Jersey, has filed an application to reduce benefits.Read more >
Cost-Sharing Increasing in Health Plan Designs
Nearly half (49%) of health benefit plan sponsors say they have increased employee cost-sharing, and 40% have increased premium contributions. Every year for the past 10 years, Healthcare Trends Institute says, employers have increased employee cost-sharing. The Institute’s study also suggests employers are looking into private exchanges.Read more >