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| Benefits & Administration |
| Failing Multiemployer Plans Face More Reduced Benefits |
| A Pension Benefit Guaranty Corporation (PBGC)
study finds that more than half of the people in terminated multiemployer plans
that run out of money in the near future face a reduction in benefits under
current PBGC guarantees. This compares to 20% of workers and retirees who saw
reduced benefits under plans that have already run out of money and are relying
on PBGC financial assistance. The study, PBGC’s Multiemployer Guarantee, also
looks at the depth of benefit reductions.Read more > |
| Objectives Met by DC Health Benefit Arrangements |
| Employers should understand whether a defined
contribution (DC) health benefit arrangement will help them achieve their
goals. In an article from Towers Watson, Randall K. Abbott, leader and senior
strategist, Health and Group Benefits, North America, contends four factors
have converged to bring the DC approach to the forefront: growth of the private
exchange model for the delivery of health benefits; employers’ ongoing concern
as health benefit costs continue to rise; the idea of de-risking health
benefits; and the 2018 excise tax on high-cost health plans. But, some
employers may be considering a defined contribution health benefit arrangement
for the wrong reasons.Read more > |
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| Products, Deals & People |
| To help plan sponsors with fiduciary duties and
day-to-day administrative tasks, BB&T Retirement and Institutional Services
has created 3(16) Alliance Services.Read more > |
| DuPont Capital Management hired William Smith,
Jr., as principal, business development, and Paul Leahy as head of relationship
management. Smith takes on responsibility for direct marketing and sales to
institutional retirement plans and consultants. Leahy will be focused on
developing and maintaining DuPont Capital’s relationships with institutional
clients and consultants.Read more > |
