| | Benefits & Administration | | Largest DB Plans Lead in Accelerating Pension Funding | | Following a pattern as trendsetters, the 20 members of the $20 billion club collectively dismissed funding relief and paid more than triple their mandated contributions in 2017, according to Russell Investments. For the first time since 2013 (when rates rose and equity markets cooperated), funded status meaningfully improved. This was despite discount rates (grouped into “actuarial losses”) falling. In fact, for the first time since 2009, actuarial gains/losses were not the leading driver in funded status changes; net asset returns (asset returns in excess of interest cost) were. According to Justin Owens, CFA, FSA, EA, director, client strategy and research at Russell, while total 2017 contributions were the single largest ever recorded, just as noteworthy was the contribution above requirements.Read more > | | How to Be a Best Performer in Health Care Practices Employer | | From the 2017 Willis Towers Watson Financial Benchmark Survey and the Willis Towers Watson 22nd annual Best Practices in Health Care Employer Survey, Willis Towers Watson defines best performers based on their abilities to manage cost trends and efficiency. According to the firm, a company of 10,000 employees could realize savings of more than $22 million annually by implementing a broad set of effective strategies and practices. It’s group of best-performing companies has achieved a $2,251 per employee per year (PEPY) health care cost advantage over the national average in 2017 ($9,950 compared with $12,201). So how do companies get to be best performers?Read more > |
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