The legislation would strengthen consumer protections, improve access to retirement savings plans for part-time workers, help increase women’s financial literacy, and give specific support to low-income women and survivors of domestic abuse.
Tag: Defined Benefit
Cost reductions are evident across asset classes—not just in equity.
“There is a lot of value in having conversations about retirement income that are not just product driven,” said Josh Cohen, head of institutional defined contribution for PGIM.
A plan participant relied on language in the SPD regarding eligibility for benefits, and the appellate court found the SPD inaccurately portrayed provisions of the plan document.
The IRS and the Treasury Department have extended nondiscrimination relief for closed defined benefit plans for an additional year.
Despite something of a tepid second quarter, pension plans have enjoyed a strong year of growth.
One reason DC plans are outpacing DB plans in terms of ESG adoption has to do with a difference in pressing priorities, rather than doubts among DB plans of the viability or usefulness of ESG.
In creating a unified sales and service structure for DC, DB, multiemployer and association retirement plans, the firm wants to provide a more consistent experience for both advisers and plan sponsor clients regardless of market size, location or organizational structure.
Commenting on the decision, Segal Consulting says it is “consistent with every other decision handed down in similar cases except for one,” the Southern District of New York Court’s decision in The New York Times Company v. Newspaper and Mail Deliverers’-Publishers’ Pension Fund, which is being appealed.
Experts with cash balance plan design and administration provider Kravitz define the concept of strategic plan termination—what the pros and cons are, and what an employer’s responsibilities entail under IRS and PBGC regulations.
Equity prices have strongly recovered since the Great Recession, bringing some benefit to corporate pension funded status, but pension plan sponsors have still faced periods of unprecedented volatility, a prolonged slowdown in global growth, and historically low interest rates.
The employer sought to carve out new hires from a critical-status multiemployer pension fund and instead direct their contributions into a 401(k) plan—but both a district court and appellate court have called foul.
Alexi Maravel, director of Cerulli’s institutional practice, observes that the LDI topic is “probably the most competitive pricing environment among the different types of institutional custom solutions available today.”
Evidence mounts to show how cuts to public-employee pension benefits have reduced the ability of public-sector employers to compete with private-sector employers for skilled workers.
Ryan Labs president Richard Familetti reflects on the increasingly prominent role of investment consultants in helping to shape LDI strategies and other pension plan behaviors.
A federal district court has ruled a multiemployer pension fund's use of the "Segal Blend" rate when assessing a member's withdrawal liability was, in this instance, improper.
Strong asset returns and an increase in voluntary contribution activity drove DB plan funded levels significantly higher over the last year; on the other side of the ledger, however, lower discount rates offset some of the gains.
Since the last study of this kind by CEM Benchmarking, average DB fund costs have increased from 0.40% to 0.60%, whereas DC plan costs have remained constant at 0.39%; overall, DB plans outperformed DC plans in the last decade by only 0.46%.