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Asset losses for defined-benefit pension plans hit $54 billion in February
Defined-benefit pension plans lost $54 billion in assets in February, according to a new report from Milliman Inc., a consulting and actuarial firm. The losses, however, were offset by liability...
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IRS offers COLA adjustments for pension plans for 2010
The Internal Revenue Service announced cost-of-living adjustments for pension plans for the 2010 tax year, although the limitation on annual benefits for defined benefit and defined contributions...
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Low-income workers got defined-benefit plan freezes more often
Workers earning less money were twice as likely last year to have their defined-benefit (DB) plans frozen than workers in the top income brackets, a new government report indicates. Within private...
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Defined benefit plans make small businesses ‘financially secure’
Defined benefit (DB) plans for small businesses reduce taxes and help make policyholders financially secure, a new study shows. Exactly 96% of survey participants agreed that their DB plan is a top...
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Pacific Life expands with JPMorgan Chase’s pension advisory unit buy
Pacific Life Insurance Co. acquired JPMorgan Chase’s U.S. Pension Advisory Group, which it will rename Pacific Global Advisors. Through the purchase, Pacific Life seeks to expand the footprint of its...
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Actuaries call 80% rule on defined-benefit pension plans ‘myth’
The commonly accepted practice of considering a pension plan healthy using its funded ratio is not comprehensive enough, on its own, to determine the plan’s financial health, an actuarial organization...
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