Defined Benefit Archives - Page 8 of 11 - Pension Policy International

28JulJuly 28, 2022

Wait Your Turn: Pension Incentives, Workplace Rules and Labor Supply Among Philadelphia Municipal Workers

By David McCarthy & Po Lin Wang Little academic work has examined the labor supply response to pension incentives at the intensive margin. We explore this issue using individual-level administrative and pension data for Philadelphia city employees, where workers have some choice about whether or not to perform overtime, which is pensionable. We document large variation across workers in the incentives to do overtime provided by pension rules. Although standard regressions show that worker overtime is positively associated with own...

July 28, 2022

Articles, Labor Market, Pension design2022, Defined Benefit, Public Pensions, State Pensions, US

22JulJuly 22, 2022

Defined Benefit Risk Phase 2: Expert Interviews

By David G. Pitts Over the course of 2020 and 2021, the research team interviewed the following subjects: • Chief Financial Officer • Chief Risk Officer • Multiemployer Plan FSA • Public Plan FSA • Investment Consultant / FSA • Outsourced Chief Investment Officer / FSA • Canadian FSA / CERA Each interview lasted approximately one hour. All interviewees are senior practitioners in the defined benefit space. The interview notes include a faithful representation of the ideas discussed, with some changes in minor details to ensure the anonymity of the respondent. Executive...

July 22, 2022

Books, Pension Management2022, Ajuste, Corporate Governance, Defined Benefit, Investment, Risk

05JulJuly 5, 2022

Canadian defined benefit pension plans’ financial health steady in Q2 2022: Aon

Aon plc (NYSE: AON), a leading global professional services firm, announced today that the aggregate funded ratio for Canadian pension plans in the S&P/TSX Composite Index increased from 100.5 to 101.5 percent during the past three months, according to the Aon Pension Risk Tracker. It was at 96.9 percent at the beginning of the year. The Aon Pension Risk Tracker calculates the aggregate funded position on an accounting basis for companies in the S&P/TSX Composite Index with defined benefit (DB)...

July 5, 2022

News2022, Canada, Defined Benefit

04JulJuly 4, 2022

UK. DB pension surplus reached record high in June

The aggregate defined benefit (DB) pension scheme surplus in the UK increased by £60bn to £250bn in June, according to the PwC Pension Trustee Funding Index, marking the highest surplus recorded since the launch of the index in 2015. The index showed that whilst asset values fell over the month amid market volatility, this was more than offset by a larger fall in liabilities, as long-term bond yields continued to rise. Liabilities fell by £110bn to £1,340bn, while asset values declined...

July 4, 2022

News2022, Defined Benefit, Funding, UK

09JunJune 9, 2022

Factors Influencing the Choice of Pension Distribution at Retirement

By Robert L. Clark & Olivia S. Mitchell One of the most important financial decisions that pension participants make concerns how they access their pension assets when they terminate employment with their plan sponsor. Their choices depend both on own preferences and the options offered by their retirement plan. This paper examines both past and future pension withdrawal choices for those with defined benefit and defined contribution pensions, separately. Our data are drawn from a set of pension distribution questions...

June 9, 2022

Articles, Pension design2022, Defined Benefit, Defined Contribution, Income, Payout, US

28AprApril 28, 2022

Puerto Rico teachers fail to overturn pension changes in debt plan

A federal appeals court has upheld modifications to teachers’ pensions under Puerto Rico’s debt adjustment plan, despite arguments from teachers’ associations that the changes violate the U.S. territory's law. The 1st U.S. Circuit Court of Appeals on Tuesday said that the federal law that authorized the commonwealth’s debt restructuring allowed a federally appointed oversight board to modify the pension obligations. The changes were part of the board’s wide-ranging restructuring for Puerto Rico, which was approved by a lower court in...

April 28, 2022

NewsDefined Benefit, Puerto Rico

03DecDecember 3, 2021

U.S. corporate plans’ funded status slips in November

Funding ratios for U.S. corporate pension plans decreased in November, according to reports from Legal & General Investment Management America, Insight Investment and Northern Trust Asset Management. Read also US. SEC guidance opens the door for more ESG proxy proposal LGIMA's monthly pension solutions monitor showed that the funding ratio of a typical corporate pension plan decreased by roughly 1.6 percentage points to 90.1% in November, primarily because of poor equity performance and lower Treasury yields. Read also US. Most Kentucky pension...

December 3, 2021

News, Slider2021, Defined Benefit, Funding, Occupational Pensions, US

20SepSeptember 20, 2021

The Golden Paper to Fix Pension Systems in MENA Region

By Ebrahim K Ebrahim All Arab countries, except for three, have deficits in their pension funds exceeding 50%. As for the three countries, two of them started their social insurance relatively late and the third one had to significantly recapitalize its fund early last decade. Likewise, these three countries are not immune from deficits of similar proportions during the next two decades if they end up doing the same thing. Up until now, there is one thing all Arab countries...

September 20, 2021

Articles, Pension design2021, Defined Benefit, Defined Contribution, MENA, savings

18FebFebruary 18, 2021

US Corporate Pension Funded Ratio Climbs to 89.8% in January

The funded ratio of the 100 largest corporate defined benefit (DB) pension plans improved to 89.8% at the end of January from 88.1% at the end of December as their aggregate deficit fell below $200 billion for the first time in more than a year, according to consulting firm Milliman. With the help of a 16 basis point (bp) increase in the monthly discount rate to 2.62% from 2.46%, the plans’ funding improved by $39 billion in January as their...

February 18, 2021

News, Slider2021, COVID-19, Defined Benefit, Funding, Occupational Pensions, US

13JanJanuary 13, 2021

U.K. corporate funds finish 2020 with increased deficits

The total deficit of U.K. defined benefit funds covered by the Pension Protection Fund's 7800 index increased 9.6% in December, to £86.4 billion ($117.3 billion). The deficit was £78.8 billion at the end of November. Deficits also worsened for the year ended Dec. 31, from £10.9 billion, said an update Tuesday by the London-based PPF. The PPF is the lifeboat fund for the defined benefit plans of insolvent U.K. companies. The funding ratio of the corporate pension plans worsened...

January 13, 2021

News, Slider2021, COVID-19, Defined Benefit, Funding, Sustainability, UK

July 2022

Wait Your Turn: Pension Incentives, Workplace Rules and Labor Supply Among Philadelphia Municipal Workers

Defined Benefit Risk Phase 2: Expert Interviews

Canadian defined benefit pension plans’ financial health steady in Q2 2022: Aon

UK. DB pension surplus reached record high in June

June 2022

Factors Influencing the Choice of Pension Distribution at Retirement

April 2022

Puerto Rico teachers fail to overturn pension changes in debt plan

December 2021

U.S. corporate plans’ funded status slips in November

September 2021

The Golden Paper to Fix Pension Systems in MENA Region

February 2021

US Corporate Pension Funded Ratio Climbs to 89.8% in January

January 2021

U.K. corporate funds finish 2020 with increased deficits