US Archives - Page 38 of 175 - Pension Policy International

07DecDecember 7, 2023

Could the retirement pension be making a comeback?

Why news from IBM and talk of 'lifetime income' may lead to alternatives to traditional 401(k)s Remember the "three-legged stool?" That phrase was used for decades to describe Americans' chief sources of retirement income: Social Security, private pensions and personal savings. But in the 1990s and early 2000s, employers started freezing or eliminating defined-benefit pensions they funded and replacing them with 401(k) retirement plans requiring employee contributions. As a result, the stool got wobbly. Today, just 15% of private employers offer...

December 7, 2023

NewsDefined Benefit, Pension design, US

06DecDecember 6, 2023

U.S. corporate funding ratios rise in November – 3 reports

U.S. corporate pension funds saw funding ratios rise slightly in November, thanks to very strong market returns offsetting a significant rise in liability values, three new reports say. Wilshire Advisors estimated the aggregate funding ratio of U.S. corporate plans reached 105.4% as of Nov. 30, up from 105.1% a month earlier. The change was driven by a 7.8 percentage-point increase in asset values offsetting a 7.4 percentage-point increase in liability values. The two increases rounded to a funding hike of 0.3...

December 6, 2023

NewsFunding, Occupational Pensions, US

05DecDecember 5, 2023

US. Santos-inspired bill would ban pensions for expelled lawmakers

A House Republican on Monday introduced legislation barring lawmakers who are expelled from Congress from receiving congressional pensions. Why it matters: It's a direct response to the House's expulsion last week of then-Rep. George Santos, who was accused of plundering his congressional campaign coffers to personally enrich himself. Driving the news: Rep. Zach Nunn (R-Iowa) announced the Congressional Pension Accountability Act at a press conference on Monday morning. Nunn was among the more than 100 Republicans who voted to expel Santos following the release of...

December 5, 2023

NewsRegulation, State Pensions, US

04DecDecember 4, 2023

The Largest U.S. Pension Fund Just Rolled Out A Climate Transition Plan Focused On Risk And Opportunity

There are times when an established company, an investor, a startup makes a move that is so strategic—so in tune with the risks and the opportunities of the moment—that it marks the shift between the market’s past and its future. We recently witnessed that moment. In a bold step tailored to meet the existential challenges and colossal financial risks of a warming climate and harness the massive opportunities of the shift to a new clean economy, California Public Employees' Retirement System...

December 4, 2023

NewsClimate crisis, Investment, US

01DecDecember 1, 2023

2023 Prudent Pension Funding Report: A story of positive trends and persistent outliers

By Michael Hall In the wake of last year’s market turbulence, are most corporate pension plans still on a pathway to achieving full funding? Yes, according to our latest research. Our 2023 Prudent Pension Funding Report reveals most (97%) corporate pension plans can achieve full funding without a significant draw on corporate cash, based on the respective firms’ latest disclosures as well as market and interest rate movement so far in 2023. This finding increased from 86% in last year’s report. Despite...

December 1, 2023

Books, Books, Pension Management, ReportsFunding, Investment, Occupational Pensions, US

30NovNovember 30, 2023

US. Corporate Pensions are Looking to Make Changes to Liability-Driven Investment Allocations

A new study commissioned by Franklin Templeton and conducted by Coalition Greenwich reveals corporate pension plans are signaling changes to their liability-driven investment (LDI) approaches in the current interest rate environment. The first dedicated Corporate Defined Benefit (DB) LDI research in over five years marks a distinct inflection point in pension plan management strategy and LDI approaches of the top US Corporate DB plans. “We have seen a dramatic shift in the funding ratio over a short period of time...

November 30, 2023

NewsPension Management, US

30NovNovember 30, 2023

US. IRS announces retirement plan contribution limits for 2024

The Internal Revenue Service has announced the dollar limitations for retirement plans for the 2024 tax year. The 403(b) & 457(b) contribution limits have increased from $22,500 to $23,000 with an age 50 catch-up contribution of $7,500, which remains unchanged. Employees wanting to enroll into a Supplemental Retirement Account or make changes to an existing account should complete the electronic Salary Reduction Agreement. The deadline to submit SRA changes or new account enrollments to begin on the first pay in 2024 (Jan. 12) is 5 p.m....

November 30, 2023

NewsRegulation, savings, US

29NovNovember 29, 2023

97% of US Corporate Pensions Can Achieve Full Funding Without a Significant Draw on Corporate Cash: Report

Russell Investments has released its 2023 Prudent Pension Funding Report, which reveals most (97%) corporate pension plans can achieve full funding without a significant draw on corporate cash, based on the respective firms’ latest disclosures as well as market and interest rate movement so far in 2023. This finding increased from 86% in last year’s report. "Despite a challenging economic environment in 2023, pension plans continue on a positive trend for full funding," said Michael Hall, Managing Director, Americas Institutional at Russell Investments....

November 29, 2023

NewsOccupational Pensions, Pension Management, US

28NovNovember 28, 2023

IBM unveils details of retirement benefit account

International Business Machines has provided details to employees of the company's scrapping its 401(k) corporate match and replacing it with a cash balance component called a retirement benefit account, which is part of the IBM Personal Pension Plan, a defined benefit plan. The company confirmed earlier this month that the RBA would replace the 5% match for the 401(k) plan on Jan. 1, but didn't discuss details. The IBM Personal Pension Plan — closed to new participants since 2005 and frozen...

November 28, 2023

NewsDefined Benefit, Occupational Pensions, Pension Management, US

24NovNovember 24, 2023

ESG and Public Pension Investing in 2023: A Year-To-Date Recap and Analysis

By Joshua Lichtenstein, Michael Littenberg & Reagan Haas Since 2021, Ropes & Gray has been actively tracking the various approaches states have taken on how or whether environmental, social and governance (ESG) factors should be applied to the investment decisions for public retirement systems. States have used legislative, administrative and enforcement mechanisms to address this area, which has been complemented by Congressional Republicans’ various attempts to shine a spotlight on ESG in recent months. Judging by the significant uptick in...

November 24, 2023

Articles, Investment2023, ESG, Investment, Pension Management, US

December 2023

Could the retirement pension be making a comeback?

U.S. corporate funding ratios rise in November – 3 reports

US. Santos-inspired bill would ban pensions for expelled lawmakers

The Largest U.S. Pension Fund Just Rolled Out A Climate Transition Plan Focused On Risk And Opportunity

2023 Prudent Pension Funding Report: A story of positive trends and persistent outliers

November 2023

US. Corporate Pensions are Looking to Make Changes to Liability-Driven Investment Allocations

US. IRS announces retirement plan contribution limits for 2024

97% of US Corporate Pensions Can Achieve Full Funding Without a Significant Draw on Corporate Cash: Report

IBM unveils details of retirement benefit account

ESG and Public Pension Investing in 2023: A Year-To-Date Recap and Analysis