US Archives - Page 39 of 175 - Pension Policy International

22NovNovember 22, 2023

Average U.S. 401(k) balance down slightly in Q3 2023, up over long term: report

The average U.S. 401(k) balance decreased to $107,700 in the third quarter of 2023, down four per cent from Q2, but up by 11 per cent from a year ago, according to a new report by Fidelity Investments. Reflecting a combination of employee and employer 401(k) contributions, the total savings rate for the third quarter was 13.9 per cent, up slightly from a year ago. The average 403(b) account balance decreased to $97,200, down five per cent from last quarter,...

November 22, 2023

NewsAdequacy, savings, US

21NovNovember 21, 2023

US. State pension plans’ funded status improves

The median state pension plan funded status improved last year to 82.6% from 68.5%, according to data provided by Fitch Ratings. The rating agency's adjusted funded measure, which caps the assumed investment return at 6%, was 73.5% vs. 60.2% in 2021. States dropped their assumed rate of return in 2022, continuing a trend going back at least several years. Last year, the average fell to 6.88% compared with 7.6% in 2015. The number of states making at least 100% contributions compared...

November 21, 2023

NewsFunding, State Pensions, US

17NovNovember 17, 2023

The National Landscape of State Retirement Benefits

By Jonathan Moody & Anthony Randazzo Retirement security is ultimately about retirement income. Families and individuals want to know that during their retirement years they will have enough weekly, monthly, or annual income to live comfortably and meet their basic needs. Of course, many people aspire to more than just the basics. Ask even a handful of individuals about how they want to live in retirement, and you’ll hear a wide range of preferences. Expenses can vary from family-to-family, too,...

November 17, 2023

Books, Books, Reports, System Characterization2023, Income, Pension design, US

17NovNovember 17, 2023

US Pension Risk Transfer Market Expected to See $10 Billion In Q3 Deal Volume

Legal & General Retirement America (LGRA), a leading provider of pension risk solutions in the United States, today released the Q3 2023 edition of the US Pension Risk Transfer Monitor, which analyzes industry trends and market outlooks in the US. Following the largest first half on record for the US Pension Risk Transfer (PRT) market at $22.5 billion in deal volume, the Monitor reports an expected $10 billion in Q3 PRT market volume. While this is a decrease from last...

November 17, 2023

NewsPension Management, Risk, US

16NovNovember 16, 2023

U.S. public pension funding dips again in October – Milliman

The overall estimated funding ratio of the 100 largest U.S. public pension plans declined for the third month in a row in October, once again due to negative market performance, according to the Milliman 100 Public Pension Funding index. The estimated ratio fell to 71.4% as of Oct. 31 from 73.2% a month earlier, driven by an estimated aggregate investment return of -1.9% during the period, with an estimated range of -2.8% to -1.1%. With the third straight month of negative...

November 16, 2023

NewsFunding, Public Pensions, US

15NovNovember 15, 2023

US. Aon: Almost 80% of corporations expect to keep pension plans

Almost four-fifths (78%) of U.S. private-sector plan sponsors said their long-term objective is something other than pension plan termination, while the remaining 22% expect to terminate their pension plan, according to Aon's U.S. Global Pension Risk Survey, which was released Nov. 14. For plan sponsors that seek to maintain their pension plans over the long term, most intend to continue derisking the assets and/or shrink the liabilities through lump sums or partial annuity settlements. Read also U.S. public pension funding dips...

November 15, 2023

NewsOccupational Pensions, US

15NovNovember 15, 2023

US federal pension fund to exclude Hong Kong and China investments

The main US federal government pension fund is to exclude China- and Hong Kong-listed stocks on the recommendation of its adviser, which cited the rising tensions between the world’s two largest economies. The $771bn Federal Retirement Thrift Investment Board said on Wednesday that it would change the benchmark index followed by its international fund. The move will mean a shift away from an index that includes Hong Kong-listed equities. Washington has increasingly limited the range of Chinese companies available to US...

November 15, 2023

NewsInvestment, State Pensions, US

14NovNovember 14, 2023

US Corporate Pension Funding Status Keeps Climbing

The funding status of U.S. corporate pension plans increased in October, largely due to a reduction in liabilities stemming from an increase in discount rates, which were offset by negative investment returns. According to some trackers, pension funding status is at its highest point in decades. Funding Status Increases Fueled by High Interest Rates According to WTW’s pension finance tracker, U.S. corporate pension funding is at its highest level since mid-2001, with the funding ratio of WTW’s benchmark plan increasing 1.1...

November 14, 2023

NewsFunding, Occupational Pensions, US

13NovNovember 13, 2023

US. UAW goes all in on building Cadillac DC plans for members

The United Auto Workers' talks last month with Ford, General Motors and Stellantis concluded without the long-shot reopening of the "Cadillac" defined benefit plans that union executives had targeted. Instead, the union won enough concessions to make members' defined contribution plans a plausible alternative for securing a comfortable retirement. Analysts say the surprisingly strong deal the UAW secured in those talks from U.S. automakers for member 401(k) accounts could elevate the prominence of DC-related demands in future collective bargaining talks. The...

November 13, 2023

NewsLabor Market, Pension design, US

10NovNovember 10, 2023

U.S. Population Will Start Shrinking by 2100, Census Bureau Forecasts

The population of the U.S. will climb to about 370 million in 2080 before reversing course and starting to fall before the turn of the century, according to a new Census Bureau projection. By 2100, the U.S. will have a population of around 366 million people, unless immigration continues to climb each year, in which case the population could reach as high as 435 million, the bureau forecas U.S. House Votes to Censure Rep. Rashida Tlaib Over Israel Stance In the implausible...

November 10, 2023

NewsAging, Labor Market, US

November 2023