US Archives - Page 79 of 200 - Pension Policy International

12MayMay 12, 2023

Retirement Plan Reforms in the Absence of a Retirement Policy

By Natalya Shnitser The US retirement system is currently characterized by tremendous diversity of instruments, institutions, and intermediaries in pursuit of the same goal. While the goal – achieving financial security in retirement – is widely accepted by policymakers and participants, for individuals in the United States, the nature of the “investment” experience in the retirement context varies considerably based on the identity, savviness, and size of the intermediaries, as well as the particular legal regime to which such intermediaries...

May 12, 2023

Articles, Pension design2023, Pension Reform, US, Voluntary Savings

12MayMay 12, 2023

“The Great Retirement Boom”: The Pandemic-Era Surge in Retirements and Implications for Future Labor Force Participation

By Joshua Montes, Christopher L. Smith & Juliana Dajon As of October 2022, the retired share of the U.S. population was nearly 1-½ percentage points above its pre-pandemic level (after adjusting for updated population controls to the Current Population Survey), accounting for nearly all of the shortfall in the labor force participation rate. In this paper, we analyze the pandemic-era rise in retirements using a model that accounts for pre-pandemic trends in retirement, the cyclicality of retirement, and other factors....

May 12, 2023

Articles, Labor Market2023, COVID 19, Retirement Age, Social Security, US

11MayMay 11, 2023

US. Senate passes bill banning state’s pension, investment funds from ESG considerations

The Ohio Senate sent to the House on Wednesday a bill that would prohibit managers of the state’s five pension systems and other investment funds from choosing investments based on their social, environmental and corporate governance goals. ESG principles consider companies’ and funds’ policies affecting the environment and climate. Social goals include how a company treats its employees, suppliers and customers. Governance policies require an examination of corporate leadership, executive pay, shareholder rights and internal controls. Recently, Republicans across the country...

May 11, 2023

NewsESG, Pension Management, US

10MayMay 10, 2023

US. New York State Common reaches deal with 4 companies to cut emissions

New York State Common Retirement Fund, Albany, reached agreements with four U.S. companies to compel them to set targets to reduce their greenhouse gas emissions and regularly report on their progress, said New York state Comptroller Thomas P. DiNapoli, sole trustee of the $242.3 billion pension fund, in a news release Tuesday. As a result of these agreements, the pension fund has withdrawn its shareholder resolutions with the companies. The four companies are Carrier Global Corp., a heating, ventilation and air...

May 10, 2023

NewsClimate crisis, Pension Management, US

09MayMay 9, 2023

US. Corporate contributions could be a thing of the past

U.S. corporations are continuing to lower their expected contributions to their pension plans in 2023 as more and more plans reach full funded status. The companies behind the 100 largest corporate pension funds plan to contribute a total of up to $12.5 billion in 2023, according to Pensions & Investments' analysis, compared to $16.2 billion contributed in 2022. The data reflect the companies' expected contributions disclosed in their 10-K filings with the Securities and Exchange Commission. For S&P 500 companies overall, 28...

May 9, 2023

NewsOccupational Pensions, Pension Management, US

08MayMay 8, 2023

US. Rising interest rates put corporate pension plans on end-game path

U.S. corporate pension plans are on average fully funded for the first time in 15 years, and plan executives are now in the unfamiliar position of being able to achieve the end state of their plans. The publicly traded U.S. companies with the 100 largest defined benefit plans can now boast an average funding ratio of 100.2% as of Dec. 31, according to Pensions & Investments' analysis of the latest 10-K filings. It is the first time the annual analysis has...

May 8, 2023

NewsFunding, Pension Management, US

05MayMay 5, 2023

Pension Reform: Conceptual Foundations and Practical Challenges

By Seamus H. Duffy & Oliver Giesecke Underfunded pension are the largest liability for state and local governments across the United States. As a result of increasing recognition of the associated risks, recent statutory funding mandates led to a sharp increases in required contributions, threatening city services and employee bases. As funding pressure mounts, pension reforms offer a viable tool for prudent economic policy. We propose five general principles that guide pension reform considerations and discuss how these principle stand...

May 5, 2023

Articles, Pension design, Regulation2023, Defined Benefit, Defined Contribution, Pension Reform, US

05MayMay 5, 2023

US. Auto-Enrollment Gains in Popularity Among Retirement Plan Participants

Automatic enrollment, one of many retirement saving tactics expected to increase in frequency due to the passage of the SECURE 2.0 Act of 2022, are favored at an all-time high, new data from American Century shows. Among retirement plan participants surveyed in late 2022, 71% agreed employers should auto-enroll workers at a 10% default, compared with 47% in 2021 and 46% in 2020, according to the American Century Investments 10th Annual Retirement Savers Survey: Reflection, Risk and Resolve. While survey respondents...

May 5, 2023

NewsAuto enrollment, savings, US

05MayMay 5, 2023

US. PBGC Bails Out Service, Manufacturing, Transportation Pension Funds

The Pension Benefit Guaranty Corp. on Monday provided Special Financial Assistance totaling more than $600 million to three multiemployer plans. The plans are the Western States Office and Professional Employees Pension Plan, the United Furniture Workers Pension Fund A and the Building Material Drivers Local 436 Pension Plan. The Western States plan, based in Portland, Oregon, has 7,230 participants in the service industry. In October 2018, it cut benefits by 25% to approximately 6,000 participants under the Multiemployer Pension Reform...

May 5, 2023

NewsPension Management, System sustainability, US

04MayMay 4, 2023

U.S. Corporate pension plans stay at or near 100% funded in April

U.S. corporate pension plans remained at or near 100% funded in April after slightly positive returns and slightly falling discount rates kept the numbers from moving too much, according to three new monthly reports. Legal & General Investment Management America estimated the average funding ratio of the typical U.S. corporate pension plan was 100.5% as of April 30, up from 100.3% a month earlier. In its latest monthly Pension Solutions Monitor, LGIMA said the estimated average funding ratio rose in April...

May 4, 2023

NewsFunding, Public Pensions, US

May 2023