The estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process increased from 100.2 per cent of a plan’s accounting liabilities to 100.5 per cent of those liabilities in August, according to Milliman Inc.’s latest pension buyout index. The index uses the FTSE above median AA curve and annuity purchase composite […]
More than 5,600 Ford of Canada workers have voted in favour of ratifying a three-year collective agreement that includes improvements to the defined contribution and defined benefit pension plans. The agreement “fundamentally transforms pension plans,” said Lana Payne, Unifor national president, in a press release. Under the agreement, the DB plan’s basic monthly benefit rate […]
An article on the 2023 Benefits Canada Healthcare Survey’s findings on plan members’ appreciation of health benefits was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. 72% of plan members appreciate health benefits more today than before pandemic: survey 2. 54% of benefits plan members currently live […]
The funded ratio of the U.S.’s 100 largest defined benefit pension plans dropped slightly in August, from 76.8 per cent as of July 31 to 75.3 per cent as of Aug. 31, the result of a $98 billion funded status decline, according to Milliman Inc.’s latest public pension funding index. The result was driven by […]
The Nova Scotia Labour Board has ordered St. Mary’s University to resume making pension contributions for employees on long-term disability leave, reasoning that the pension committee had no authority to make changes to contribution levels mandated by the plan. “The board found that amendments to the pension plan proposed by the pension committee — the […]
Public defined benefit pension plans can play a critical role in delivering adequate retirement income for U.S. retirees, while providing a key buffer against economic hardship for women, the Black, Indigenous and people of colour communities and workers without a college degree, according to a new report by the National Institute on Retirement Security and […]
An article on the Canadian Association of Pension Supervisory Authorities’ new risk management guideline was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. CAPSA’s risk management guideline adaptable to changes in cybersecurity, ESG: webinar 2. How hybrid workplaces and employees can navigate flu season 3. Canadian employers say competing […]
Working in the pension industry has always been aligned with Shannan Corey’s personal interests and values. Her father was an actuary so she was exposed to the pension industry from a very young age. After earning her mathematics degree at the University of Saskatchewan, she became an associate actuary, spending a few years in consulting […]
New York City’s pension funds and the State of Oregon are suing Fox Corp., alleging the company harmed investors by allowing Fox News to broadcast falsehoods about the 2020 U.S. presidential election that exposed the network to defamation lawsuits, according to a report by the New York Times. The lawsuit, which didn’t specify the damages […]