pension deficits – Benefits Canada.com

Quebec class action raising questions over DB pension liability following plan sponsor reorganization

bwolfe — Thu, 03 Oct 2024 13:00:30 +0000

A recent Quebec Superior Court decision has unleashed uncertainty over the liabilities of companies and their directors when a pension deficit appears in the context of a reorganization. The court authorized a group of defined benefit pension plan members to proceed with a $65 million class action against companies involved in a 2011 reorganization. The […]

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Estimated funded status of 100 largest U.S. DB pension plans increased to 79.9% in June: report

bmcgovern — Wed, 31 Jul 2024 19:00:54 +0000

The estimated funded status of the 100 largest U.S. public defined benefit pension plans rose to 79.9 per cent in June, from 79.4 per cent at the end of May, according to a new report by Milliman Inc. It found public DB plans in the report saw individual estimated returns ranging between 0.4 per cent […]

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Funded ratio of 100 largest U.S. corporate DB pension plans declines to 98.4% in fiscal 2023: report

bmcgovern — Wed, 01 May 2024 13:00:08 +0000

The funded ratio of U.S. corporate defined benefit pension plans declined to 98.5 per cent in fiscal 2023 from 99.4 per cent in 2022, according to a new report by Milliman Inc. The report, which reviews the financial disclosures of the 100 largest U.S. public corporate DB plans, found their average return on investments was […]

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Quebec court rules municipal sector pension law unconstitutional for retirees, justified for active members

bwolfe — Thu, 29 Jun 2023 13:00:45 +0000

The Quebec Court of Appeal has ruled the province’s Bill 15, which substantially modified municipal sector pension plans, is unconstitutional with respect to retirees but justified for active plan members. The legislation, which was passed in 2014, adopted a cost-sharing formula for plans and plan deficits, established a shared-cost stabilization fund and put an end […]

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Super-priority pension bill may hasten DB plan closures: expert

Gideon Scanlon — Thu, 15 Dec 2022 18:15:19 +0000

A bill currently under consideration by Canada’s senate could hasten the closure of open defined benefit plans, according to Gavin Benjamin, a partner in LifeWorks Inc.’s pension and benefits solutions business. “In our view, this is a potential outcome, particularly with respect to companies for whom the ability to borrow is affected by the bill,” […]

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DB Solvency Ratios Inch Up

mschmit — Tue, 02 Oct 2012 05:01:31 +0000

But nearly all plans still face solvency deficiency: Aon Hewitt.

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