Lower long-term interest rates drove down the solvency of Canadian DB plans from July to September. It was the first decline in two years.
Manitoba Telecom Services (MTS) has reached an agreement with its unions and retirees in respect of the implementation of the lawsuit regarding the administration of one of its pension plans.
Motorola Solutions has reached an agreement with the Prudential Insurance Company of America, under which the insurer will assume responsibility for the monthly pension benefits for retirees. Motorola Solutions also will offer eligible U.S. pension plan participants the opportunity to apply for lump-sum pension payments.
Funding gaps for large public pension plans in the United States have widened over the last 10 years despite long-term investment returns meeting plan expectations, says Moody's Investors Service.
The United Steelworkers (USW) union is committed to defending the interests of its members and pensioners affected by U.S. Steel Canada's application for bankruptcy protection.
The market value of Canadian employer-sponsored pension funds totalled $1.4 trillion at the end of the first quarter, up 5.3% from the previous quarter, according to Statistics Canada.
Falling interest rates precipitated by geopolitical tensions led to higher liabilities and a lower funded status for the typical U.S. corporate pension plan in August.
Financial services companies have the best funded DB plans, while IT and healthcare companies tend to have the lowest funded plans, according to an analysis by BNY Mellon's Investment Strategy and Solutions Group.
Regina's mayor is calling for representatives from the employees' groups within the Civic Employees' Pension Plan to return to the negotiating table.
Pension benefits in Ontario's electricity sector pension plans are "richer" than most of the broader public service plans, according to a report.