The funded status of state-level DB public pension plans reveals that public employee retirement promises are underfunded by US$4.1 trillion, according to a report.
I recall co-authoring a report in 1982 in which we predicted that future inflation would 9% a year for the long term. That sounds crazy now, but it seemed reasonable at the time, especially considering that inflation averaged 9.7% a year over the previous 10 years, with no end in sight.
This summer, the Canadian Institute of Actuaries released new pension mortality tables. The tables revealed longer life expectancies than were previously provided by commonly used tables. Some of the industry reaction has focused on the longevity risk faced by DB pension plans.
To address its growing DB pension deficit, the ailing Canada Post needs to gradually contract out more of its services, according to an e-brief by the C.D. Howe Institute.
Two American companies have announced they would sell major media properties over the last few days, yet the fate of the pension liabilities are different.
The second quarter of 2013 brought modest gains for public pension funds in the United States while delivering losses to corporate pension plans, according to new Northern Trust Universe data.
Last year, S&P 500 companies posted record shortfalls in their pensions and other post-employment benefits, threatening to leave America’s future retirees empty-handed.
Pension assets remained unchanged during the second quarter of 2013, as a spike in interest rates in June negated advances in April and May.
In an effort to plug a solvency gap without cutting benefits, the Anglican Church of Canada is urging its pension plan members to approve a three-year funding extension.
Key inflection points in history are seldom appreciated for what they are until considerable time has passed. An extreme example is Zhou Enlai’s response when asked about the historical significance of the French Revolution two centuries earlier. He said it was too soon to tell.