The increasing number of older Americans in the labour force is likely being driven by the need to obtain affordable employment-based health insurance and the need to continue to accumulate savings in employment-based defined contribution(DC)plans, says a paper by the Employee Benefit Research Institute. The percentage of those ages 55 or older in the workforce […]
Eighty-three percent of 401(k)participants were found to not know how much they pay in fees and expenses associated with their plan, according to a survey. The AARP survey, 401(k)Participants’ Awareness and Understanding of Fees, also found that more than half of participants don’t feel knowledgeable about the impact that fees can have on their retirement […]
Telus says it has no intentions of making a competing offer to acquire BCE, which agreed in June to be taken private by a consortium led by the Ontario Teachers’ Pension Plan. There has been much continued speculation and uncertainty in the market about the potential for Telus to pursue an offer to acquire BCE, […]
Charles Baillie, the former chairman and CEO of TD Bank Financial Group, will be the chairman of Alberta Investment Management Corporation’s board of directors. George Gosbee, chair, CEO and president of Tristone Capital Inc, will be the vice chair of the board. “These gentlemen bring a wealth of experience and knowledge of the investment industry […]
Dominion Bond Rating Services(DBRS)says the public perception of a serious problem in the funding of defined benefit(DB)pension plans in both Canada and the United States is a myth for over 90% of the plans it reviewed. Its study, Pension Plans: The Myth of a Pension Problem, says there are a few myths and misconceptions relating […]
The Accounting Standards Board(AcSB)has decided not to proceed with its proposed pension and benefit accounting changes after considering the comments from a wide spectrum of stakeholders. It believes these proposals would have enhanced Canadian financial reporting, but members agreed that now is not the right time to implement changes to accounting for employee future benefits. […]
Emergis has renewed its service agreement with The Great-West Life Assurance Company. Under this new five-year deal, Great-West Life will continue using Emergis’s Assure Claims solution for the adjudication of its drug card claims and the transport of its electronic dental claims. “We are pleased to continue our longstanding relationship with Emergis,” says Dave Johnston, […]
Stelco’s underfunded pension plan and other post-employment benefits could prevent the company from being taken over, according to a report by Scotia Capital. Analyst David Tyerman writes that a takeover is unlikely “especially if the company’s pension and OPEB is taken into account.” The aggregate underfunded position of these plans stood at about $1.45 billion […]
Canadian equity investment managers faced a more challenging investing environment in the second quarter, with only 53% of large cap equity managers beating the S&P/TSX Composite Index’s return. According to Russell Investments Canada’s 2nd Quarter 2007 Active Management report, that was down from 65% in the first quarter, which was the highest proportion in almost […]
The average account balance among American workers who consistently held 401(k)accounts over a seven-year period increased at an annual rate of 8.7%, says a study by the Employee Benefit Research Institute and the Investment Company Institute. Average account balances rose to US$121,202 at the end of last year from $67,760 at year-end 1999 among participants […]