Archive of: Retirement

Title Issue

Corporate pensions see $186B deficit increase in Q2

The nation's 100 largest defined benefit pension plans experienced a $57 billion decrease in funded status during June based on a $77 billion increase in the pension benefit obligation and a $20 billion increase in asset value, according to Milliman Inc.'s latest Pension Funding Index. The $57 billion decrease in funded status pairs with the combined April and May decreases of $129 billion, increasing the funding deficit by $186 billion during the second quarter.

July 2012

Pension plans' funding status erodes

The aggregate deficit in pension plans sponsored by S&P 1500 companies grew $59 billion during the first half of 2012, to $543 billion, according to new figures from Mercer Investment Consulting Inc.. This deficit corresponds to an aggregate funded ratio of 74 percent as of June 30, compared to a funded ratio of 75 percent as of  Dec. 31, 2011, at which point the aggregate deficit was $484 billion.

July 2012

Corporate pension gains evaporate in May

The nation's 100 largest defined benefit pension plans experienced a $90 billion decrease in funded status during May based on a $60 billion increase in the pension benefit obligation and a $30 billion decline in asset value, according to Milliman Inc.'s latest Pension Funding Index. The $90 billion decrease in funded status pairs with last month's $39 billion decrease, depriving these pensions of all year-to-date gains.

June 2012

Corporate pension funded status declines for first time this year

The nation's 100 largest defined benefit pension plans experienced a $39 billion decrease in pension funded status during April based on a $35 billion increase in the pension benefit obligation and a $4 billion decline in the asset value, according to Milliman Inc.'s latest Pension Funding Index.

May 2012

People on the Move 04/19/2012

Len Ganduglia has been appointed to the board of Pacific Northwest Chapter of the Society of Government Meeting Professionals. He is a sales manager for Tacoma Regional Convention & Visitors Bureau and works with government, corporate, education and religious markets.

Ian W. Hartley has been named to Seattle Magazine's annual list of 2012 Five Star: Best in Client Satisfaction Wealth Managers. He is a partner at Westgate Capital Consultant LLC in Tacoma.

April 2012

People on the Move

Craig Gunn has joined Maxi-Space as senior property manager. He most recently served as a managing real estate broker in Thurston County and has experience in residential and commercial real estate sales and property management. Gunn also serves as director for the Thurston County Realtors Association and has Accredited Buyers Representation designation.

Jessica Haynes R.N. has been named Employee of the Month for Mason General Hospital & Family of Clinics. She has worked at MGH since 2005, when she started as a nurse technician while she was in nursing school at South Puget Sound Community College. Upon graduation in 2006, she remained working in the emergency department full-time, most recently going part-time with the birth of her first child. In addition to patient care, she has been a charge nurse and served on the Emergency Department council - a process to improve patient care, protocols and procedures.

April 2012

Wealthy investors more worried about economy than a year ago

The prolonged economic downturn has become the top worry for most wealthy investors, according to new research from Spectrem Group.

Four of five millionaire investors cited the sluggish economy as a concern in the first quarter of 2012 compared to 70 percent in the same period in 2011. Similarly, 81 percent of mass affluent investors, whose net worth is between $100,000 and $1 million, cited it as a concern during the first quarter versus 74 percent in 2011's first quarter.

April 2012

Market rally, rising interest rates reduce corporate pension deficit

The nations 100 largest defined benefit pension plans experienced a $58 billion improvement in funding last month thanks to a $4 billion improvement in asset value and a $54 billion reduction in the pension benefit obligation, according to Milliman Inc. latest Pension Funding Index.

"For the first time in months, interest rates moved in a positive direction for these 100 corporate pensions," said John Ehrhardt, co-author of the study. "While the positive market performance was consistent with the first two months of 2012, the pairing of asset improvement and a significant reduction in liabilities makes March the first good news/good news month we've seen this year."

April 2012

Military experience a plus for financial advisers

Americans view the traits of military veterans positively when selecting to work with a financial adviser, underscoring a demand in the market for veterans in the financial field, according to a survey released by financial services firm Edward Jones.

When asked why they would chose to work with a financial adviser with such experience, top reasons included military veterans' discipline (77 percent), goal-orientation (73 percent) and integrity (72 percent). Also influential, 61 percent said they would like to work with a veteran to thank him or her for their service to the country.

April 2012

Falling interest rates paint bleak year for corporate pensions

Last year, the nation's 100 largest corporate pensions were defined by record-low discount rates, which led to record-high pension liabilities and a $326.8 billion pension funding deficit--a $94.7 billion increase over year-end 2010.

That deficit was a record for the 12-year history of Milliman, Inc.'s annual Pension Funding Study. The pension funding ratio stood at 79.2 percent at year's end.

March 2012
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