Defined Benefits

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  Overhaul of TDFs in the works

  By Paula Aven Gladych  |  June 18, 2013

  Target-date funds have been a boon to the investment industry, but some big changes could be on the way.

• California lawmakers set to pass on-time budget

  By Judy Lin  |  June 14, 2013

  California lawmakers are expected to vote Friday on an on-time Democratic spending plan that includes a historic education funding shift to boost the fortunes of school districts with high numbers of poor and minority students while restoring some social services that fell victim to the recent recession.

• Patriot, union exchange jabs during bankruptcy

  By Jim Suhr  |  June 14, 2013

  Top executives of a bankrupt coal producer and the nation's biggest miner's union are trading public jabs over bargaining meant to stave off a strike against a company given a court's go-ahead to slash health care and pensionbenefits to thousands of workers and retirees.

• South Carolina pension fund posting huge return

  By The Associated Press  |  June 14, 2013

  South Carolina's pension fund investments are expected to post double-digit earnings for the current fiscal year.

• Detroit advisor accused of stealing $3.1M from pension plan

  By Paula Aven Gladych  |  June 12, 2013

  The SEC has accused a Detroit-based investment advisor of stealing nearly $3.1 million from the city's police and firefighter's pension plan.

• DOL sues to recover $4.9 million for DB plan participants

  By Paula Aven Gladych  |  June 12, 2013

  The federal goverment is attempting to recover $4.9 million for defined benefit plan participants of an Iowa iron casting foundry and a Michigan manufacturer.

• Moody’s joins Fitch in downgrading Illinois credit

  By The Associated Press  |  June 7, 2013

  A second major rating agency is downgrading Illinois' credit worthiness.

• Variable annuities offer a bright spot

  By Paula Aven Gladych  |  June 6, 2013

  Variable annuity sales showed some improvement in the first quarter, a positive sign for an industry that has been slumping.

• Funded status of corporate pensions at highest level since 2011

  By Paula Aven Gladych  |  June 6, 2013

  The funded status of the typical U.S. corporate pension plan rose 5.6 percentage points in May.

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  Proposed PBGC changes cause concern

  By Paula Aven Gladych  |  June 5, 2013

  Many industry groups are up in arms about proposed PBGC regulation changes.