Defined Benefits

In some cases, plan sponsors are being told that their termination basis funding levels are significantly lower than they actually are, which could be a result of misinformation tied to outdated glide paths or lump sum pension payouts.

Employers should provide targeted communications to women, as well as access to independent financial counselors, decision support tools, and debt management services to help bridge the gap, says a new report.

With an average projected wage increase of 3.9%, employers are shifting focus toward employee well-being and taking a total rewards approach by adding benefits, says a new study.

But don't call it a defined benefit plan. Call it guaranteed lifetime income. That's what the surveys say employees are asking for now. And start the messaging today.

All employers should be concerned when public service employees are anxious about their financial security because their jobs are essential and these worries can impact their ability to do their job, says a new report.

Particularly new hires, whose defined benefit plans are likely to be less generous than their longer-tenured co-workers, are not preparing adequately for retirement, says report.

To date, the federal program, which provides funding to severely underfunded multiemployer pension plans, has approved over $7.7 billion to plans that cover over 154,000 workers, retirees, and beneficiaries.

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