Defined Benefits

U.S. institutional investors say their top concern is funding status, with a majority of pensions saying they intend to improve it.

Congress mandated the increase, which will not be retroactively applied to plans terminated before 2015.

Keck, who has more than 30 years of experience in the employee benefits industry, will serve a one-year term.

Beginning next year, single-employer plans that pay a per-participant flat premium will see an increase to $57 per participant, up from $49 in 2014.

Ryders pension plans were underfunded by $300 million at the end of 2013, with $1.8 billion in assets and $2.1 billion in liabilities.

They say that speed with which more plans sponsors are proceeding with de-risking measures makes the need for regulatory guidance urgent.