Tag: PR Newswire

Milliman analysis: Corporate pension funded ratio climbs to 92.9% in February

Mary Pat Campbell

Link: https://www.prnewswire.com/news-releases/milliman-analysis-corporate-pension-funded-ratio-climbs-to-92-9-in-february-301242549.html

Excerpt:

Milliman, Inc., a premier global consulting and actuarial firm, today released the latest results of its latest Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans.

In February, corporate pension funding improved by $67 billion thanks to a 26-basis-point increase in the monthly discount rate, from January’s 2.62% to 2.88% as of February 28. As a result, the funded status deficit dropped to $133 billion at month’s end. Meanwhile, the market value of assets dropped by $2 billion for the month, the result of a meager 0.13% investment gain. Overall the funded ratio for the Milliman PFI plans climbed from 89.7% at the end of January to 92.9% as of February 28, the fifth straight month of improved funding for these plans.

Author(s): Milliman

Publication Date: 8 March 2021

Publication Site: PRNewswire

Motor Vehicle Deaths in 2020 Estimated to be Highest in 13 Years, Despite Dramatic Drops in Miles Driven

Mary Pat Campbell

https://www.prnewswire.com/news-releases/motor-vehicle-deaths-in-2020-estimated-to-be-highest-in-13-years-despite-dramatic-drops-in-miles-driven-301240410.html

Excerpt:

For the first time since 2007, preliminary data from the National Safety Council show that as many as 42,060 people are estimated to have died in motor vehicle crashes in 2020. That marks an 8% increase over 2019 in a year where people drove significantly less frequently because of the pandemic. The preliminary estimated rate of death on the roads last year spiked 24% over the previous 12-month period, despite miles driven dropping 13%. The increase in the rate of death is the highest estimated year-over-year jump that NSC has calculated since 1924 – 96 years. It underscores the nation’s persistent failure to prioritize safety on the roads, which became emptier but far more deadly.  

Author(s): National Safety Council

Publication Date: 4 March 2021

Publication Site: PR Newswire

Teamsters Laud House Committee For Including Pension Reform In Stimulus Bill

Mary Pat Campbell

Link: https://www.prnewswire.com/news-releases/teamsters-laud-house-committee-for-including-pension-reform-in-stimulus-bill-301225317.html

Excerpt:

 The Teamsters are applauding the House Ways & Means Committee’s inclusion of a multiemployer pension reform measure in a broader stimulus package introduced by the panel yesterday.

In unveiling language included in the Butch Lewis Emergency Pension Plan Relief Act of 2021, the House panel took the first step towards ensuring that millions of retirees and active workers who have played by the rules will receive the pension benefits they earned through years of hard work.

“The financial distress many of these plans are facing is beyond the control of retirees and workers,” Teamsters General President Jim Hoffa said. “While multiemployer pension plans have been buffeted by economic turbulence over the decades, the situation has been seriously exacerbated by the current pandemic.”

Author(s): International Brotherhood of Teamsters

Publication Date: 9 February 2021

Publication Site: PR Newswire