Sentences with phrase «benefit pension liabilities»

An RAA is an infrequently used restructuring mechanism designed to help financially distressed companies detach themselves from their defined benefit pension liabilities.

Not exact matches

In effect, these countries filed false prospectuses; they fluffed up their assets, disguised the liabilities in their pension and benefit schemes, and managed to adopt the euro at a rate of exchange that exaggerated the value of their currencies.

Such risks, uncertainties and other factors include, without limitation: (1) the effect of economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels of end market demand in construction and in both the commercial and defense segments of the aerospace industry, levels of air travel, financial condition of commercial airlines, the impact of weather conditions and natural disasters and the financial condition of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization of the anticipated benefits of advanced technologies and new products and services; (3) the scope, nature, impact or timing of acquisition and divestiture or restructuring activity, including the pending acquisition of Rockwell Collins, including among other things integration of acquired businesses into United Technologies» existing businesses and realization of synergies and opportunities for growth and innovation; (4) future timing and levels of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope of future repurchases of United Technologies» common stock, which may be suspended at any time due to various factors, including market conditions and the level of other investing activities and uses of cash, including in connection with the proposed acquisition of Rockwell; (7) delays and disruption in delivery of materials and services from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits of organizational changes; (11) the anticipated benefits of diversification and balance of operations across product lines, regions and industries; (12) the outcome of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact of the negotiation of collective bargaining agreements and labor disputes; (15) the effect of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect of changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general market conditions, global trade policies and currency exchange rates in the near term and beyond; (16) the effect of changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.

(a) Schedule 2.7 (a) of the Disclosure Schedule contains a list setting forth each employee benefit plan, program, policy or arrangement (including any «employee benefit plan» as defined in Section 3 (3) of the Employee Retirement Income Security Act of 1974, as amended («ERISA»)(«ERISA Plan»)-RRB-, including, without limitation, employee pension benefit plans, as defined in Section 3 (2) of ERISA, multi-employer plans, as defined in Section 3 (37) of ERISA, employee welfare benefit plans, as defined in Section 3 (1) of ERISA, deferred compensation plans, stock option plans, bonus plans, stock purchase plans, fringe benefit plans, life, hospitalization, disability and other insurance plans, severance or termination pay plans and policies, sick pay plans and vacation plans or arrangements, whether or not an ERISA Plan (including any funding mechanism therefore now in effect or required in the future as a result of the transactions contemplated by this Agreement or otherwise), whether formal or informal, oral or written, under which (i) any current or former employee, director or individual consultant of the Company (collectively, the «Company Employees») has any present or future right to benefits and which are contributed to, sponsored by or maintained by the Company or (ii) the Company or any ERISA Affiliate (as hereinafter defined) has had, has or may have any actual or contingent present or future liability or obligation.

Direct program expenses were up $ 1.0 billion (5.5 %), primarily due to the timing of payments as well as an increase in federal government employee pension and other future benefit liabilities, reflecting the impact of lower interest rates.

Important factors that may affect the Company's business and operations and that may cause actual results to differ materially from those in the forward - looking statements include, but are not limited to, increased competition; the Company's ability to maintain, extend and expand its reputation and brand image; the Company's ability to differentiate its products from other brands; the consolidation of retail customers; the Company's ability to predict, identify and interpret changes in consumer preferences and demand; the Company's ability to drive revenue growth in its key product categories, increase its market share, or add products; an impairment of the carrying value of goodwill or other indefinite - lived intangible assets; volatility in commodity, energy and other input costs; changes in the Company's management team or other key personnel; the Company's inability to realize the anticipated benefits from the Company's cost savings initiatives; changes in relationships with significant customers and suppliers; execution of the Company's international expansion strategy; changes in laws and regulations; legal claims or other regulatory enforcement actions; product recalls or product liability claims; unanticipated business disruptions; failure to successfully integrate the Company; the Company's ability to complete or realize the benefits from potential and completed acquisitions, alliances, divestitures or joint ventures; economic and political conditions in the nations in which the Company operates; the volatility of capital markets; increased pension, labor and people - related expenses; volatility in the market value of all or a portion of the derivatives that the Company uses; exchange rate fluctuations; disruptions in information technology networks and systems; the Company's inability to protect intellectual property rights; impacts of natural events in the locations in which the Company or its customers, suppliers or regulators operate; the Company's indebtedness and ability to pay such indebtedness; the Company's dividend payments on its Series A Preferred Stock; tax law changes or interpretations; pricing actions; and other factors.

Important factors that may affect the Company's business and operations and that may cause actual results to differ materially from those in the forward - looking statements include, but are not limited to, operating in a highly competitive industry; changes in the retail landscape or the loss of key retail customers; the Company's ability to maintain, extend and expand its reputation and brand image; the impacts of the Company's international operations; the Company's ability to leverage its brand value; the Company's ability to predict, identify and interpret changes in consumer preferences and demand; the Company's ability to drive revenue growth in its key product categories, increase its market share, or add products; an impairment of the carrying value of goodwill or other indefinite - lived intangible assets; volatility in commodity, energy and other input costs; changes in the Company's management team or other key personnel; the Company's ability to realize the anticipated benefits from its cost savings initiatives; changes in relationships with significant customers and suppliers; the execution of the Company's international expansion strategy; tax law changes or interpretations; legal claims or other regulatory enforcement actions; product recalls or product liability claims; unanticipated business disruptions; the Company's ability to complete or realize the benefits from potential and completed acquisitions, alliances, divestitures or joint ventures; economic and political conditions in the United States and in various other nations in which we operate; the volatility of capital markets; increased pension, labor and people - related expenses; volatility in the market value of all or a portion of the derivatives we use; exchange rate fluctuations; risks associated with information technology and systems, including service interruptions, misappropriation of data or breaches of security; the Company's ability to protect intellectual property rights; impacts of natural events in the locations in which we or the Company's customers, suppliers or regulators operate; the Company's indebtedness and ability to pay such indebtedness; the Company's ownership structure; the impact of future sales of its common stock in the public markets; the Company's ability to continue to pay a regular dividend; changes in laws and regulations; restatements of the Company's consolidated financial statements; and other factors.

Important factors that may affect the Company's business and operations and that may cause actual results to differ materially from those in the forward - looking statements include, but are not limited to, increased competition; the Company's ability to maintain, extend and expand its reputation and brand image; the Company's ability to differentiate its products from other brands; the consolidation of retail customers; the Company's ability to predict, identify and interpret changes in consumer preferences and demand; the Company's ability to drive revenue growth in its key product categories, increase its market share or add products; an impairment of the carrying value of goodwill or other indefinite - lived intangible assets; volatility in commodity, energy and other input costs; changes in the Company's management team or other key personnel; the Company's inability to realize the anticipated benefits from the Company's cost savings initiatives; changes in relationships with significant customers and suppliers; execution of the Company's international expansion strategy; changes in laws and regulations; legal claims or other regulatory enforcement actions; product recalls or product liability claims; unanticipated business disruptions; failure to successfully integrate the business and operations of the Company in the expected time frame; the Company's ability to complete or realize the benefits from potential and completed acquisitions, alliances, divestitures or joint ventures; economic and political conditions in the nations in which the Company operates; the volatility of capital markets; increased pension, labor and people - related expenses; volatility in the market value of all or a portion of the derivatives that the Company uses; exchange rate fluctuations; risks associated with information technology and systems, including service interruptions, misappropriation of data or breaches of security; the Company's inability to protect intellectual property rights; impacts of natural events in the locations in which the Company or its customers, suppliers or regulators operate; the Company's indebtedness and ability to pay such indebtedness; tax law changes or interpretations; and other factors.

Other direct program spending, consisting of operating expenses for Crown corporation, defence and all other departments and agencies, increased $ 2.3 billion (4.2 %), primarily reflecting increases in federal government employee pension and other future benefit liabilities, reflecting the impact of lower interest rates.

All other department and agency expenses increased by $ 1.6 billion (3.2 %), largely reflecting an increase in actuarial liabilities for claims and employees» pension and other future benefit costs, the latter reflecting the impact of low interest rates on plan assets.

«Britain's generous defined benefit pensions have plumbed further depths during August, reaching another record - breaking deficit of # 459.4 bn as the scramble for bond assets and the interest rate cut sent their liabilities soaring -LSB-...]

Expenses for all other departments and agencies advanced $ 909 million (4.8 %), reflecting in part increased liabilities for employee pension and other future benefits.

Expenses for all other departments and agencies advanced $ 1.6 billion (6.1 %), also reflecting, in part, the impact of new initiatives proposed in Budget 2016 and increased liabilities for employee pension and other future benefits.

The decline in GM's pension liability could be even more significant when considering the low discount rate, just 3.5 %, it uses to measure its projected benefit obligations.

The liability to pay these benefits, both currently and in future years is financed by employee and employer contributions and income from investment of the Pension Fund.

S&P cited the County's «strong budgetary flexibility that has remained consistent over time,» «very strong liquidity, with strong access to external liquidity,» «strong management, with good financial policies and practices in place,» and the County's «strong debt and contingent liability profile, with limited exposure to fixed costs associated with pension and other postemployment benefit libation (OPEB) liabilities.»

Underfunding means that pension assets are lower than liabilities, or those benefits promised to beneficiaries.

This means that contributions include both the «normal cost» of pension liabilities accruing to current employees and the legacy costs of amortizing unfunded liabilities accrued previously (due to a variety of reasons, including the original pay - as - you go nature of most plans, as well as unfunded benefit enhancements over the years).

The state faces an unfunded liability of over $ 100 billion across its five different retirement systems, and pension benefits have already been cut down to the bone for new workers.

Our approach to valuing pensions, which considers both the generosity and the risk of pension benefits, is entirely consistent with economic theory, the way in which liabilities of all types are valued in the private sector, public - sector accounting standards in Canada and Western Europe, academic writings, and the judgments of officials at nonpartisan government agencies such as the Congressional Budget Office, the Federal Reserve, and the Bureau of Economic Analysis.

Using estimates from the pension funds themselves, the Pew Center on the States estimates that the unfunded liabilities of state and local governments for retirement benefits total roughly $ 1 trillion.

The sponsors of private plans must therefore contribute much more for every dollar of promised benefits than governments contribute to teacher pension plans that value liabilities using an 8 percent assumed return on portfolios heavily weighted with stocks, hedge funds, or private equity.

Who pays for the mounting unfunded liabilities of defined benefit pension systems?

These gaps are likely to continue to widen as states and school districts attempt to pay down large unfunded liabilities in educators» defined benefit (DB) pension plans.

Virtually all professional economists agree that calculating the value of guaranteed pension benefits using the assumed return on a portfolio of risky assets «understate [s] their pension liabilities and the costs of providing pensions to public - sector workers.»

L.A. Unified is saddled with $ 13 billion in unfunded pension and health - care - benefit liabilities.

Matters are made worse by legislatures that juice up the benefit formula when the stock market is up and the value of pension funds is high, only to find the systems saddled with even larger unfunded liabilities when the market turns sour.

Under DB plans, individual benefits are not tied to contributions, so the pension fund as a whole is supposed to accumulate enough money to pay for the accrued liabilities.

It's money that must be used to pay down unfunded pension liabilities, not actual retirement benefits.

Pension plans today are expensive, but the bulk of the costs are going to pay down unfunded liabilities, not for actual benefits for teachers.

States themselves would benefit as well by reducing the number of teachers participating in the state pension system, which are likely already backlogged and strained with large unfunded liabilities.

State retirement liabilities for health care benefits total $ 74 billion, and $ 72.6 billion for teacher pensions.

Carrying an unfunded liability, or pension debt, of any size increases the cost of retirement benefits, because in addition to paying for the benefits teachers earn each year, employers are charged a premium on each employee to help pay off the accumulated pension debt, Mr. McGee said.

In an analysis of the actions of Missouri's state legislature, which increased teacher pensions nine times during a ten - year period from 1991 - 2001 (netting each teacher about $ 75,000 in future benefits and imposing a $ 5.4 billion long - term liability to the state), researchers saw little evidence of any real analysis.

Local districts must own their role as fiscal stewards responsible for their budgets and stop ignoring the hard decisions that lie ahead - like crushing unfunded pension liabilities or underused facilities - and come up with a range of solutions that ultimately benefit ALL public students.

The UTLA report comes as the district is facing a potential $ 450 million deficit within three years due to declining enrollment and increasing fixed costs, including pension costs, legal liability and other post-employment benefits.

Unfunded pension liabilities are the estimated value of benefits earned by employees minus the assets set aside to pay them.

A change made by the Governmental Accounting Standards Board in 2004, and phased in over following years, required state and local governments to recognize the liability for Other Post-Employment Benefits (OPEB), that is, benefits other than pBenefits (OPEB), that is, benefits other than pbenefits other than pensions.

Recent reforms have further whittled away at pensions by cutting benefits and imposing greater restrictions for new hires in an attempt to pay down liabilities accrued over years of inadequate funding and poor returns in the stock market.

However, an additional decade and a half of pension underfunding, faulty actuarial assumptions, and extra benefits for workers have driven the system's unfunded liabilities sky - high.

Debt costs: The majority of contributions into teacher pension plans today are not going toward retirement benefits for today's teachers; they're mainly going toward unfunded pension liabilities.

But after congratulatory statements from other board members, Monica Ratliff asked about a slide that had not been presented that addresses a potential $ 450 million deficit in three years due to declining enrollment and increasing fixed costs, including pension costs, legal liability and other post-employment benefits.

Where should the discount rate for liabilities on a defined benefit pension plan be set?

As the asset is not being dealt with for the sole purpose of enabling the fund to discharge all or part of its liabilities in respect of superannuation income stream benefits, it can not be a segregated current pension asset under subsections 295 - 385 (3) or 295 - 385 (4) of the ITAA 1997.

An asset, commonly, stops being a segregated current pension asset when the fund ceases holding the asset «solely» to meet liabilities it has in relation to superannuation income stream benefits payable at that time.

We define ECI to be adjusted gross income (AGI) plus: above - the - line adjustments (e.g., IRA deductions, student loan interest, self - employed health insurance deduction, etc.), employer paid health insurance and other nontaxable fringe benefits, employee and employer contributions to tax deferred retirement savings plans, tax - exempt interest, nontaxable Social Security benefits, nontaxable pension and retirement income, accruals within defined benefit pension plans, inside buildup within defined contribution retirement accounts, cash and cash - like (e.g., SNAP) transfer income, employer's share of payroll taxes, and imputed corporate income tax liability.

Sun Life Institutional Investments (Canada) Inc. specializes in managing private asset class pooled funds and liability driven investing strategies for defined benefit pension plans and other institutional investors in Canada through its affiliation with Sun Life Assurance Company of Canada.

Virtually every teacher defined - benefit pension plan in the United States has experienced an increase in unfunded liabilities since the turn of the century, and in many states the increase has been substantial.

-- Lower interest rates lead to lower productivity — Lower interest rates lead to more risk taking — The big white elephant, aka the pension industry and unfunded liabilities in defined benefit retirement plans.

The net liability of the Group's defined benefit pension schemes (net of deferred tax) increased to $ 26.6 m at 30 June 2013 from $ 23.7 m at 31 December 2012.