Says that the Pew Center identifies NY as the best
funded pension plan in the country, but unlike other states NY will meet obligations.
In 2008, it was profitable and had no debt, a fully
funded pension plan and net equity of $ 1.5 billion.
Funding pension plans is a major expense — and a ticking time bomb.
Most fall near the bottom of the list in terms of responsibly
funding their pension plans.
It will add new funding streams to the state's woefully under -
funded pension plans, limit pension «spiking» whereby employees cash out vacation and sick leave to artificially inflate their benefits, raise the retirement age for current workers, limit annual cost - of - living adjustments, and allow a limited number of employees to choose a defined contribution plan over the traditional defined benefit.
Also, some states are considering one of the «dumbest ideas ever» — pension bonds (borrowing to
fund pension plans, relying on clever investing to beat the rate paid on the bonds).
For example, if a company chooses to take cash off the balance sheet, placing it in reserves to
fund a pension plan, its book value will drop.
This rights offering in conjunction with its associated financing raised over $ 2.7 billion for Sears Holdings, which enabled us to reduce debt and generate liquidity to
fund our pension plan and our operating losses.
Distributions from private, employer -
funded pension plans received upon retirement are partially taxed by the state if the employee contributed to the pension plan.
Also, private employer -
funded pension plans that employees did not contribute to are exempt.
States & municipalities could have
funded their pension plans fully, and not used the flexibility to fund other spending.
The entire amount that an employer is required to contribute to
fund a pension plan wind up deficiency under the Ontario Pension Benefits Act is subject to the deemed trust provisions of the PBA and, in the circumstances, the amount subject to the deemed trust should be paid in priority to outstanding secured creditor claims.
Not exact matches
My dad worked for 35 years at Stelco in Hamilton, before watching a once great company dragged into bankruptcy, in large part because of a
pension plan it could no longer
fund.
Important factors that could cause actual results to differ materially from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost of accommodating, announced increases in the build rates of certain aircraft; 6) the effect on aircraft demand and build rates of changing customer preferences for business aircraft, including the effect of global economic conditions on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result of global economic uncertainty or otherwise; 8) the effect of economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange rates; 9) the success and timely execution of key milestones such as the receipt of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation of our announced acquisition of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts of terrorism; 14) any adverse impact on the demand for air travel or our operations from the outbreak of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on
pension plan assets and the impact of future discount rate changes on
pension obligations; 17) our ability to borrow additional
funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition of Asco on favorable terms or at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase
plan, among other things.
the Company's share repurchase
plans depend on a variety of factors, including the Company's financial position, earnings, share price, catastrophe losses, maintaining capital levels commensurate with the Company's desired ratings from independent rating agencies,
funding of the Company's qualified
pension plan, capital requirements of the Company's operating subsidiaries, legal requirements, regulatory constraints, other investment opportunities (including mergers and acquisitions and related financings), market conditions and other factors.
In the case of the Royal Mail, the government took over the corporation's
pension plan and covered off the deficit in
funding.
The CPPIB, one of the world's largest
pension funds, invests money not needed by the Canada Pension Plan to pay benefits for some 18 million current and retired contri
pension funds, invests money not needed by the Canada
Pension Plan to pay benefits for some 18 million current and retired contri
Pension Plan to pay benefits for some 18 million current and retired contributors.
To that point, 92 percent of the 3,500 - plus readers who had taken our survey as of Dec. 4 said they would not roll over their 401 (k)
funds into a company
pension plan.
Fees paid to outside advisers and
fund managers have dragged down many
pension plans» performance — which is one reason Teachers cuts outsiders out of its process.
And the impact on
plans in the Netherlands would be worse, since Dutch
pension funds are seriously underfunded.
The CPPIB, one of Canada's biggest
pension funds, invests money not currently needed by the Canada Pension Plan to pay be
pension funds, invests money not currently needed by the Canada
Pension Plan to pay be
Pension Plan to pay benefits.
Wiseman said all of CPPIB's investment teams made material contributions last year, producing CPPIB's largest level of annual investment income since inception, but noted the Canada
Pension Plan isn't expected to need to draw money from the
fund until at least 2023 and, even then, at a relatively small amount for several years.
Restrictions on Individual
Pension Plans (IPPs) The June 6 budget reiterates a proposal to require a member of an IPP, once they turn 72, to make minimum annual withdraws similar to what's required for Registered Retirement Income
Funds (RRIFs).
It has received
funding from the Ontario Teachers
Pension Plan, which will buy about US$ 500 million of the equity, and Canadian private equity firm West Face Capital, which will buy US$ 250 million of the new HBC equity.
Japan's government loosened laws on
pensions in May, allowing almost all working - age Japanese to join private defined - contribution retirement
plans — similar to individual retirement accounts (IRAs) in the United States that allow workers to make regular contributions to an investment
fund with tax breaks.
Wiseman cautioned that the CPPIB — despite its large size in Canadian terms — competes against much bigger investors in the global market such as private equity
funds, sovereign wealth
funds and other public
pension plans that are also on the hunt for similar types of investments.
Blackstone Capital Partners VI attracted some of the world's largest private - equity investors, including the California Public Employees» Retirement System and the Canada
Pension Plan Investment Board, according to disclosures by the pension
Pension Plan Investment Board, according to disclosures by the
pensionpension funds.
«The companies and the management that have screwed with
pension plans, removed
funds or underfunded
plans piss me off to no end,» commented one CEO.
May 3 - Canadian plane and train maker Bombardier Inc has agreed to sell its Toronto aircraft assembly site to a
pension fund as part of efforts to raise extra cash under a five - year recovery
plan.
Among the factors that could cause actual results to differ materially are the following: (1) worldwide economic, political, and capital markets conditions and other factors beyond the Company's control, including natural and other disasters or climate change affecting the operations of the Company or its customers and suppliers; (2) the Company's credit ratings and its cost of capital; (3) competitive conditions and customer preferences; (4) foreign currency exchange rates and fluctuations in those rates; (5) the timing and market acceptance of new product offerings; (6) the availability and cost of purchased components, compounds, raw materials and energy (including oil and natural gas and their derivatives) due to shortages, increased demand or supply interruptions (including those caused by natural and other disasters and other events); (7) the impact of acquisitions, strategic alliances, divestitures, and other unusual events resulting from portfolio management actions and other evolving business strategies, and possible organizational restructuring; (8) generating fewer productivity improvements than estimated; (9) unanticipated problems or delays with the phased implementation of a global enterprise resource
planning (ERP) system, or security breaches and other disruptions to the Company's information technology infrastructure; (10) financial market risks that may affect the Company's
funding obligations under defined benefit
pension and postretirement
plans; and (11) legal proceedings, including significant developments that could occur in the legal and regulatory proceedings described in the Company's Annual Report on Form 10 - K for the year ended Dec. 31, 2017, and any subsequent quarterly reports on Form 10 - Q (the «Reports»).
Recent public spending in top - ranked Norway has bolstered the nation's
pension plans, helped in part by the country's massive sovereign wealth
fund.
May 3 - Canadian plane and train maker Bombardier Inc has agreed to sell its Toronto aircraft assembly site to a
pension fund as it strives to raise extra cash under a five - year recovery
plan.
May 3 (Reuters)- Canadian plane and train maker Bombardier Inc has agreed to sell its Toronto aircraft assembly site to a
pension fund as part of efforts to raise extra cash under a five - year recovery
plan.
«First, purchase an investment - oriented life - insurance policy with
funds from your qualified
pension or profit - sharing
plan,» says Cohen.
Indeed, when you factor in his mayoral
pension, any Thrift Savings
Plan assets, and Jane Sanders» retirement
funds, the household's effective retirement nest egg could be closer to a $ 2 million valuation.
Shindler and Trapani were also able to cut their taxes by channeling profits into
pension plans and
funding the tax - advantaged vehicles mentioned above.
Trotsky said the
pension has about 10 percent of its money in PE — around the national average for large public retirement
funds — and has no
plans to change that.
The 21st century is not yet a decade old, and we have already passed through two periods when DB
pension plans have faced serious underfunding and
plan sponsors have asked for a relaxation of
funding rules.
Among the things that prompted the creation of the inquiries were: financial difficulties facing DB
pension plans and related concerns about DB
funding rules; long simmering and unresolved legal issues, the most prominent of which revolve around the use of surpluses in DB
plans; ambiguity about how EPP regulations apply to new hybrid
plans; a lack of harmonization among Canadian regulatory laws; and declining coverage by EPPs in general and DB
plans in particular.
He
plans to make a $ 681 million payment to the state's
pension funds, which will cover the costs of benefits earned by active employees during the year.
When the Department of National Revenue received Canada
Pension Plan contributions, they were placed in a special account in the Consolidated Revenue
Fund.
It doesn't necessarily matter if you're saving in a work sponsored
pension plan, a 401 (k) account, IRA or just an individual investment
fund.
In addition to the Canada
Pension Plan Account, there was a Canada
Pension Plan Investment
Fund that would take the surplus that accumulated over and above administration costs and the amount of money required to pay immediate benefits (i.e. three months» worth) and invest it in provincial and federal securities.
In short, because they pool longevity risk, can offer a well - diversified portfolio with longer - term investments, and are professionally managed, public
pension funds deliver the same level of benefits as DC
plans at only 46 percent of the cost.15 Any
funds invested with the state
pension fund would be kept in a separate investment pool from public sector
funds.
Highland's diversified client base includes public
pension plans, foundations, endowments, corporations, financial institutions,
fund of
funds, governments, and high net - worth individuals.
(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 obligat
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 obligat
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 obligat
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 obligat
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.
MSCI Indexes with Fair Value Pricing help
fund managers,
pension plans and consultants explain the artificial tracking error between a
fund's fair value adjusted NAV and an MSCI index calculated using closing prices.
These were payable to the Canada
Pension Plan Investment
Fund.
On the heels of
plans by the Government
Pension Investment
Fund -LRB-
The recent stock market and real estate bubbles are much like pyramid schemes in the sense that what is bidding up stock and property prices is an exponential inflow of new money from
pension plans and mutual
funds (for shares) and bank credit (for real estate).