In situations outside a formal bankruptcy proceeding, this could result in different treatment
of pension benefits in different provinces depending on the wording of the provincial legislation, so long as it is not inconsistent with the interim financing provisions in the CCAA.
Social Security Leveling Option - An optional type
of pension benefit in some plans that provides higher monthly payments to retirees before a specified age (for example, before age 62 or 65) and lower payments thereafter.
Not exact matches
In 2013, Diamonte was appointed by President Barack Obama and currently serves as chair
of the advisory committee for
Pension Benefit Guaranty.
The government has therefore brought
in new legislation to ensure that everyone
in employment would have access to a
pension as part
of their workplace
benefits.
Chriss pegs growth
in the contingent work force to structural changes
in employment over the past decades, including a decline
in enrollment
in defined -
benefit pension plans and growth
in the average duration
of unemployment.
State
pension funds, facing a potential multitrillion - dollar shortfall, find themselves
in the center
of a four - way battle: Employees and retirees expect to be paid their promised
benefits; the
pension systems have clear obligations but may not have the resources to pay them; politicians are looking for ways to resolve the underfunding and balance the burden among retirees and workers; and state taxpayers, challenged to provide for their own retirements, resent the additional tax load.
After a multi-year round
of negotiations between the federal and provincial governments, a deal was reached to increase contributions still further, limit
benefits, and accumulate a surplus to be invested
in what is now the $ 280 billion Canada
Pension Plan Investment Board.
This sum
of total
benefits is then divided by average career earnings to arrive at the public
pension replacement rate shown
in the chart.
The company has applied ASU 2017 - 07 retrospectively for the presentation
of the service cost component and the other components
of net periodic
pension cost and net periodic postretirement
benefit cost and prospectively for the capitalization
of the service cost component
of net periodic
pension cost and net periodic postretirement
benefit in assets.
Pierlot wrote a paper for the CD Howe Institute
in 2011 showing that a person with a salary
of $ 75,000 at the end
of a 35 - year career would accumulate more than $ 1.4 million
in savings through a defined -
benefit plan (wherein the pensioner is paid a set income based on past earnings and years
of service, mostly confined to the public sector these days) compared to $ 674,711 for someone with no
pension but a maxed - out Registered Retirement Savings Plan.
«There is no long - term accountability
in the public sector, so the
pensions and
benefits can be allowed to balloon out
of control,» according to one respondent.
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 currencie
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 currencie
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.
Panigirtzoglou and his colleagues calculate that every one percent rise
in stock markets will require around $ 25 billion
of bond purchases from U.S. defined
benefit pension funds alone.
With so many U.S. corporations racing to the bottom — moving manufacturing to foreign countries for cheap labor and no environmental responsibility, taking advantage
of the H1 - B Visa program to bring cheap workers
in, lowering
benefits and eliminating
pension plans — it's refreshing to learn that some companies are taking the exact opposite approach.
In March, Bombardier Aerospace workers voted overwhelmingly in favour of a new reciprocity agreement that ensures workers who switch between Bombardier and the future partnership don't lose their pensions and keep most seniority benefits, including salary and vacation tim
In March, Bombardier Aerospace workers voted overwhelmingly
in favour of a new reciprocity agreement that ensures workers who switch between Bombardier and the future partnership don't lose their pensions and keep most seniority benefits, including salary and vacation tim
in favour
of a new reciprocity agreement that ensures workers who switch between Bombardier and the future partnership don't lose their
pensions and keep most seniority
benefits, including salary and vacation time.
Financial institutions such as Nomura Securities Co, SBI Securities Co, the Bank
of Tokyo - Mitsubishi UFJ, and Sumitomo Mitsui Banking Corp now offer private
pension plans and could
benefit from a significant expansion
in this market.
In addition, as discussed in 3M's Form 8 - K dated March 15, 2018, the Company adopted Accounting Standards Update (ASU) No. 2017 - 07 relative to the presentation of pension and postretirement benefit costs in the first quarter of 2018 with retroactive impact to prior period
In addition, as discussed
in 3M's Form 8 - K dated March 15, 2018, the Company adopted Accounting Standards Update (ASU) No. 2017 - 07 relative to the presentation of pension and postretirement benefit costs in the first quarter of 2018 with retroactive impact to prior period
in 3M's Form 8 - K dated March 15, 2018, the Company adopted Accounting Standards Update (ASU) No. 2017 - 07 relative to the presentation
of pension and postretirement
benefit costs
in the first quarter of 2018 with retroactive impact to prior period
in the first quarter
of 2018 with retroactive impact to prior periods.
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»).
Although Sanders and his wife's joint tax return showed income
of only a little more than $ 200,000 for 2014 — including his $ 174,000 salary, his mayoral
pension, and their Social Security payments — the senator's expected retirement
benefits make his situation much more comparable to those
in the millionaire class he faults.
Employers generally do give departing employees information about their
pension benefits, but it may be overlooked
in the excitement
of a new job or the uncertainty
of a layoff.
About 90 %
of my investible assets are
in equities because I have a defined -
benefit pension.
That's
in part due to the dwindling number
of companies providing defined
benefits; lack
of pensions have caused many to hang
in longer, said Amanda Sonnega, an associate research scientist with the University
of Michigan Health and Retirement Study.
While only 11 %
of employees
in Canada's private sector belong to a defined
benefit pension plan, 43
of the top 100 CEOs have a define
benefit pension plan worth an average
of $ 1.39 million a year.
• 35 %
of retirees have less than $ 1,000
in savings and investments that could be used for retirement, not counting their primary residence or defined
benefits plans such as traditional
pensions; 53 % have less than $ 25,000.
These risks and uncertainties include competition and other economic conditions including fragmentation
of the media landscape and competition from other media alternatives; changes
in advertising demand, circulation levels and audience shares; the Company's ability to develop and grow its online businesses; the Company's reliance on revenue from printing and distributing third - party publications; changes
in newsprint prices; macroeconomic trends and conditions; the Company's ability to adapt to technological changes; the Company's ability to realize
benefits or synergies from acquisitions or divestitures or to operate its businesses effectively following acquisitions or divestitures; the Company's success
in implementing expense mitigation efforts; the Company's reliance on third - party vendors for various services; adverse results from litigation, governmental investigations or tax - related proceedings or audits; the Company's ability to attract and retain employees; the Company's ability to satisfy
pension and other postretirement employee
benefit obligations; changes
in accounting standards; the effect
of labor strikes, lockouts and labor negotiations; regulatory and judicial rulings; the Company's indebtedness and ability to comply with debt covenants applicable to its debt facilities; the Company's ability to satisfy future capital and liquidity requirements; the Company's ability to access the credit and capital markets at the times and
in the amounts needed and on acceptable terms; and other events beyond the Company's control that may result
in unexpected adverse operating results.
In the 23rd Actuarial Report on the Canada Pension Plan (OCA, 2007), the Office of the Chief Actuary (OCA) certified that, in spite of the substantial increase in CPP benefit payments that would result from the retirement of the baby boom generation, the current legislated contribution rate of 9.9 per cent for employers and employees combined would be more than enough to pay for benefits through 207
In the 23rd Actuarial Report on the Canada
Pension Plan (OCA, 2007), the Office
of the Chief Actuary (OCA) certified that,
in spite of the substantial increase in CPP benefit payments that would result from the retirement of the baby boom generation, the current legislated contribution rate of 9.9 per cent for employers and employees combined would be more than enough to pay for benefits through 207
in spite
of the substantial increase
in CPP benefit payments that would result from the retirement of the baby boom generation, the current legislated contribution rate of 9.9 per cent for employers and employees combined would be more than enough to pay for benefits through 207
in CPP
benefit payments that would result from the retirement
of the baby boom generation, the current legislated contribution rate
of 9.9 per cent for employers and employees combined would be more than enough to pay for
benefits through 2075.
Both
of our jobs currently have defined
benefit pension plans
in place, both
of which we are vested
in — I don't put a dollar figure on those but figure those will provide 3k to 4k
in retirement income when we retire, depending upon when we retire and then when we choose to draw it.
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 securitie
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 securitie
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 fund
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 fund
in a separate investment pool from public sector funds.
(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.
In 1978, when the law authorizing the creation
of the 401 (k) was passed, employers commonly attracted and retained talent by offering a secure retirement through a
pension (a type
of a defined
benefit plan).
thanks, and yes, a pittance
of a
pension and regular checkups keep us on budget and head off any problems — best decision i ever made (financial or otherwise) was serving our country doing search - and - rescue, oil and chemical spill remediation, etc. (you can guess the branch
of service)-- along the way, frugal living, along with dollar - cost averaging, asset allocation, and diversification allowed us to retire early — Vanguard has been very good over the years, despite the Dot Bomb, 2002, and the recession (where we actually came out better with a modest but bargain retirement home purchase)... it's not easy building additional «legs» on a retirement platform, but now that we're here, cash, real estate, investments and insurance products, along with a small
pension all help to avoid any real dependence on social security (we won't even need it at full retirement age)-- however, like nearly everybody, we're headed for Medicare
in several years, albeit with a nice supplemental and pharmacy
benefits — but our main concern is staying fit, active, and healthy!
We provide information about the
benefits under these plans in the Pension Benefits table and Non-Qualified Deferred Compensation table and related narratives beginning on page 79 of this proxy st
benefits under these plans
in the
Pension Benefits table and Non-Qualified Deferred Compensation table and related narratives beginning on page 79 of this proxy st
Benefits table and Non-Qualified Deferred Compensation table and related narratives beginning on page 79
of this proxy statement.
I thought I was set for retirement with
pension plan
benefits kicking
in after 30 years
of service.
Total compensation per employee consists
of many different elements, including not only negotiated / imposed wage settlements, bracket creep (employees moving up within their pay range), composition
of employment (professional vs clerical), pay equity,
pension and other future employee benefit costs driven in part by market conditions, Canada and Quebec Pension Plan contributions (which increase by the annual increase in the industrial wage), among
pension and other future employee
benefit costs driven
in part by market conditions, Canada and Quebec
Pension Plan contributions (which increase by the annual increase in the industrial wage), among
Pension Plan contributions (which increase by the annual increase
in the industrial wage), among others.
The days are gone when family breadwinners could expect to work for one employer throughout their entire career, retire on generous defined
benefit pensions provided by that employer, with the comfort
of knowing that expenses
in their golden years would be securely funded by the deep pockets
of government.
Information about the post-retirement
benefit available under this arrangement for Mr. Oman appears
in column (h)
of the Summary Compensation Table,
in column (d)
of the
Pension Benefits table,
in the narrative that follows the
Pension Benefits table, and the table under «Potential Post-Employment Payments» beginning on page 87
of this proxy statement.
In comparing total compensation, HR professionals use a rough guideline that
benefits can total 20 per cent
of income once you include vacation, health and
pensions.
One
of the things that appeals to me the most about this Cash Reserve method is that the amount
of stock assets I have
in my portfolio is determined not by some arbitrary percentage, but, instead, by how much I income I spend each month after taking Social Security
benefits and
pension income into account.
My sense is that it is still mainly defined
benefit pension plans that are interested
in hedge funds and private equity, which are the focus
of the Intel case.
Since the largest share
of operating costs relate to employee compensation (wages, salaries,
pensions, sickness
benefits, etc.), there will need to be major structural reforms
in this area.
Today, the pool
of savings necessary to generate a given level
of income needs to be higher than
in the past, a situation compounded by the decline
in defined
benefit pension plans.
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.
[32]
In addition, important classes
of the most active institutions — most notably government and union
pension funds — have strong incentives to pursue private
benefits at the expense
of other investors.
The «All Plan Universe» currently tracks the performance and asset allocation
of over $ 650 billion
in assets under management across Canadian defined
benefit (DB)
pension plans, and is a widely - recognized performance benchmark indicator.
* Reflects the impact
of the adoption
of new accounting guidance on the presentation
of net periodic
pension cost and net periodic postretirement
benefit cost
in the first quarter
of fiscal 2018.
In the six - month period of fiscal 2018, the company incurred gains of $ 14 million in Other expenses / (income)($ 10 million after tax, or $.03 per share) associated with mark - to - market adjustments for defined benefit pension and postretirement plan
In the six - month period
of fiscal 2018, the company incurred gains
of $ 14 million
in Other expenses / (income)($ 10 million after tax, or $.03 per share) associated with mark - to - market adjustments for defined benefit pension and postretirement plan
in Other expenses / (income)($ 10 million after tax, or $.03 per share) associated with mark - to - market adjustments for defined
benefit pension and postretirement plans.
For the year ended July 30, 2017, the company incurred gains
of $ 178 million
in Other expenses / (income)($ 116 million after tax, or $.38 per share) associated with mark - to - market adjustments for defined
benefit pension and postretirement plans.