Pension funds are evaluating the amount of yield that will be required — versus realistically achieved — as it relates to supporting
pension liabilities for baby boomers.
Group Immediate Annuity Plan: Pension benefits to the employees and
pension liabilities for employers.
Pension liabilities for transferring staff may be the sleeping goliath of risks here.
The exempt proportion under this provision for an income year is the: average value of a fund's current
pension liabilities for the year, divided by the average value of its superannuation liabilities for the year.
Unfunded
pension liabilities for U.S. teachers are massive — nearly $ 325 billion in 2012 — and only one - fifth of...
For his part, Emanuel was still pressing for a delay to address the city's pension situation, as unfunded
pension liabilities for the city alone reached $ 19 billion.
The pension liabilities for New York state and New York City have been kept in check over the years by hiking contributions, but increasing costs could place pressure on future budgets, according to report released this week by Moody's.
Not exact matches
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.
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.
In an era when the
pension liabilities of local governments remain a concern, investors may want to consider the debt offered by established public enterprises — airports and utilities,
for example — as an attractive alternative to lease revenue and
pension obligation bonds.
The Institute's rationale
for increasing the overall contribution rate from 20 per cent of pay to 24 per cent is their claim that the use of «fair - value» calculations reveals that the
pension liabilities are much higher than reported, due to the use of a too high discount rate.
Last month, MetLife announced it would bolster reserves by as much as $ 575 million to make up
for unrecorded
pension liabilities as part of its
pension risk transfer and group annuity business to group annuitants who went missing.
They also threaten the viability of money market funds and make life tough
for investors with nominal
liabilities, such as insurers and
pension funds.
As a vice chairman
for Goldman Sachs in Europe, Mr. Draghi was a proponent of nations and
pension funds using derivatives to manage their
liabilities.
In Italy and later, as a vice chairman
for Goldman Sachs in Europe, Mr. Draghi was a proponent of nations and other institutions like
pension funds using derivatives to more efficiently manage their
liabilities.
Simply put, the price UTX will pay
for this acquisition — which comes to ~ $ 33 billion when accounting
for all forms of debt and unfunded
pension liabilities — makes it almost impossible
for the deal to create long - term value
for shareholders.
Based on the Illinois Supreme Court's May 8 overturning of the statute that governs the State of Illinois» (A3 negative)
pensions, we believe that the city's options
for curbing growth in its own unfunded
pension liabilities have narrowed considerably.
However, at the end of 2009 - 10, the Government booked the full
liability ($ 5.9 billion)
for the one - time HST harmonization costs
for Ontario and British Columbia and an increase in accrual
liabilities for federal employee
pensions of about $ 3 billion.
During a leveraged buyout the
Pension liabilities MUST be planned
for in advance of the take - over and pre-funded!!!
Classifying
pensions as senior debt won't stop bankruptcies if a company can't change with the market, but that's no reason
for johnny - come - lately PE firms to ignore unfunded
pension liabilities so they can take the cash & run.
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.
It shows that assertions questioning the capacity of the FEDERAL government to pay
for programs, usually prefaced with the call
for â $ ˜â $ ˜adult conversationsâ $ ™ â $ ™, and couched in terms such as fiscal sustainability, solvency, and unfunded
liabilities, are red - herrings that will lead to needless reductions and privatizations of public programs in health care, elder care,
pensions and so on.»
«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-...]
The federal government is not responsible
for the
liabilities of the Canada
Pension Plan or that of the provinces, nor should it be.
Expenses
for all other departments and agencies advanced $ 909 million (4.8 %), reflecting in part increased
liabilities for employee
pension and other future benefits.
A big drop in returns would be particularly vexing
for pension funds, which are counting on private equity, hedge funds and other so - called alternative investments to help them meet their mounting
liabilities.
«Strong equity gains domestically and a weaker Canadian dollar helped boost foreign holdings, but lower long - term bond yields will have increased most plan
liabilities,» said Scott MacDonald, managing director,
Pensions for RBC Investor & Treasury Services.
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.
Other proposals include: measures to support families; a change in employment law; reform to public
pensions; break - up of the banks; and a proposal to remove the UK from any
liability for future EU bailouts.
Board member James Vitiello, who represents Dutchess County, said that while he shares Pally's empathy
for riders, he does not believe the MTA can afford to give up the fare increases — a move he said would set a «dangerous precedent» as the MTA wrestles with nearly $ 50 billion in debt and unfunded
pension liabilities.
Paterson's secretary, Larry Schwartz, and NYC OTB President Greg Rayburn held a conference call earlier today to reiterate that the cash - strapped betting operation will shut down if the Legislature doesn't approve its restructuring plan, costing thousands of jobs and leaving the state on the hook
for $ 540 million worth of
pension liabilities and $ 100 million in outstanding bankruptcy claims.
BTW, Smith, I think that you're a retiree of a police or fire department — the folks who ARE responsible
for local governments being mowed down by
pension liabilities.
The primary reason
for Detroit's bankruptcy was unfunded
pension liability.
That's the amount of future
liabilities owed by NYSUT to the union's staff members, primarily
for pension and health care costs, according to a report recently filed by the union.
The report shows that when fully accounting
for pension and health cost
liabilities, regular public schools cost $ 19,822 to $ 20,283 per student.
Garcia, by contrast, has appeared shaky in explaining how he'd pay
for millions of dollars in new spending that he says would even Chicago's socioeconomic playing field — let alone how he'd deal with the city's $ 20 billion in unfunded
pension liabilities.
The unfunded
liability for future public sector
pensions is # 1.1 trillion and rising.
Soaring
pension obligations resulting from contracts won by politically influential public employees» unions have become a financial
liability for state and many local governments.
Heastie called
for closure of the so - called limited
liability company loophole, «limiting big money in politics,» and
pension forfeiture
for lawmakers convicted of felonies.
Good government groups see the
pension forfeiture measure as a token reform and have pressed
for the closing of the «LLC loophole» that allows businesses to create multiple limited
liability companies to donate virtually unlimited amounts of campaign cash; public financing of candidate campaigns; the end of lump sum appropriations in the budget; limits on political contributions by companies with business before the state; limits on legislators» outside income; and a renovation of Albany's ethics watchdog, the Joint Commission on Public Ethics (JCOPE).
Weller and Baker (2005) suggest a buffer of 20 percent of
liabilities, which could be even smaller
for state DB
pension plans, since states can not go bankrupt.
However, even this is inadequate; the portion of salary required to pay
for pension wealth accruals of current teachers and to pay off the unfunded
liability is 31.3 percent.
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.
Conversion specifics will vary by state; obviously, those with huge unfunded
liabilities will have a tougher time finding an elegant solution to converting past
pension obligations
for teachers nearing vesting milestones.
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?
(Note that the National Center
for Education Statistics» calculation of total per pupil expenditures excludes unfunded
pension liabilities.
With an in - house team of two or more ICT support technicians working alongside a network manager, then it's likely that you're paying too much
for your IT staff costs, especially when you consider the ever - increasing National Insurance and
pension liabilities.