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Corporate DB Plan Funded Status Improves to Pre-Pandemic Levels Equity allocations gave some plans a boost, and experts anticipate new legislation will offer relief from expected higher contributions. Reported by Corporate defined benefit (DB) plan funded status improved from 86% at the end of January to 88% at the end of February, according to Insight Investment. “Through February, discount rates have risen approximately 45 bps [basis points], which has caused the liability to drop approximately 5%. Assets have remained level with the losses in fixed income due to rising rates offset by gains in the return-seeking asset portfolio,” says Kevin McLaughlin, Insight’s head of liability risk management. ....
A succinct roundup of the major M&A announcements for the first week of February. January was another record deal for mergers and acquisitions, according to DeVoe & Company’s RIA Deal Book Alert for January. There were 29 total transactions, nearly double January 2020’s figures. Below are more deals along with firm-to-firm advisor moves announced for this week: Tiger Blackwell Joins LPL Financial from Stifel, Nicolaus & Company Tiger Blackwell, founder of Blackwell Money Management in Baton Rouge, La., managed approximately $100 million at Stifel before moving to LPL’s newly launched independent employee model. J.P. Morgan Loses Executive Director Dixon Hayes to Simon Quick Advisors ....
DB Funded Status Nearly Back to Level From Beginning of Year A strong equity market rally in November gave defined benefit plan funded status a boost, but long-duration fixed income also performed well. Reported by Based on data from the top 100 defined benefit (DB) plans by liability in the S&P 500, Insight Investment estimates their current funded status to be an average 83% as of November 30. Wilshire Associates estimates that the aggregate funded ratio for U.S. corporate pension plans sponsored by S&P 500 companies increased by 1.3 percentage points month-over-month in November to end the month at 84%. November’s funded ratio resulted from a 6.3 percentage point increase in asset values partially offset by a 4.6 percentage point increase in liability values. Over longer periods, the aggregate funded ratio is estimated to have decreased by 3.1 and 5.4 percentage points year-to-date and over the trailing 12 months, respectively, primarily due to rising liabilit ....