Richard Jones looks at the burden of regulation on smaller DB schemes and says advisers should talk to business owner clients about their options in relation to final salary pensions.
Special to The News
Courtesy Photo/St. Ignace News
This 1998 photo from the St. Ignace News archives shows then-Mackinac Bridge Authority Executive Director Hank Lotoszinski shaking hands with Northeast Michigander Dan Gilmet after he was the 100-millionth driver to cross the Mackinac Bridge.
MACKINAW CITY The five-mile, 64-year-old Mackinac Bridge spanning Michigan’s Lower and Upper peninsulas offers a variety of interesting stories.
At least twice, aircraft flew under the bridge, just above the water line: A 2020 flight involved a private aircraft, while the other was a U.S. Air Force six-engine B-47 nuclear bomber.
In 1989 came the tragic story of a Royal Oak resident’s small Yugo subcompact caught by a wind gust, lifting the small vehicle over the bridge’s cable system and into the waters 200 feet below.
DB scheme consolidator Stoneport hopes to get 100 schemes signed up by the end of next year, but employer covenant will be vital, chief executive Richard Jones tells James Phillips.