Actuarial Outpost
 
Go Back   Actuarial Outpost > Actuarial Discussion Forum > Pension - Social Security
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions


Fill in a brief DW Simpson Registration Form
to be contacted when new jobs meet your criteria.


Reply
 
Thread Tools Search this Thread Display Modes
  #11  
Old 03-28-2014, 12:30 PM
Wag, the Dog Wag, the Dog is offline
Member
SOA
 
Join Date: Jan 2002
Location: Rust belt
College: Purdue
Posts: 965
Default

Millard was an idiot



Millard is an idiot



Millard will always be an idiot
__________________
IANA ...
Reply With Quote
  #12  
Old 03-28-2014, 01:47 PM
campbell's Avatar
campbell campbell is offline
Mary Pat Campbell
SOA AAA
 
Join Date: Nov 2003
Location: NY
Studying for duolingo and coursera
Favorite beer: Murphy's Irish Stout
Posts: 82,024
Blog Entries: 6
Default

I didn't say I agreed with his message.

But I loved this bit specifically:

Quote:
The threat to the PBCG does not come from underfunded pension plans. It comes from underfunded pension plans in companies that go bankrupt.
No, really?
__________________
It's STUMP

LinkedIn Profile
Reply With Quote
  #13  
Old 04-01-2014, 10:08 AM
campbell's Avatar
campbell campbell is offline
Mary Pat Campbell
SOA AAA
 
Join Date: Nov 2003
Location: NY
Studying for duolingo and coursera
Favorite beer: Murphy's Irish Stout
Posts: 82,024
Blog Entries: 6
Default

JAPAN

http://www.reuters.com/article/2014/...0MS0Z620140331

Quote:
* Employees' pension funds seen selling a few trillion yen
in stocks
* Some appear to have already started selling stocks
* Selling adds to pressure on recently sluggish Japan
equities

By Tomo Uetake and Hideyuki Sano
TOKYO, March 31 (Reuters) - Japan's corporate pension funds
are expected to sell down a few trillion yen of shares in the
coming years as the government pushes for reform of their
struggling operations, and some appear to have already begun
selling this month, market participants say.
This selling is putting additional strain on Japanese
equities, which have been already hit by growing disappointment
among foreign investors over a lack of economic reforms. And it
runs counter to the aim of Prime Minister Shinzo Abe for more
pension money to go towards the domestic share market.
"Pension funds are hoping to sell stocks when the markets
are good. Their selling is likely to increase in April," said
Masatoshi Kikuchi, chief equity strategist at Mizuho Securities.
http://ai-cio.com/channel/NEWSMAKERS...mic__Plan.html

Quote:
(April 1, 2014) -- The largest investors in Japan have started to shed their domestic equity holdings, hurting Prime Minister Shinzo Abe’s plans for their capital to help the country’s economy recover.

Last week, Reuters reported these pension funds, which have more than $170 billion in combined assets, had started selling their equity holdings before the end of the tax year, which begins today.

Yesterday these investors continued the pattern, the news agency reported, citing sources within the country’s financial markets who were concerned they were moving too fast, too soon to fit with a scheduled retreat from relatively risky assets.

The start of the tax year brings reforms for corporate pension plans that are designed to sharpen up their investment strategies and get them in to good health. They have been given five years to improve or close.

Despite equity markets sinking over recent months—in the first quarter of the year, the Nikkei lost 9%—these investors still decided to sell, market participants said.

“Trust banks tend to buy for rebalancing when the market is down. So we need to think something abnormal was happening," Kenji Shiomura, senior strategist at Daiwa Securities told Reuters. "It's likely to be pension funds' selling. We could see more such selling in coming weeks.”
....
These moves could be damaging for the Japanese Prime Minister’s plan to shore up the country’s equity markets with pension cash. Moving large amounts of capital into the Nikkei should provide a boost that would attract other investors.


__________________
It's STUMP

LinkedIn Profile
Reply With Quote
  #14  
Old 04-01-2014, 10:32 AM
campbell's Avatar
campbell campbell is offline
Mary Pat Campbell
SOA AAA
 
Join Date: Nov 2003
Location: NY
Studying for duolingo and coursera
Favorite beer: Murphy's Irish Stout
Posts: 82,024
Blog Entries: 6
Default

THE NETHERLANDS

http://www.dutchnews.nl/news/archive...on_funds_h.php

Quote:
Some 20 of the 50 biggest Dutch corporate pension schemes have switched from guaranteed pension payouts to a defined contributions scheme, the Financieele Dagblad says on Monday.

Many other companies are making preparations to change as well, Tim Burggraaf of advisory group Mercer told the paper.

ING, Rabobank and AkzoNobel are among the firms which have made the switch, the paper says. A move from defined benefits to defined contributions means workers carry more of the risk, the paper says.

- See more at: http://www.dutchnews.nl/news/archive....AGAV1FS9.dpuf
__________________
It's STUMP

LinkedIn Profile
Reply With Quote
  #15  
Old 04-02-2014, 03:18 PM
campbell's Avatar
campbell campbell is offline
Mary Pat Campbell
SOA AAA
 
Join Date: Nov 2003
Location: NY
Studying for duolingo and coursera
Favorite beer: Murphy's Irish Stout
Posts: 82,024
Blog Entries: 6
Default

http://www.washingtonpost.com/busine...7af_story.html

Quote:
NEW YORK — New rulings against Catholic hospital chains on both coasts have intensified a faceoff between religiously affiliated employers and workers who are alarmed by the companies’ efforts to avoid insuring or funding their pensions.

A federal judge in New Jersey ruled Monday that a loophole in federal pension law exempting churches does not extend to hospitals and other employers not directly controlled by religious orders. The opinion, echoing one issued in December in a case involving a California hospital chain, allows an employee’s lawsuit to move forward against the New Jersey operator, St. Peter’s Healthcare System.

....
A pension boils down to a promise. Federal law requires most private employers with pension plans to contribute to them and insure them in case they can’t meet their obligations. But Congress crafted an exemption for churches to protect them from government interference in their finances. Hospitals and other religiously affiliated employers have cited that exemption to convert their pensions to “church plans,” including some that have let retirement funds dwindle.

“Opening the door to expand the church-plan exemption to this extent would place more employees at risk of having insufficient benefits upon retirement,” U.S. District Judge Michael A. Shipp wrote in the opinion issued Monday, denying St. Peter’s request to dismiss the case.

.....
The suits are among six brought on behalf of workers against five Catholic hospital chains and another filed last month against Advocate Health Care Network, based in Downers Grove, Ill., which operates 12 hospitals in its home state and is affiliated with the United Church of Christ and the Evangelical Lutheran Church in America.

The rulings by the courts in New Jersey and California, while preliminary, expose the tension built in to a law that is simultaneously trying to protect the finances of workers and churches, said Thomas E. Clark Jr. of FRA Plan Tools, a consultant to investment advisers and other pension service providers. Clark said the rulings would likely give pause to other employers considering shifting their pensions to church plans.

__________________
It's STUMP

LinkedIn Profile
Reply With Quote
  #16  
Old 04-02-2014, 03:19 PM
campbell's Avatar
campbell campbell is offline
Mary Pat Campbell
SOA AAA
 
Join Date: Nov 2003
Location: NY
Studying for duolingo and coursera
Favorite beer: Murphy's Irish Stout
Posts: 82,024
Blog Entries: 6
Default

http://www.reuters.com/article/2014/...A301GP20140401

Quote:
(Reuters) - This should be good news: At a time when worry about the retirement security of American workers is rising, traditional pension plans finished 2013 in their best shape last year since the financial crisis of 2008. Yet that may only be setting the table for more corporations to stop offering them.

The funding deficit of the 100 largest pension plans sponsored by publicly traded U.S. corporations plunged 57 percent in 2013, to $125.9 billion in the year-ago period, according to Towers Watson, the benefits consulting firm. (Funding is a measure of the assets that plans have on hand to pay projected obligations to beneficiaries.)

....
But that may just spur a new round of corporate pension "de-risking" - industry jargon for decisions by plan sponsors to terminate or freeze plans, or transfer the obligations to insurance companies, which replace pensions with commercial annuities. De-risking becomes less costly as plan health improves.

"It's all I hear from chief financial officers - ‘How do we get rid of pensions?' " says Karen Friedman, executive vice president and policy director of the Pension Rights Center, a non-profit advocacy group.

The slide in defined-benefit coverage is nothing new in the corporate sector. Although most public-sector workers still have traditional pensions, just 35 percent of Fortune 1000 corporations had active plans in 2011, down from 59 percent in 2011, according to Towers Watson.

...uh......
__________________
It's STUMP

LinkedIn Profile
Reply With Quote
  #17  
Old 04-02-2014, 03:53 PM
tommie frazier tommie frazier is offline
Member
 
Join Date: Aug 2003
Favorite beer: The kind with 2 e's
Posts: 22,643
Default

guessing that was 2001 to 2011? i doubt it dropped that far in one year. or within the same year as printed.
__________________
Removed a dated athletic reference under pressure from a friend. You can still give money to help fund research on neurofibromatosis (nf).

General info at www.ctf.org

Team donation page here.
Reply With Quote
  #18  
Old 04-02-2014, 04:26 PM
campbell's Avatar
campbell campbell is offline
Mary Pat Campbell
SOA AAA
 
Join Date: Nov 2003
Location: NY
Studying for duolingo and coursera
Favorite beer: Murphy's Irish Stout
Posts: 82,024
Blog Entries: 6
Default

Yes, I'm assuming it was a typo
__________________
It's STUMP

LinkedIn Profile
Reply With Quote
  #19  
Old 04-13-2014, 02:32 PM
Don Quijote Don Quijote is offline
Member
 
Join Date: Sep 2001
Posts: 1,327
Default

http://dealbook.nytimes.com/2014/04/...eter-and-fall/

Multi-employer plans are in bad shape, surprising no actuary ever.

Quote:
Originally Posted by from some guy with one (former) member in the plan
“What are we supposed to do?” he said. “That was our retirement. Now we owe everything to the Teamster fund.” Bankruptcy was not an option, so he arranged a 20-year payment plan with Central States.

“They lost a union company,” he said, “because we’re never going to have another Teamster again.”
Reply With Quote
  #20  
Old 04-13-2014, 02:40 PM
campbell's Avatar
campbell campbell is offline
Mary Pat Campbell
SOA AAA
 
Join Date: Nov 2003
Location: NY
Studying for duolingo and coursera
Favorite beer: Murphy's Irish Stout
Posts: 82,024
Blog Entries: 6
Default

I haven't bumped my MEP watch lately. Thanks for the link.
__________________
It's STUMP

LinkedIn Profile
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 04:11 PM.


Powered by vBulletin®
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.27716 seconds with 10 queries