The Markets July 5, 2012

Pension Funding Rebounds in June

The funded status of the typical U.S. corporate pension plan rebounded 1.8 percentage points to 71.6% in June, according to the BNY Mellon Pension Summary Report.
Reported by

BNY Mellon credited the June improvement to strong equity markets in the U.S., which rose 3.9%, and in developed international markets, which increased 7%. These strong performances resulted in a 2.7% gain in assets at the typical U.S. corporate pension plan, according to the report.  

Liabilities for the typical corporate plan rose 0.1% in June, as the Aa corporate discount rate remained unchanged at 3.98%, BNY Mellon said.

Want the latest retirement plan adviser news and insights? Sign up for PLANADVISER newsletters.

 

Compliance July 5, 2012

EBSA to Hold Fiduciary Workshop in S.C.

The Department of Labor’s Employee Benefits Security Administration (EBSA) announced a workshop in South Carolina for retirement plan fiduciaries.
Reported by

 

The agency’s seminar, “Getting It Right! Know Your Fiduciary Responsibilities,” will be held September 11 in Charleston.   

Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.

Topics include:   

  • Understanding your plan and your responsibilities;   
  • Carefully selecting and monitoring service providers;   
  • Making contributions on time;   
  • Avoiding prohibited transactions; and    
  • Making appropriate disclosures to plan participants and filing annual reports to the government on time.  

More information is here.  

 

«