Contributions to multiemployer defined benefit pension plans
have been a mainstay, legacy feature of union negotiations in many industries.
To many, the GE case embodies all that is wrong with accounting for defined benefit pension plans
. GE reports a $2 billion dollar increase in income due to its pension plan, despite the fact that plan assets have lost more than 5% of their value.
A pay-related, defined benefit pension plan
specifies a determinable pension benefit for retirees based on age, years of service, and salary.
Nearly 30 percent of uniformed employees who participated in a defined benefit pension plan
had a terminal earnings formula flat rate of 2.5 percent of earnings or higher.
Summary of Cumulative Prediction Errors (in Percent) for the Sample of 137 Overfunded Defined Benefit Pension Plan
Termination Events: 1975-1986.
is the infrastructure management arm of OMERS, the defined benefit pension plan
for municipal employees in the Province of Ontario, Canada.
23%: The percentage of North American defined benefit pension plan
professionals who consider transferring plan liabilities to a third-party insurer this year.
Said to include wage increases, improvements to benefits and maintenance of the defined benefit pension plan
for current Air Canada workers, the agreement does not included defined benefit pension plan
for new hires.
Under the defined benefit pension plan
the employer guarantees a specified benefit at "normal retirement age." Based upon actuarial calculations the employer is required to maintain a level of "minimum funding" such as will assure that funds will be available to pay this guaranteed retirement benefit.
The bankrupt carrier received permission to terminate its pilot defined benefit pension plan
Instead of a defined benefit pension plan
where employees know what they get when they retire, the company is developing a time contribution plan.
R and J each maintained a defined benefit pension plan
for their hourly workers; those plans were the products of collective bargaining with the steelworkers' union.