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De-risking

Think you’re better off with a lump sum over a monthly pension? Think again.

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NCR Corp. Lockheed Martin and packaging firm RockTenn are among the growing number of employers who in recent years have hit tens of thousands of their workers and retirees with an enticing offer: to accept lump sum payouts, often well into six figures, in lieu of monthly pension payments.

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Why more companies want pensions off their books

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Verizon has done it. General Motors has done it. And so have Ford and, recently, ketchup kingpin Heinz. These brand-name companies have all moved part of their pension obligations off their books and into annuities run by insurance companies.

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IRS Private Letter Rulings Add Fuel to Fire On Lump-Sum Offers, De-Risking Debate

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Five recent Internal Revenue Service private letter rulings allowing defined benefit plans to offer lump-sum benefit distributions to participants already receiving benefits are likely to encourage more employers to jump on the de-risking bandwagon, especially at a time when many employers are expressing interest in decreasing the impact of plan risks on their balance sheets.

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The Great Pension Sell-Off: Should you take a lump sum or an insurer's annuity?

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Carl Monheit's former employer reliably mailed his monthly check to him for 17 years. A year and a half ago things changed. The Hackensack, New Jersey, resident, along with thousands of other retired managers, learned he would no longer be part of Verizon's pension plan. Instead, the telecommunications giant bought them an annuity.

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Your Company Just Tossed a Pension Hot Potato in Your Lap. What Do You Do?

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If you're lucky enough to have a claim on the $3 trillion-plus sitting in old-fashioned corporate pension plans, your retirement planning may soon get more complicated.

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Heinz 'derisks' pension plan

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Food company wants obligation off of its books

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Company pension plans are healthier, but they're still dying

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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.

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Private sector pension de-risking and participant protections

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On Nov. 5, 2013, the ERISA Advisory Council submitted findings and recommendations on pension de-risking to the Secretary of Labor. Pension de-risking transactions have received a lot of attention lately, both in the media and among sponsors of defined benefit pension plans.

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Companies Prepare To Dump Pension Plans In 2014

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Will your defined benefit pension be the next to be “derisked” and then dumped? Clorox froze its defined benefit pension plan in 2011, and now it’s taking steps to prep the plan in case the fiduciary committee decides to offload it onto an insurer, according to a Clorox executive who spoke at a recent Mercer webcast on pension derisking.

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Plan Sponsor De-Risking Likely to Continue Even With Higher Funding, Practitioners Say

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The recent upswing in defined benefit plan funding levels might encourage plan sponsors to take some major steps to de-risk their plans.

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