In a new analysis of cash balance plans, October Three, a Chicago-based actuary firm, identified more than 50 ways sponsors apply the interest credit rates, or ICRs, to participants' accounts. (Photo: Shutterstock)
Cash balance plans, a form of defined benefit pension that emerged in the 1990s, have been used in combination with — and in lieu of — traditional pension plans to keep guaranteed income promises flowing to workers.
Most commentary from lawmakers on the state of the country's retirement system begins with a reflexive noting of the decline in traditional pensions.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
