Defined Benefits

But don't call it a defined benefit plan. Call it guaranteed lifetime income. That's what the surveys say employees are asking for now. And start the messaging today.

All employers should be concerned when public service employees are anxious about their financial security because their jobs are essential and these worries can impact their ability to do their job, says a new report.

Particularly new hires, whose defined benefit plans are likely to be less generous than their longer-tenured co-workers, are not preparing adequately for retirement, says report.

To date, the federal program, which provides funding to severely underfunded multiemployer pension plans, has approved over $7.7 billion to plans that cover over 154,000 workers, retirees, and beneficiaries.

From desirable property tax rates and affordable public transportation to well-reviewed retirement homes and low monthly Medicare premiums, these big burgs are the cream of the crop.

A resolution was adopted to restrict the use of sustainable factors in making investment decisions in the Florida Retirement System defined benefit plan.

In 2021, approximately 420 PRT cases (representing around $30 billion) was replaced with insurers.

Ensuring a company gets the highest possible return on its hefty investment in employee benefits is critical.