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Milliman analysis: Corporate pension funded status rises to 105.6% at end of March

Retrieved on:

Thursday, April 4, 2024

Professional Services, Insurance, Finance, Asset Management, Consulting, Accounting, PFI, Milliman, Fed, Pension fund

Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Milliman 100 Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans.

Key Points:

Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Milliman 100 Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans.
During March, the Milliman 100 PFI funded ratio rose from 105.3% at the end of February to 105.6% as of March 31.
“Pension funded status improved for all three months of the first quarter, and strong market returns helped to offset the effect of March’s discount rate declines,” said Zorast Wadia, author of the PFI.
The 2024 Milliman Corporate Pension Funding Study will be released later this month.

Mad Capital Launches $50 Million Perennial Fund II to Scale Regenerative Organic Agriculture in US

Retrieved on:

Wednesday, March 20, 2024

Mad Capital launched its Perennial Fund II (PFII) to provide farmers in the United States with tailored loans that help them transition to regenerative organic farmland while also increasing farmer profits.

Key Points:

Mad Capital launched its Perennial Fund II (PFII) to provide farmers in the United States with tailored loans that help them transition to regenerative organic farmland while also increasing farmer profits.
"Mad Capital is playing an integral role in the transition to regenerative organic agriculture.
Launched in 2019, Mad Capital has been actively lending to regenerative organic farmers for five years.
The PFII brings Mad Capital closer to its ultimate goal of financing 5,000,000 acres of regenerative organic farmland by the end of 2032.

Milliman analysis: Corporate pension funded status continues to climb, hits 104.9% at end of February

Retrieved on:

Friday, March 8, 2024

Professional Services, Data Analytics, Insurance, Human Resources, Finance, Consulting, Accounting, Milliman, PFI, Pension fund

Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Milliman 100 Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans.

Key Points:

Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Milliman 100 Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans.
During February, the Milliman 100 PFI funded ratio rose from 102.8% at the end of January to 104.9% as of February 29.
A second straight month of rising discount rates—which increased in February by 21 basis points, to 5.35%—drove the improvement and reduced plan liabilities by $30 billion.
To receive regular updates of Milliman’s pension funding analysis, contact us at [email protected] .

Milliman analysis: Corporate pension funded status climbs to 103.1% at end of January

Retrieved on:

Wednesday, February 7, 2024

Professional Services, Data Analytics, Insurance, Human Resources, Finance, Consulting, Milliman, PFI, Movement, Pension fund

Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Milliman 100 Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans.

Key Points:

Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Milliman 100 Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans.
During January, the Milliman 100 PFI funding ratio rose from 102.1% at the end of December to 103.1% as of January 31.
A return to rising discount rates—this month by 14 basis points, to 5.14%—fueled this result and drove plan liabilities down from $1.337 trillion at the end of December to $1.316 trillion at the end of January.
Under a pessimistic forecast (4.59% discount rate at the end of 2024 and 3.99% by the end of 2025 and 1.8% annual returns), the funded ratio would decline to 95% by the end of 2024 and 86% by the end of 2025.

Prudential assumes $4.9 billion in pension obligations for 21,500 Shell U.S. retirees

Retrieved on:

Wednesday, February 7, 2024

Professional Services, Other Professional Services, Data Analytics, Insurance, Finance, Asset Management, Consulting, IBM, Multimedia, PFI, Retirement, Shell, Prudential Financial, General Motors, PRU, HP Inc., Organization

Prudential Financial, Inc. (PFI) ( NYSE: PRU ) closed a pension risk transfer transaction with Shell USA, Inc. for $4.9 billion in pension obligations covering a block of about 21,500 of the company’s U.S. retirees.

Key Points:

Prudential Financial, Inc. (PFI) ( NYSE: PRU ) closed a pension risk transfer transaction with Shell USA, Inc. for $4.9 billion in pension obligations covering a block of about 21,500 of the company’s U.S. retirees.
View the full release here: https://www.businesswire.com/news/home/20240207782372/en/
Alexandra Hyten, Head of Institutional Retirement Strategies, Prudential (Photo: Business Wire)
As a result of this transaction, PFI, through its subsidiary The Prudential Insurance Company of America, will be responsible for the pension benefit payments to these retirees beginning May 15, 2024.
“Prudential is honored to help continue meeting the retirement security needs of Shell’s retirees,” said Alexandra Hyten, head of Institutional Retirement Strategies at Prudential.
Prudential revolutionized the modern pension risk transfer market with its pioneering pension buyouts with General Motors and Verizon in 2012.

Milliman analysis: Corporate pensions close 2023 at 102.1% funded, second straight year-end with a surplus

Retrieved on:

Monday, January 8, 2024

Professional Services, Data Analytics, Human Resources, Finance, Consulting, Accounting, Milliman, PFI, Pension fund

Milliman, Inc., a premier global consulting and actuarial firm, today released the year-end results of its Milliman 100 Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans.

Key Points:

Milliman, Inc., a premier global consulting and actuarial firm, today released the year-end results of its Milliman 100 Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans.
In 2023, corporate pension funding improved by $4 billion for the year.
Rebounding equity markets, led by the technology sector, drove this result as the PFI plan assets saw cumulative annual investment returns of 9.94%.
The Milliman PFI plans closed 2023 with a surplus of $29 billion and a funded ratio of 102.1%, up from 101.9% at the end of 2022.

AM Best Affirms Credit Ratings of Prudential Financial, Inc. and Its Life/Health Subsidiaries

Retrieved on:

Friday, December 15, 2023

Concurrently, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) of PFI and all Long- and Short-Term Issue Credit Ratings (Long-Term IR; Short-Term IR) of the group.

Key Points:

Concurrently, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) of PFI and all Long- and Short-Term Issue Credit Ratings (Long-Term IR; Short-Term IR) of the group.
The outlook of these Credit Ratings (ratings) is stable.
For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

Milliman analysis: Falling discount rates erode $8 billion in corporate pension funding in November

Retrieved on:

Thursday, December 7, 2023

Professional Services, Data Analytics, Insurance, Human Resources, Consulting, Accounting, Milliman, PFI, Pension fund

Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Milliman 100 Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans.

Key Points:

Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Milliman 100 Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans.
The Milliman 100 PFI funded ratio dropped from 104.1% at the end of October to 103.2% as of November 30, driven by a substantial 65-basis-point drop in discount rates for the month.
As rates fell from 6.20% in October to 5.55% in November—the largest monthly decline since 2008—plan liabilities rose by $82 billion.
To receive regular updates of Milliman’s pension funding analysis, contact us at [email protected] .

USAID-funded TRANSFORM Project Secures Additional Private Sector Support for Antimicrobial Use Stewardship Principles, Now Includes Over 30% of Global Broiler Production

Retrieved on:

Tuesday, November 14, 2023

As part of TRANSFORM, the International Poultry Council (IPC) is driving global change within animal agriculture by uniting poultry industry associations and private sector organizations to support antimicrobial use stewardship principles that guide actions to avoid the need to use, but when needed, ensure proper use of antimicrobials.

Key Points:

As part of TRANSFORM, the International Poultry Council (IPC) is driving global change within animal agriculture by uniting poultry industry associations and private sector organizations to support antimicrobial use stewardship principles that guide actions to avoid the need to use, but when needed, ensure proper use of antimicrobials.
By adopting or endorsing the principles, organizations commit to encouraging or taking action that centers around four key points.
Second, organizations agree to adopt farm management practices that improve animal health and would reduce the need for antimicrobial use.
“By advancing science-based antimicrobial use stewardship principles, we are able to create an ecosystem where animal health improves, the need for antibiotic use decreases, and animal production increases.

PharmaForce International: Leading Oncology Companies in Europe Make Key Changes to Commercial Affairs Personnel in 2023

Retrieved on:

Wednesday, November 29, 2023

PFI, Microsoft PowerPoint, Multimedia, Sales, Intelligence, Marketing, Benchmarking, Growth, Market access, Medical science liaison, Nursing, Retail, Medicine, Oncology

Of the companies profiled in these reports, there were many noteworthy organizational changes that occurred in 2023.

Key Points:

Of the companies profiled in these reports, there were many noteworthy organizational changes that occurred in 2023.
Since the prior Oncology study from 2022, there were overall increases in the total number of Oncology Medical personnel captured in these reports.
While the Medical and Market access personnel experienced growth in the EU Oncology market, the Sales personnel did not.
Each country saw either decreases or no major changes in the total number of Oncology Sales personnel.