Meg Waters is the editor in chief of Treasury & Risk. She is the former editor in chief of BPM Magazine and the former managing editor of Business Finance.
IBM's recent announcement that it is switching to a "hybrid" model of defined-benefit plan could make the case that bringing back a modern take on the classic retirement benefit could support retention in a tight labor market.
Upward revisions to third-quarter numbers for business investment and government spending show that the U.S. economy grew even faster than originally estimated.
Gross domestic product (GDP) rose at an upwardly revised 5.2 percent annualized pace in the third quarter, the fastest in nearly two years. Consumer spending advanced at a less-robust 3.6 percent rate, according to the government's second estimate of the figures issued today.
The ERISA Industry Committee, which represents the largest employers in the U.S., is calling on Congress to re-examine the premiums paid by companies that sponsor defined-benefit plans.
In a report released earlier this month, the agency revealed it recovered $4.9 billion in overpayments but still has a $23 billion uncollected overpayment balance, despite repeated attempts to contact beneficiaries.