Lawsuits have been recently filed against the pension plans for MetLife, American Airlines, Pepsico, and US Bankcorp. The lawsuits allege that each of these plans use unreasonable actuarial assumption for either reducing the benefit for early payment or converting the benefit to a Joint & Survi…Continued
The IRS recently issued Notice 2019-18 which may allow plan sponsors to provide current retirees the option to convert their annuities to lump sums without having to terminate the plan. This adds another risk management tool to plan sponsors’ risk management toolbox. While this may be a good stra…Continued
Bolton’s senior actuaries lent their time and expertise to educating attendees at the April 2019 Enrolled Actuaries Meeting.Ellen Kleinstuber, Bolton’s Chief Actuary, was the chair of the 2019 meeting. She moderated the opening general session panel on Reading the Tea Leaves: Where is Retirement Po…Continued
Tom Vicente has joined the firm as a Senior Consulting Actuary in our Bolton Retirement division. Mr. Vicente has over 30 years of experience delivering comprehensive employee benefit plan and consulting, actuarial and plan administration services to a wide variety of plan sponsors, including gover…Continued
What is a DROP?First, let’s start by defining a DROP. A DROP is an option provided to active participants of certain retirement plans. It allows members who elect DROP the option to continue to work beyond their Normal Retirement Date and convert part of their retirement benefit into a lump sum.The…Continued
In total, Living Classrooms Foundation were able to give away 405 complete Thanksgiving meals to families in Baltimore City - each meal included a turkey plus a bag of other necessary food/ingredients. If each complete meal serves 8 people, this means the joint effort from various organizations pro…Continued
