While there are nuances, I consider a target-benefit plan to be one that determines benefits to members on a defined benefit basis while setting out employer contributions on a defined contribution basis. To allow for that mix, target-benefit plans permit benefit reductions when contributions fall short. My goal is to share what I consider an […]
Conduent Inc. is selling its consulting business formerly known as Buck Consultants. This week, the company announced a deal with a private equity investment firm, H.I.G. Capital, to sell its Canada- and Britain-based human resources consulting and outsourcing businesses. The deal also includes Conduent’s U.S.-based human resources consulting and actuarial business. The business, formerly known […]
GroupHEALTH Benefit Solutions has appointed Gary Walters as senior vice-president of underwriting. In the new role, Walters will be based out of GroupHEALTH’s Barrie, Ont. office, and will oversee underwriting projects for all of GroupHEALTH’s companies across Canada, which also include offices in Vancouver, Surrey, B.C., Edmonton and Etobicoke, Ont. Read: GroupHEALTH partners with GMS Insurance […]
The Canadian Institute of Actuaries has published a new mortality improvement scale as part of an effort to better reflect Canadians’ increased longevity and harmonize actuarial work in the pension and life insurance industries. The organization put together a task force to look into mortality improvement last year and, following a consultation process, issued a report in September. The report provided […]
Malcolm Hamilton's history of DB mistakes and why targeted benefit plans are a solution.