Vipal Monga
speaker
72 appearances
2 recordings
1 series
first heard Jun 2018
last heard Jul 2018
Vipal Monga’s voice in public audio — every appearance, attributed to the second.
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Appearances
So they can book a 35% deduction if they contribute before the mid-September deadline.
If they contribute after that, the end of September, say, they would only get a 21% deduction
So companies are really ramping up their 2017 contributions because of that.
There's a lot of companies that are really rushing in.
Companies like Verizon, Deere & Co., the maker of John Deere equipment, Kellogg, Lockheed Martin, all told, the estimate is something like $90 billion of
extra contributions this year, which would be close to a record.
Last year, there were $81 billion, which in itself was a 30% increase from the year before.
So companies really see the opportunity and they're taking advantage.
Pension math is really complicated.
But after the financial crisis, what basically happened was the
value of the assets used to fund the pension obligations collapsed.
So funds did find themselves 75 percent funded, meaning that the value of the assets couldn't cover the obligations that they had.
And this continued through eras of low interest rate for years.
And now we're finally starting to see some relief from that.
Higher interest rates really helps shrink the obligation that pension funds have.
The equity markets have been roaring along.
And then on top of that, you have all this extra money coming in through the voluntary contributions.
So they're about 90% funded on average.
Well, in theory, they do.
Basically, you have seven years to fully fund your pension plan, but it's...
Showing 41–60 of 72 · page 3 of 4
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