Products March 24, 2006

Hueler Unveils Stable Value Databank

March 24, 2006 (PLANSPONSOR.com) - A Minneapolis company has unveiled a no-cost Web-based stable value data service aimed at plan fiduciaries.
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A news release from Hueler Companies said Analytics 4-U is set to be released soon via the company’s  hueler.com Web site.

According to the announcement, plan fiduciaries will be able to access aggregate statistical data and indices used by the majority of investment managers in the stable value industry.  Analytics 4-U provides access to universe data, such as, portfolio composition, credit quality, duration, sector allocation, index returns and other data.

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“We intend to ensure that all fund fiduciaries are able to properly carry out their oversight duties relative to the stable value investment option, including monitoring their fund manager over time against a relevant peer universe,” said President Kelli Hueler, in the news release.

The news release said that for the past several years Hueler has tried to encourage consultants to service their plan sponsor clients directly, but in most cases has found the consulting community unwilling to utilize appropriate benchmarks and valid peer universe data. 

Hueler Companies is a technology and research firm offering resources for the analysis, research and implementation of stable value and annuity products.  To register for Analytics 4-U, go to the company Web site.

Benefits March 23, 2006

British Airways Makes Proposal to Erase Pension Deficit

March 23, 2006 (PLANSPONSOR.com) - British Airways has said it will clear its 1.4 billion pound pension plan deficit through a combination of higher retirement ages, a slower accrual rate and a cap on increases.
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Reuters reports that once the company’s proposal is accepted, it has said it will make a payment of 500 million pounds into the pension fund. The proposal must be approved by unions and pension trustees.

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However, according to a news report, the Transport and General Workers Union said it would resist the changes. National officer Brendan Gold said in the news report, “The proposal as presented to the T&G is both unfair and unacceptable and does not represent a starting point for negotiations. BA is a profitable company not one in crisis. It must be remembered the pensions are deferred earnings.” The British Airline Pilots Association (BAPA) also said it had several concerns about the proposal.

The retirement age for cabin crew would rise to 65 from 55 and for pilots to 60 from 55, under changes to the way pension benefits will be calculated, according to Reuters. In addition, pension increases would be capped at 2.5% each year, and pensionable pay increases would be no more than inflation, under the proposal.

BAPA made it clear at the beginning of company talks regarding the pension plan that it would not accept a proposal to increase pension participants’ contributions to the plan (See British Airline Pilots Fight Pension Contribution Increase ).

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