Deals and People January 3, 2013

Segal Rogerscasey Adds Two Consultants

January 3, 2013 (PLANSPONSOR.com) - Segal Rogerscasey hired two consultants.
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Keith Reynolds joined the Atlanta office as a senior consultant, and Richard Pietrzak rejoined Segal Rogerscasey’s Cleveland office as a consultant.

Reynolds has more than a decade of investment consulting experience with Mercer Investment Consulting and Morgan Stanley. He served as lead consultant for defined benefit and defined contribution retirement plans sponsored by large corporations, foundations, law firms, hospitals and universities.

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Reynolds manages all aspects of the consulting relationship including monitoring investment programs, developing investment policies and objectives, conducting manager searches and performing portfolio structure and asset allocation studies. He holds an MBA in Finance from Mercer University and a BA in accounting from Berry College.

Pietrzak served as vice president for PNC Institutional Investments. He holds an MBA in Finance from John Carroll University and a BBA in Finance from Cleveland State University.

Pietrzak is a member of the CFA Institute.

Administration January 3, 2013

Record Year-End Pension Deficit for S&P 1500

January 3, 2013 (PLANSPONSOR.com) – S&P 1500 plan sponsors finished 2012 with the highest year-end pension deficit ever.
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The aggregate deficit in pension plans sponsored by S&P 1500 companies increased by $73 billion to a record year-end high of $557 billion as of December 31, 2012, according to Mercer. This deficit compares to an aggregate pension deficit of $484 billion on December 31, 2011. While the December 31, 2012, funded ratio of 74% rebounded from a record low of 70% as of July 31, 2012, overall the ratio declined from the 75% funded ratio seen at December 31, 2011.    

Despite overall positive annual asset growth of approximately 16% in the broad U.S. equity market, falling interest rates were once again the story for the funding status of pension plans as discount rates fell by more than 80 basis points as compared to year-end 2011.  

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For many companies, a larger pension deficit will drive higher profit and loss (P&L) expense, and decreased earnings in 2013.

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