Our research finds that the utility industry1 continues to sponsor retirement programs with significant, material, and growing obligations. Substantial variation exists in the management of these programs across all the key levers—funding, investment, design, liability management, and actuarial assumptions and methods.
The focus of this report is on the financial management of retirement programs within the utility industry. This report is intended to be a complement to our March 2019 report, which focused on retirement plan design within the utility industry.
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1 In this report, “utility industry” refers to S&P 500 electric and gas utilities as summarized on page 4 of the full report, unless otherwise noted. The source of the information presented is PBGC filings, Aon
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