|By PR Newswire||
|January 7, 2014 02:00 PM EST||
SEATTLE, Jan. 7, 2014 /PRNewswire/ -- Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which consists of 100 of the nation's largest defined benefit pension plans. In December, these plans experienced a $10 billion increase in asset value and a $10 billion decrease in pension liabilities, powering a $20 billion improvement in pension funded status. The improvement drove the pension funded status deficit down to $73 billion at year end, culminating a year that saw $318 billion in funded status improvement.
"This was the first win-win year for pensions since 2007, with assets improving by $128 billion and liabilities decreasing by $190 billion," said John Ehrhardt, co-author of the Milliman Pension Funding Index. "Just to put this rally in perspective: These pensions saw a $337 billion decrease in funded status in 2008, and in the past year we saw a $318 billion improvement. These plans' performance in 2013 nearly erased the losses of 2008. We are getting back on track."
Looking forward, if the Milliman 100 pension plans were to achieve the expected 7.5% median asset return for their pension portfolios, and if the current discount rate of 4.83% were maintained, funded status would improve, with the funded status deficit turning positive (100.9% funded ratio) by the end of 2014 and a surplus of $106 billion (106.8% funded ratio) accumulating by the end of 2015.
Milliman is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. For further information, visit www.milliman.com
About the Milliman 100 Pension Funding Index
For the past 13 years, Milliman has conducted an annual study of the 100 largest defined benefit pension plans sponsored by U.S. public companies. The Milliman 100 Pension Funding Index projects the funded status for pension plans included in our study, reflecting the monthly impact of market returns and interest-rate changes on pension funded status, utilizing the actual reported asset values, liabilities, and asset allocations of the companies' pension plans.
The results of the Milliman 100 Pension Funding Index were based on the actual pension plan accounting information disclosed in the footnotes to the companies' annual reports for the preceding fiscal year and for previous fiscal years. In addition to providing the financial information on the funded status of U.S. qualified pension plans, the footnotes may also include figures for the companies' nonqualified and foreign plans, both of which are often unfunded or subject to funding standards different from those for U.S. qualified pension plans. The results do not represent the funded status of the companies' U.S. qualified pension plans under ERISA.
SOURCE Milliman, Inc.
Software is eating the world. Companies that were not previously in the technology space now find themselves competing with Google and Amazon on speed of innovation. As the innovation cycle accelerates, companies must embrace rapid and constant change to both applications and their infrastructure, and find a way to deliver speed and agility of development without sacrificing reliability or efficiency of operations. In her Day 2 Keynote DevOps Summit, Victoria Livschitz, CEO of Qubell, discussed...
May. 5, 2015 06:00 AM EDT Reads: 4,744
Shipping daily, injecting faults, and keeping an extremely high availability "without Ops"? Understand why NoOps does not mean no operations. Agile development methodologies require evolved operations to be successful. In his keynote at DevOps Summit, David Tesar, Microsoft Technical Evangelist on Microsoft Azure and DevOps, will discuss how Microsoft teams who have made huge progress with a DevOps transformation effectively utilize operations staff and how challenges were overcome. Regardless ...
May. 5, 2015 05:00 AM EDT Reads: 892
SYS-CON Events announced today that WSM International (WSM), the world’s leading cloud and server migration services provider, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. WSM is a solutions integrator with a core focus on cloud and server migration, transformation and DevOps services.
May. 5, 2015 04:45 AM EDT Reads: 2,360
SYS-CON Events announced today that FierceDevOps will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. FierceDevOps keeps software developers and IT operations personnel updated on the latest news and trends around the rapidly evolving role of the traditional IT worker.
May. 5, 2015 04:30 AM EDT Reads: 2,434
SYS-CON Events announced today that SafeLogic has been named “Bag Sponsor” of SYS-CON's 16th International Cloud Expo® New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. SafeLogic provides security products for applications in mobile and server/appliance environments. SafeLogic’s flagship product CryptoComply is a FIPS 140-2 validated cryptographic engine designed to secure data on servers, workstations, appliances, mobile devices, and in the Cloud....
May. 5, 2015 04:15 AM EDT Reads: 2,458
SYS-CON Events announced today that Akana, formerly SOA Software, has been named “Bronze Sponsor” of SYS-CON's 16th International Cloud Expo® New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Akana’s comprehensive suite of API Management, API Security, Integrated SOA Governance, and Cloud Integration solutions helps businesses accelerate digital transformation by securely extending their reach across multiple channels – mobile, cloud and Internet of Thi...
May. 5, 2015 04:00 AM EDT Reads: 2,427
SYS-CON Events announced today that Plutora, Inc., the leading global provider of enterprise release management and test environment management SaaS solutions, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Headquartered in Mountain View, California, Plutora provides enterprise release management and test environment SaaS solutions to clients in North America, Europe and Asia Pacific. Leading companies ...
May. 5, 2015 03:45 AM EDT Reads: 2,323
SYS-CON Events announced today that Open Data Centers (ODC), a carrier-neutral colocation provider, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Open Data Centers is a carrier-neutral data center operator in New Jersey and New York City offering alternative connectivity options for carriers, service providers and enterprise customers.
May. 5, 2015 03:30 AM EDT Reads: 3,231
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet conditions, Dyn ensures...
May. 5, 2015 03:15 AM EDT Reads: 2,947
SYS-CON Events announced today that Vicom Computer Services, Inc., a provider of technology and service solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. They are located at booth #427. Vicom Computer Services, Inc. is a progressive leader in the technology industry for over 30 years. Headquartered in the NY Metropolitan area. Vicom provides products and services based on today’s requirements...
May. 5, 2015 03:00 AM EDT Reads: 2,495
BlueBox bridge the chasm between development and infrastructure. Hosting providers are taking standardization and automation too far. For many app developers it does nothing but spawn mayhem and more work. They have to figure out how their creations live on a pre-fab infrastructure solution full of constraints. Operations-as-a-Service is what BlueBox does. BlueBox utilizes development tools such as OpenStack, EMC Razor, Opscode’s Chef and BlueBox's proprietary tools give the power to do the unor...
May. 5, 2015 03:00 AM EDT Reads: 1,873
This builds on Puppet Labs' first class Windows support, including native .MSI packages for x32 and x64 operating systems, modules to extend common Windows server management tools, including Powershell, and integrations with Microsoft Azure and Visual Studio. By automating common Windows administration tasks, Puppet Labs is enabling users to adopt DevOps practices, thereby reducing the time needed to deploy applications from weeks to hours.
May. 5, 2015 03:00 AM EDT Reads: 2,266
What’s inside the cloud? Hard work. Cloud operators know the world inside the datacenter is gritty. Vendor marketing speak and cloudwashing quickly melt in the heat of SLAs, uptime guarantees, and users who want it now. In his session at DevOps Summit, Hernan Alvarez, Chief Product Officer at Blue Box Group, will deliver an unvarnished look inside the world of cloud operators, from the perspective of someone who lives it. Attendees get a front-row look into the toolkits and processes that enabl...
May. 5, 2015 02:45 AM EDT Reads: 2,072
Application metrics, logs, and business KPIs are a goldmine. It’s easy to get started with the ELK stack (Elasticsearch, Logstash and Kibana) – you can see lots of people coming up with impressive dashboards, in less than a day, with no previous experience. Going from proof-of-concept to production tends to be a bit more difficult, unfortunately, and it tends to gobble up our attention, time, and money. In his session at DevOps Summit, Otis Gospodnetić, co-author of Lucene in Action and founder...
May. 5, 2015 02:45 AM EDT Reads: 2,221
We are all here because we are sold on the transformative promise of The Cloud. But what good is all of this ephemeral, on-demand infrastructure if your usage doesn't actually improve the agility and speed of your business? How must Operations adapt in order to avoid stifling your Cloud initiative? In his session at DevOps Summit, Damon Edwards, co-founder and managing partner of the DTO Solutions, will highlight the successful organizational, process, and tooling patterns of high-performing c...
May. 5, 2015 02:30 AM EDT Reads: 4,389