Thoughtful workforce transitions in higher education
One way higher education institutions are responding to financial challenges caused by the COVID-19 pandemic is to rethink their staffing models and reduce faculty and staff costs.
The COVID-19 pandemic has created economic uncertainty, and this article offers helpful guidelines for corporate pension plan sponsors based on past experience and the market data already in the books through the first quarter of 2020. It also addresses the likely effects on pension expense and funded status, and also discusses the impact of the CARES Act on required cash contributions in calendar year 2020.
This article was originally published by American Society of Pension Professionals and Actuaries.