PBGC Updates Rate Tables on Expected Retirement Age, Missing Participants Mortality Assumption
Effective date for the final rule is January 1, 2025.
Pensions
British Airways Pension Fund to Enter $425.6M Longevity Swap with MetLife, Zurich
The transaction will cover 1,100 members of the Airways Pension Scheme.
Voting Support for NYC Pension Proxy Proposals Continues to Wane
Only 21% of proposals that went to a vote were supported by shareholders, down from 35% in 2022.
Weyerhaeuser, State Street Sued in PRT Lawsuit
Timberland company sued by former employees, represented by Schlichter Bogard LLP, over a pension risk transfer it conducted with Athene in 2019.
US Pension Plans Set to Increase Contributions in 2025
Approximately 58% of plans saw an increase in funded status, while 68% expect to increase contributions.
Maryland Pension to Add Climate Advisory Panel
The board of the Maryland State Retirement and Penson System seeks three outside experts to assist the fund in achieving a sustainable portfolio.
Illinois Police Fund Finishes Consolidation of Local Pensions
The 14th and final tranche of asset transfers was valued at $1.6 billion, bringing IPOPIF assets to $12.9 billion.
Indiana Fund Narrows Finalists to Replace BlackRock
Under state law, the pension fund is required to replace service providers if they are determined to have made ESG commitments.
PBGC Provides $29.3M to Teamsters Local 11 Pension Plan
The New Jersey-based transportation workers pension fund is in critical status, according to the Pension Benefit Guaranty Corporation.
Texas Teachers Returns 12.7% in Fiscal 2024
The $209.5 billion pension is expected to be fully funded by 2052.
Australian Super Fund AMP Makes Bitcoin Allocation
With $36.24 billion in assets, AMP will allocate 0.05% to the digital currency that recently topped $100,000 in value.
Ohio Passes Bill Barring State Pension Funds, University Endowments From Prioritizing ESG in Investing, Stakeholder Activism
Ohio Senate Bill 6 now headed to Governor Mike DeWine’s desk to be signed into law.
Wates Group Pension to Transfer 1,500 Members to UK ‘Superfund’
$267 million in assets will move to Clara-Pensions, the company’s third such transaction—but first with an active sponsor.
NYC Pensions Counter Anti-DEI Rhetoric With $23.1B Invested in Diverse Firms
CIO Steven Meier aims to set a ‘powerful example’ that diversity is fundamental to fiduciary duty.
November Sees Another Gain in Corporate Pension Funded Status
If December can keep up the relatively strong results this year, defined benefit plan funded status may finish in the black for 2024.