New standards implemented by the Governmental Accounting Standards Board (GASB) are expected to remove the link between pension accounting and funding, according to a letter by Keith Brainard of the National Association of State Retirement Administrators to the group's members.
"JP Morgan & Dimon were not hedging. They were involved in pure & sheer speculation in arrogant violation of the spirit of the Volcker rule," Nouriel Roubini comments on his Twitter page.
A group of activist investors representing $1 trillion in assets under management are seeking action from the hydraulic fracturing industry due to the increasing level of uncertainty about its potential for environmental damage.
The Securities and Exchange Commission has charged former Detroit officials, along with an investment adviser to the city's pension funds, with participating in an influence peddling scheme.
“It is a misperception that new benefit structures raise costs in the short run because of a Government Accounting Standards Board (GASB) accounting rule that accelerates amortization schedules,” says Dr. Robert M. Costrell, Professor of Education Reform and Economics at the University of Arkansas.
A recent article by Fortune Magazine attacks CalPERS over questions surrounding placement agent activity, but the California scheme has fired back in defense.
The former CEO of the California Public Employees’ Retirement System has been sued by the Securities and Exchange Commission over claims he defrauded an investment firm into paying $20 million in fees to a friend’s placement agencies.
