Coronavirus - COVID-19
Japanese Pension Fund Loses $77 Billion in Fiscal 2019
The world’s largest retirement system is the lowest it’s been valued in roughly three years.
Tag: Funding
Budding Trend: Institutional Investors Focusing Locally
Pandemic-induced economic instability and nationwide protests could spur investments in nearby businesses. Keeping politics out of the equation and ensuring proper diversification are musts.
Coronavirus - COVID-19
New Jersey to Postpone Pension Payments
A September payment has been deferred to October, or the start of the next fiscal year, as the state makes deep cuts and deferrals to stanch revenue losses.
Pensions
Goldman Sachs Estimates Public Pensions Now Less than 60% Funded on Average
Senior Pension Strategist Michael Moran says local government spending limits will stymie funding levels.
Asset Allocation
CalSTRS Mandates More Money from State, Employers to Absolve Growing Deficit
The pension was about 66% funded before the COVID-19 pandemic.
Regulation
New York AG Investigates St. Clare’s Pension Fund Fiasco
Nearly 1,100 retirees lost their pensions or had them reduced last year.
Pensions
California Pension Spiking Case Nears End in Court Showdown
Public sector workers want to strike down a provision that stops them from winning higher benefits in retirement.
Pensions
Denver Retirees Ordered to Return $11 Million in Benefits
A local investigation found overpayments ranging from $3,000 to $3 million to be recouped.
Coronavirus - COVID-19
State Pension Funding Drop to Lowest Level in 30 Years, Wilshire Says
Public plans were 62.6% funded in the first quarter after the coronavirus wiped out 12.2 percentage points.
Corporate Moves
Japan’s GPIF Seeking Active and Passive Managers for Foreign Bonds
The giant pension fund seeks to diversify away from low-yield Japanese bonds.
Opinion
Op-Ed: U.S. Public Pension Underfunding—Don’t Make the Same Mistake Thrice
As some lawmakers suggest states consider declaring bankruptcy, governments will be tempted to cut back on pension contributions. Amundi Pioneer senior adviser Charles E.F. Millard urges them not to do so.
Market Moves
World’s Largest Pension Fund Ups Scrutiny of Index Investments
Japan’s $1.5 trillion retirement program wants to improve its passive management strategy.
Newsmakers
$10 Billion Illinois Pension Bailout Request Ignites Controversy
GOP critics call the plea from Democratic state lawmakers, folded into a coronavirus relief package, ‘infuriating.’
Asset Management Culture
New Mexico Businesses Can Apply for Relief from New $100 Million Fund
The relief, managed by private equity firm Sun Mountain Capital, comes from the state’s $5.3 billion severance tax permanent fund.
Coronavirus - COVID-19
Report: Virus’ Effect on NYC Teachers’ Pension Fund Poses Risk to City
NYU pinpoints the program’s unique Tax-Deferred Annuity offering and contribution volatility as threats.