Pensions
Democrats Introduce Bill to Protect Pensions, Expand PGBC’s Power
Proposed legislation would create PBGC partition program and end ability to seek benefits cuts under MPRA.
Tag: Retirement
Pensions
Illinois Lawmakers Pass Firefighter Pension Bill Upping Benefits
The move would add $18 million in extra inflation-adjustment benefits for its first year, expanding the liability for the poorly funded plan.
Asset Management Culture
4 Public Pension Funding Strategies Besides Employer Contributions
Issuing bonds or tapping gambling revenues are among the methods some states adopt, the National Institute on Retirement Security finds.
Pensions
Local Pension Plans Benefited from Shifting Money to MassPRIM, Report Says
Push to consolidate underfunded small retirement programs under the state-level system is being considered in other states.
Corporate Moves
New York Times Makes $235 Million Pension Risk Transfer to MassMutual
About 1,850 affected retirees will continue to receive payments from the life insurer.
Pensions
Texas Employees CIO Tom Tull to Retire
He built out alternatives at the $29 billion retirement system soon after joining.
Pensions
CalPERS Retirees Call for Board President to Resign
The demand for Henry Jones’ ouster is the latest fallout from the resignation of CalPERS CIO Ben Meng following complaints he violated state ethics rules.
Newsmakers
New York Pension Plan Names Navyug Patel Deputy Investment Chief
He is taking the spot vacated by Anastasia Titarchuk, who now is the program’s CIO.
Pensions
New York Common Fund Returns 10% in First Quarter
After maintaining a conservative allocation strategy, the pension fund took the three months ending in June to snatch up some equities.
Newsmakers
CalPERS CIO Ben Meng Resigns from Nation’s Largest Pension Fund
Deputy chief Dan Bienvenue will take over until the retirement system finds a replacement.
Coronavirus - COVID-19
New York Common Fund Loses 2.7% in Fiscal Year
The pension plan, which closed its books in March, had incrementally dialed up an allocation to conservative assets.
Asset Management Culture
Feuding New Mexico PERA Trustees to Create Oversight Committee
The new panel will seek to bring order to a board riven by accusations and walkouts among members in a ‘toxic’ work environment.
Manager Selection
Maryland State Pension Receives $405,000 in LIBOR Restitution from UBS
The payout settles charges that the Swiss bank manipulated interest rate benchmark during the 2008 financial crisis.
Regulation
US Bill Would Create Lost and Found for Retirement Savings
An estimated 30% of all US employees have left a retirement account at a previous employer, lawmakers say.
Coronavirus - COVID-19
UK Retirements Could Be Postponed Due to Pandemic
Research from Aviva finds that some may have to spend more of their life working because of COVID-19.