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.
Tag: Retirement
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.
Regulation
Permission to Tap 401(k)s Worries SEC Chief
New penalty-free retirement plan withdrawals, meant as recession relief, may result in too-risky investing, Jay Clayton says.
Asset Management Culture
MassMutual Reportedly Exploring $2 Billion Sale of Retirement Services
The life insurance company apparently no longer considers the DC plans integral to its business.
Research
Pandemic Provides Lessons to Improve Retirement System
Research paper says pandemic ‘is likely to hasten the demise’ of defined benefit plans.
Regulation
Rhode Island Attorney Jailed for Collecting Pension Benefits of Deceased Client
Attorney pleads guilty to taking $234K over 12 years.
Coronavirus - COVID-19
Market Volatility Is Harming Americans’ Hopes for a Secure Retirement
Allianz Life study finds many deeply uncomfortable with the state of the virus-driven market.
How CIOs Get Leeway from the Board
Getting a board buy-in for rebalancing portfolios is tough for new investment chiefs. Veterans reveal tried-and-true practices that helped them gain some freedom.
Corporate Moves
CalSTRS Searches for Director of Investment Services
The position on the senior investments team will replace COIO Debra Smith, who retired this month after 24 years at the fund.
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.
Asset Allocation
New York Pension Fund to Supplement Federal Small Business Loans
The state hardest hit by the coronavirus is bolstering relief efforts.
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.’
Alternatives
Kentucky Eyes $200 Million Controversial Investment in Direct Lending Firm
The pension fund seeks lucrative opportunities during the virus-driven downturn, but some staffers think the deal is too risky.
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.
Corporate Moves
CalSTRS COIO Debra Smith to Retire in May
The largest educator retirement system will soon search for her successor.