Pensions
PBGC to Become Fiduciary Manager of St. Joseph Pension Plan
As St. Joseph Health Services liquidates, the Pension Benefit Guaranty Corporation will take over management of the health care pension plan.
Tag: Rhode Island
Pensions
Rhode Island Retirement System Sues Boeing
A securities class action complaint was filed by Rhode Island’s general treasurer due to safety concerns negatively affecting Boeing’s share price.
Newsmakers
State & Municipal Treasurers Publish Letter Encouraging McCarthy to Make Deal on Federal Debt Ceiling
They say a default would be ‘catastrophic’ and devalue portfolios, damaging pension funds and 401(k) plans.
Newsmakers
ERSRI Files Mastercard Shareholder Proposal to Curb Sales of Ghost Guns
The Rhode Island pension fund is concerned that ghost gun sales will lead to costly litigation and reputational damage to the company.
Newsmakers
Virginia Retirement System Appoints Andrew Junkin as CIO
Junkin currently serves as CIO of Rhode Island’s pension fund and was the president of Wilshire Advisors.
Newsmakers
Rhode Island Pension Fund Hits Record but Misses Benchmark in 2021
Its investment portfolio value nears $10.8 billion after a 17.27% annualized return net of fees as the fund boosts its private equity allocation.
Pensions
Rhode Island Pension Fund Beats Benchmark with 11.9% Return in 2020
Portfolio gains roughly $876 million in last two months of year to raise asset value to a record $9.5 billion.
Risk
State Treasurers File Shareholder Action over Alleged Gilead Price Gouging
Pennsylvania, Rhode Island call for independent chair at biotech firm after it reportedly priced remdesivir at more than 500 times the cost.
Pensions
Rhode Island Pension Fund Surpasses $9 Billion
State pension fund earns nearly $573 million in November after losing 1.09% in October.
Asset Allocation
Rhode Island Pension Returns 3.8% in 2020 to Hit Record-High Asset Value
‘Crisis Protection Class’ defensive strategy helps portfolio double benchmark’s return.
Manager Selection
Former Wilshire President Joins Rhode Island Treasury as CIO
Andrew Junkin will lead the state pension system’s investment operations after 15 years at the consulting firm.
Regulation
Rhode Island Attorney Jailed for Collecting Pension Benefits of Deceased Client
Attorney pleads guilty to taking $234K over 12 years.
Corporate Moves
Rhode Island CIO Departs for Washington Hospital System
Alec Stais informed the state pension plan last month of the move.
Market Moves
Rhode Island Pension Plan Holds Down Losses Thanks to Treasuries, Algorithms
Although the first quarter was a wipe-out for plans, a surge in a special-strategy segment of the portfolio limited the damage in the smallest state.
Asset Allocation
Rhode Island Lost 9.5% But Performed Better Than Benchmarks
The state treasurer attributed an allocation into Treasuries and quant strategies for offsetting losses.