Treasurer Mistake Causes Dead Woman to Receive $73K in Postmortem Pensions
An unreported death cost Wilmington, Delaware, 20 years’ worth of unnecessary spousal benefit payments.
Newsmakers
NY State Employer Pension Contribution Rates to Drop
Comptroller says strong investment returns are keeping rates stable.
Six Biggest Banks Band Together to Build Bitcoin Competitor
The new “utility settlement coin” to operate under blockchain technology.
Romania May Lower Private Pension Contributions
Government considers redirecting private pension funds into state pensions.
CIO Announces Innovation Awards Finalists
8th Annual Innovation Awards nominees list was honed by asset owners and consultants representing $1.2 trillion in assets under management.
Aon Launches Hurricane Harvey Flood Insurance Product
Each risk to contain policy terms up to one year.
South Carolina Lawmakers Contemplating Additional Pension Reforms
New 401(k)-style plans heavily discussed in first-time legislative off-season meeting.
Employees Retirement System of Texas Lowers Expectations
Board of trustees votes to cut expected rate of return to 7.5%.
Oregon Task Force Pension Proposals Could Affect Oregonian Bank Accounts
In order to reduce Oregon PERS’ pension deficit, Governor Kate Brown to look at a series of out-of-the-box options.
Ball Transfers Pension Liabilities to Prudential Annuity
Move will reduce the company’s pension obligation by $220 million.
Finland’s Varma Mutual Pulls US Stocks in Response to Trump’s Performance
Fixed-income durations shortened using derivatives to prep for high interest rates.
Celadon Financial’s Philanthropy Division Teams with American Red Cross, Global Impact for Hurricane Harvey Relief
Caritas Partners willing to donate 50% of equity, option trade, “step-out” transaction commissions.
Gov. Rauner Blocks “Double Dipping” Police Retirees With New Pension Bill
Various loopholes could neutralize objective.
Chilean Candidate Proposes New Pension Plan
To reform the nation’s privatized plan, Beatriz Sanchez suggests new social security-style system.
