New Michigan Plan Looms as Gov. Snyder Signs Senate Bill 401
The new law will shift current retirement plans to a new DC hybrid.
Newsmakers
UK Supreme Court Upholds Pension Benefits for Same-Sex Couples
High Court says it is discriminatory to treat same-sex partners less favorably than an opposite-sex spouse.
Chase’s Dimon Concerned EU can “Dictate” Job Locations in Wake of Brexit
CEO says Brussels may wield too much influence, and also warns Fed may unwind QE too fast.
UK Automatic Enrollment Surpasses 8 Million Mark
Every week, tens of thousands are joining workplace pensions through automatic enrollment.
UK BMW Workers Accept Revised Pensions Deal
New offer more than triples payments proposed in rejected offer.
To Avoid Junk Bond Status, Illinois Treasurer Gives Gov. Rauner Ultimatum
Steps include speaking with rating agencies in New York, implementing $6 billion in bonding authority.
Taiwan Enacts Deep Pension Cuts for Teachers, Civil Servants
Reductions are expected to save the government nearly $46 billion.
UK Watchdog Report Blasts Asset Managers
FCA says investors paying higher prices for funds typically achieve worse performance.
Nevada’s Public Employee Retirement System Sees 12% Return for 2017 Fiscal Year
Equity exposure drives strong gains for pension plan.
BlackRock’s Global Renewable Power Fund II Closes with $1.6 Billion
The fund exceeds its initial $1 billion target, demonstrating investor interest in renewables.
Audit: Milwaukee County Pension Riddled with Errors
Audit going back 62 years has found that half the pension’s calculations had an error.
Gov. Christie Signs New Jersey’s Fiscal Year 2018 Budget
Highlights include state record pension payment, lottery-based contribution law.
EU Adopts New Rules for Occupational Pensions
Changes are aimed at improving pension governance and transparency.
World’s Largest Pension Fund Selects Three ESG Indices for $9 Billion Investments
Japan’s Government Pension Investment Fund looks to set a global example.
TPR Post Mortem Dissects Philip Green
Report on deal to fund BHS pension contradicts public statements made by Green.