IMF Downgrades US, UK Growth, Upgrades Eurozone
Says US fiscal policy will be less expansionary than previously assumed.
Newsmakers
Treasury Approves Benefits Cuts for United Furniture Workers Pension Fund
Pension becomes only the second fund to be approved for cuts under Klein-Miller.
Scaramucci Becomes White House Communications Director
Press secretary Sean Spicer resigns in aftermath.
A Sober Second Half for Institutional Investors
State Street’s Lori Heinel talks with CIO about a tempered global market outlook while health care debate stalls progress on tax code overhaul.
Investors Press US SEC for Enhanced Human Capital Disclosures
Good corporate human capital management practices are associated with better financial performance.
UK Moves Up Pension Age Change
New timetable sees pension age rise to 68 by 2037, seven years earlier than current legislation.
Michigan Governor’s Task Force Proposes 4 Priority Reforms
Urges for better reporting and transparency, creation of local government pension/stress test system.
Advocacy Groups Call for Funds to Divest from Owner of Trump SoHo Hotel
The legal groups claim investment money violates President Trump’s fixed salary mandate.
Emory University CIO to Retire
Mary Cahill to step down after more than 16 years in the role, and search for replacement is launched.
Ontario Teachers’ Buys Mémora Funeral Services Company
Deal also made with Ontario Municipal Retirement System’s infrastructure arm to sell British rail link.
FedEx, Kroger to Contribute $1 Billion Each to DB Plans
FedEx’s 2017 pension contribution is more than triple that of 2015 and 2016 combined.
Illinois Gov. Rauner Can’t Legally Veto Pension Reform Bill, CPS Says
Governor demands Senate Bill 1 be placed on his desk immediately.
Robert “Vince” Smith Joins Innovation Awards Board
Award nominations close in less than three weeks.
CIO of National Pension Service, Third-Largest Pension Fund, Resigns
In the aftermath of a scandal, South Korea’s National Pension Service loses CIO Myoun-Wook Kang.