Class Action Suits Involving Public Pensions Continue to Rise
Median ‘mega settlement’ in 2016 was $318 million, nearly twice the median reported in 2015.
Newsmakers
Columbia University to Divest from Thermal Coal Producers
The university’s trustees have voted to divest from companies that take in more than 35% of their revenue from thermal coal production.
Lufthansa Moves from Pension Plan to DC Plan for Pilots
Deal in effect through 2022, ends company’s longest collective bargaining dispute
Mississippi PERS Director to Step Down in 2018; Board to Hold Runoff
New state law provides higher salary cap for the next director.
Acadian Starts Experimenting with Bing on Predictive Investing
“Research project” uses large data sets to make objective investment decisions.
Western States Office & Professional Employees Pension Fund Seeks Cuts
The fund’s board has proposed a 29% decrease for all participants and beneficiaries.
Connecticut Pension Funds Surge More Than 13%
For all three funds, the top-performing asset classes were emerging markets and equities.
Wesley Named New CIO of Illinois State Retirement System
19-year veteran had been serving as interim CIO since August.
How Rising Rates Can Affect Pension Plans
Expert: March rate hike “already priced in by the market.”
Milliman Reports Corporate Pension Plan Funded Ratio Dip, Wilshire Sees Rise
For corporate pension plans singed by drop in discount rates, dips are partially countered by rising market returns.
Bitcoin: ETF Dream Deferred
Spec price drops, rebounds after SEC rejects first exchange-traded fund that tracks Bitcoin.
For Large Employers, Pension Costs Will Continue to Mount in 2017
Companies look to reduce pension risk, as plans continue to be hurt by rock-bottom interest rates and weak performance by bonds.
Natural Resource Fund Assets Grow by $48 Billion in Six Months
35% expect the asset class to perform better than it did in 2016, 21% believe it will perform worse.
California’s Pension Systems Lower Discount Rates
Reducing discount rates seen as painful in the short term, but set the stage for heftier employer contributions.
Report: Scottish Council Pensions Invest £1.7 billion in Fossil Fuels
By contrast, only £234 million invested renewables and social housing across all funds.