Tim Thonis, pension administrator of the Ventura County Retirement Board in California, resigned unexpectedly, and while speculators blame years of failed promises over pay raises, he cites governance as the reason.
The bank has formed a deal with Paternoster, acquiring all of the shares in the pension insurer to nearly double Goldman's $4.7 billion insurance business in the UK.
While Florida lawmakers are resolute on revamping the state and municipal pension system, union members from the AFL-CIO labeled allegations that Florida's public employee retirement plans are underfunded and provide lavish benefits as "myths."
The prominent former public official, who was in charge of the New York City public school system for eight years, rails against pension accounting assumptions in a Monday opinion piece.
Since the financial crisis hit, the US regulator has been especially keen on hunting down public pensions for lack of transparency about their investments and about information regarding their financial impacts on the state.
A Swiss Re deal to transfer $50 million in longevity risk may bring back to life a market that has suffered since the onset of the financial crisis.
ATP's CEO Lars Rohde has said that the fund will avoid government bonds issued by the European Union's most indebted nations, as it considers the risk too great.
A Goldman unit that invests on behalf of asset owners turned down an opportunity to invest capital in social network Facebook, raising questions over whether the bank’s eventual investment is a robust one.
An upcoming Vanity Fair article further reveals the thinking of Warren Buffett regarding who eventually will take control of his $100 billion portfolio.
The besieged city will have to wait – possibly until September – to find out if their pension solution is accepted by the state, avoiding a takeover.
Why it’s important: Because it’s a trend that crosses the asset owning space from endowments to insurance funds – and because it’s here to stay.
Why it's important: Because we thought we were done with the placement agent scandal a year ago – but boy, were we wrong.
Why it's important: Not because Pittsburgh’s lost pension is unto itself an essential story -- but because it is a canary in the coalmine for the entirety of America’s public pension system.
China Investment Corporation’s joint action on Indonesia mining company Delta Dunia is the latest move in a month full of asset owner/private equity cooperation.
On December 2, 2010, aiCIO hosted asset owners and asset managers from across the globe for our inaugural Industry Innovation Awards. See who was in attendance – and who won awards – via our photo gallery.