Pennsylvania Pension Revamp Starts, Barring New Hires from Legacy Plan
Newly hired state workers will get lower benefits and either a 401(k) or hybrid retirement plan to save tax dollars, prop up DB funding levels.
Newsmakers
Canada Launches Pension Enhancement Plan
Enhancement will increase benefits and contributions for working Canadians.
CalSTRS Funding Report Offers Hope for the Future
While system is on track to full funding by 2046, investment volatility could throw a wrench into the process.
Lawmakers Introduce Bill to Exempt Cryptocurrencies from Securities Laws
Proposed legislation aims to provide light-touch regulatory guidance for digital tokens.
CalPERS Engages Private Prison Companies
The review could lead to divestment of CoreCivic and The GEO Group.
Canadian Pension Steps Up Gender Board Diversity Advocacy
CPPIB will use its voting power to increase presence of women on boards.
Danish Pension Excludes 14 Countries for Human Rights Violations
Denmark’s MP Pension said it will exclude from investments 14 countries that it accuses of systematically violating human rights. The move includes divesting DK400 million ($61 million) worth of...
Texas ERS Terminates Decade-Old Relationship with Investment Consultant
ERS also brings a new infrastructure private equity consultant on board.
NY State Pension Reaches Agreements with Firms on Executive Pay
Microsoft, CVS, Macy’s, TJX, and Salesforce agree to revisit pay policies.
CalPERS Planned Private Equity Program Could Grow Quickly
Official says system could easily commit $10 billion in just five years via direct investment organization.
Three Managers Put Under Review By San Francisco Pension Plan
AQR, William Blair, and DFA all have seen their international equity strategies reduced by the San Francisco Employees’ Retirement System.
Moody’s Takes Dim View of Kentucky Due to Pension Reform Mess
Ratings agency doesn’t downgrade the state but puts it on ‘credit negative’ status, which could portend trouble ahead.
CalPERS Reviews Divestment of Companies with Ties to Sudan
Nokia, Nordea Bank lead list of 13 firms with potential ties to African nation.
Kentucky Lawmakers Balk at Bid to Push Through Thwarted Pension Overhaul
House members say $43 billion funding problem can’t be resolved over a “five-day session.”