Two More Pension Funds Apply to Treasury Department for Benefits Cuts
Arizona Bricklayers’ fund submits its first application, while Michigan Carpenters’ fund applies for the second time.
News
J.C. Penney Completes Pension Liabilities Transfer to PBGC
The long-beleaguered American retailer is offloading its obligations as part of a sale to mall operators Brookfield and Simon Property.
FBI Arrests Head of Wealth Management Firm for Fraud
Terrence Chalk, aka Dr. Cash, allegedly hid his criminal past to defraud investors out of more than $4 million.
Corporate Insider Buying Plummets: Bad Portent?
Executives last month purchased lowest amount in four years.
Kentucky Retirement Systems Leans into Stocks, Real Estate
Investment committee members are dialing up risk levels to meet return assumptions.
Mississippi Pension Sues Portland General Electric over Energy Trading Losses
Lawsuit alleges ‘false and misleading’ statements by the company, its CEO, and its CFO ‘wiped out’ over $300 million in market value.
US, UK Corporate Pension Deficits Widen Due to Falling Equity Markets
Rising discount rates were not enough to offset markets spooked in October by surging COVID-19 cases.
A Divided Congress Is Good for Stocks, Study Says
When neither party controls both side of Capitol Hill, the S&P 500 does best, per LPL study.
10 Ways to Close Public Pension Funding Gaps
NCPERS research identifies actions governments can take to close pension funding gaps without resorting to detrimental ‘knee-jerk’ reactions.
Mubadala Wants to Turn Parking Lots into Hubs for Restaurants
The Abu Dhabi sovereign wealth fund’s investment is a vote of confidence in delivery and last-mile distribution services.
Housing Surge May Be Ebbing, Economist Says
Much of the action has been in the high end of the market, notes TS Lombard’s Brennan.
Ivy League Endowments Underperform 60-40 Portfolio Again
Average university returns fall short of a passive portfolio over one- and 10-year periods.
New York State Pension Doubles Down on Alternatives
C-band spectrum, collateralized loan obligations, and solar and wind power are among the largest allocations the fund made in September.
Australian Pension Fund Settles Climate Change Lawsuit
Mark McVeigh calls the settlement with Rest pension fund a ‘ground-breaking recognition’ of risks posed by climate change.
Judge Rules Sterne Agee Analyst Complicit in NY Pension Pay-to-Play Scheme
John Paulsen planned ski trip for New York state pension fund fixed-income director in exchange for business directed to firm.