New York City Takes ‘Major Next Step’ on Fossil Fuel Divestments
City hires Meketa Investment Group to develop divestment plan by end of year, citing federal inaction on climate change.
Pensions
Chilean President Pitches Reform in Wake of Deadly Pension Protests
Under a new proposal, 6% in new contributions would be made by the country’s employers to sustain retired citizens above the poverty line.
Tax Cuts Could Come Back to Haunt State Retirement Systems
Report urges states to close tax loopholes to avoid cutting pension benefits.
Funding for UK Defined Benefit Plans Rises in December
The total deficit for the plans is nearly halved as the funded ratio climbs to 98%.
Despite Robust Returns, Funding Level for Top 100 US Corporate Plans Drops in 2019
Record-low rates negate plans’ 15.66% investment return for the year.
Musicians’ Pension Fund Applies for Benefits Cut
Proposed reductions would affect nearly half of plan’s 51,000 participants.