Pensions

Prudential, MetLife to take over responsibility for 100,000 participants and beneficiaries.

Ruling shoots down BT, Ford, Marks and Spencer pension funds’ challenge to reforming inflation calculation.

More than $800 million from Special Financial Assistance Program will help two pension funds covering more than 22,000 participants.

A 2020 accounting error had prompted the investigation that lasted for more than a year.

Preliminary 2022 investment losses are estimated at 10.4% on average for state and local plans.

The state auditor says the information supports ‘a reasonable basis’ for conducting a probe of the retirement system.

Asset allocation for the six plans has shifted toward alts and away from US equities over the past decade.

A new report debunks the ‘myth’ that an 80% funded level means a plan is in good health.

However, a task force says a local tax increase could eliminate the need to reduce the number of city workers.

More than 90% of corporate DB plans with de-risking goals say they expect to divest all their plan liabilities in the next five years.

As Bruce Cundick leaves the Utah plan, new CIO John Skjervem joins from Alan Biller and Associates.