Equity Bull Market Buoys Australian Super Funds’ 2024 Returns
The calendar year saw double-digit returns based on Australian and global stock performance, ASFA reports.
Pensions
New York Common Leads All US Public Pension Funds in Commitments to Diverse Firms
An NAIC report also found corporate pensions and union funds ‘lag significantly’ behind public pensions in hiring diverse managers.
Clarks Footwear, Pension Insurance Corp. Complete $677M Annuity Buy-In
The pension risk transfer will cover 8,000 beneficiaries and could set the stage for a record-setting year in transaction volume.
ERSRI, COAERS Issue Consultant RFPs
The Employees’ Retirement System of Rhode Island is searching for an investment consultant, while the City of Austin Employees’ Retirement System seeks a private markets consultant.
Most PBGC Premium Payment Deadlines Accelerated
Premiums for plan years beginning in 2025 will generally be due one month earlier than provided in the PBGC’s payment of premiums regulation.
Pension Income Contributed $1.5T to US Economic Output in 2022
Private and public sector defined benefit pension fund payments added $224.3 billion in tax revenue in the period, according to the National Institute on Retirement Security.
CalSTRS to Review General Investment Consultant RFP
Current consultant Meketa’s contract with the California teachers’ pension will end on June 30.
Oregon Pension Publishes Inaugural Progress Report on Net-Zero Plan
The Oregon Public Employees’ Retirement Fund aims to achieve a net-zero carbon emission portfolio by 2050.
PBGC Updates Rate Tables on Expected Retirement Age, Missing Participants Mortality Assumption
Effective date for the final rule is January 1, 2025.
British Airways Pension Fund to Enter $425.6M Longevity Swap With MetLife, Zurich
The transaction will cover 1,100 members of the Airways Pension Scheme.
Voting Support for NYC Pension Proxy Proposals Continues to Wane
Only 21% of proposals that went to a vote were supported by shareholders, down from 35% in 2022.
Weyerhaeuser, State Street Sued in PRT Lawsuit
Timberland company sued by former employees, represented by Schlichter Bogard LLP, over a pension risk transfer it conducted with Athene in 2019.
US Pension Plans Set to Increase Contributions in 2025
Approximately 58% of plans saw an increase in funded status, while 68% expect to increase contributions.
Maryland Pension to Add Climate Advisory Panel
The board of the Maryland State Retirement and Penson System seeks three outside experts to assist the fund in achieving a sustainable portfolio.
Illinois Police Fund Finishes Consolidation of Local Pensions
The 14th and final tranche of asset transfers was valued at $1.6 billion, bringing IPOPIF assets to $12.9 billion.