CalPERS Sues Former Employee for Allegedly Stealing Pension Money
More than $685,000 was stolen from 10 retirees, including a homeless person and beneficiaries under legal conservatorships, the fund said in its lawsuit.
Pensions
NY State Pension Restricts Oil Sands Investments
The $247.7 billion fund has its sights set on shale oil and gas companies next.
UK Pensions Face Enforcement Action Over Climate Disclosures
The Pensions Regulator warns trustees not to shirk their climate risk disclosure responsibilities.
US Corporate Pension Funding Nudges Higher in FY 2020
Asset returns of 13.4% offset plunging discount rates to lift funded levels to 88.4%.
Florida Senate Passes Bill to Move Most State Workers to DC Plan
Opponents say the proposed legislation attempts to solve a problem that doesn’t exist.
Illinois Governor Signs Chicago Firefighters’ Pension Bill into Law
Critics say it will more than double the city’s annual pension costs to $30 million.
Funded Levels of Canadian DB Plans Climb to 20-Year High
Surging bond prices helped boost defined benefit plans’ funded ratios to 124%.
The New Kentucky Investment Chief Just Got a 41% Pay Boost
Still, the salary remains at the low end for allocators at public pension funds.
Ontario Teachers’ Pension Fund Misses Benchmark with 8.6% Return in 2020
But the C$221.2 billion plan ends 2020 fully funded for the eighth straight year.
CPPIB Launches Sustainable Energy Group
The Canadian pension giant is merging two business units to create the C$17.7 billion investment division.
Backlash Puts Vermont Pension Reform on Hold
State speaker places public retirement systems proposal on backburner amid furor from state teachers and employees.
CalPERS Suspends Search for New CIO
Pension system officials say they won’t restart the search until early July, and they didn’t offer a timetable as to when a new person will take the job.
Musician’s Pension Opts for ARPA Over MPRA
Trustees are wagering that relief under the most recent COVID-19 stimulus bill will provide a better option than a reduction in benefits.
Kentucky Lawmakers Override Pension Bill Veto
Law, opposed by governor, is allowed to stand, requiring teachers to contribute more and work longer before earning benefits.
Study Suggests There Is No Imminent Public Pension Crisis
Reforms enacted by many plans will cause benefit cash flows to decline significantly, paper finds.