3M to Transfer $2.5B in Pension Liabilities to Met Tower Life
The pension risk transfer will cover 23,000 of the company's retirees.
Pensions
Corporate Pension Plan Funded Status Shows Continued Improvement
May saw a decline in discount rates, while equity markets maintained high funding levels.
CalPERS Returns 3.3% in the First Quarter, Decreasing Size of Buyouts in Portfolio
Assets of the US’s largest pension fund reached $495.3 billion at the end of Q1 as the fund prepares to increase its allocation to alternatives.
UN Pension Fund Earns 2.42% in May, up 3.29% Year to Date
The $91 billion pension fund’s performance was led by public equity, which returned more than 4% last month.
Pension Risk Transfer Premiums Reach $14.6 Billion in Q1
146 contracts were sold in the quarter, a 26% increase from Q1 2023 and an all-time record.
Swedish Pension AP7 Blacklists Oil Giant Aramco
The $115 billion fund also added six other firms to its banned roster for ‘acting against the targets of the Paris agreement.’ Most are in China.
Former TIAA Trader Sentenced to Nearly 6 Years for $47 Million Insider Trading Scheme
Lawrence Billimek allegedly profited from information regarding behemoth’s impending stock purchases and sales.
Illinois Municipal Retirement Fund Approves $282.5 Million in Commitments to Four Alternatives Managers
Five commitments in total were approved to AUA Private Equity Partners, Inflexion, Sterling Group and H.I.G Capital Partners.
Pennsylvania PSERS Returns 8.62% in 2023
The fund also made over $760 million in commitments to managers.
Korean National Pension Service Returns 5.82% in Q1, Plans Boost to Alternatives
Assets of the pension rose to $797 billion during the quarter, boosted by U.S. tech stocks.
Mass PRIM Allocates More Than $2B to Credit Managers in New Commitments
The pensions board approved $3.5 billion in total commitments, and saw its assets grow to $104.2 billion.
Norway’s Central Bank Adds 3 Firms to Government Pension Fund Global’s Exclusion List
The $1.65 trillion pension giant is prohibited from investing in Adani Ports & Special Economic Zone, Weichai Power and L3Harris Technologies.
Shareholder Activist Vote Against ExxonMobil Fails
An average of 95% of votes cast support the company's board amidst a lawsuit against two shareholders over sustainability concerns.
Entergy Enters $1.2 Billion Pension Risk Transfer with MetLife
The transaction is one of many billion-dollar annuity buyouts to occur this year.
Record $15B in Pensions Transferred to Insurers in Q1
Jumbo deals by Verizon and Shell led a busy quarter that points to a busy year for PRT.