US Corporate Pensions Rebound to Fully Funded Status
The 100 largest corporate DB plans in the U.S. saw their collective funded ratio rise to 100.7% in May.
Pensions
San Diego Plan Joins Private Debt Parade
The $10 billion fund is the latest allocator to invest in this alt, to make up 5% of its portfolio.
Public Pensions Remain Active in Adapting Allocations
U.S. public pension managers are confident their plans are well-hedged against inflation, as they plan to increase allocations to commodities and boost infrastructure investing.
PSP Investments Reports 4.4% Return in Fiscal 2023
The Canadian pension investment manager raised its net AUM to $182.3 billion.
New York’s State Pension Commits $2B in Investments in April
Nearly $900 million has been earmarked for investments with the pension giant’s credit portfolio.
PPG Agrees to Transfer Pensions of 4,000 Retirees
The $309M transaction moves the liabilities to insurers Legal & General and RGA.
NYC Teamsters Pension Sues Disney Over Streaming Service Losses
Lawsuit alleges hiding cost overruns at Disney+ was a ‘motivating factor’ behind the media giant’s 2020 reorganization.
PRT Sales Set New Q1 Mark at $6.3 Billion
Early data for Q2, including an $8.05 billion transfer by AT&T, keep buy-outs in 2023 far ahead of last year’s pace.
Ohio STRS Board Approves 1% Cost-of-Living Adjustment
The teachers’ pension fund also delays increasing the minimum years of service to be eligible for retirement benefits.
CalPERS Seeks Investment Director
The pension giant is hiring a search firm to find candidates for the job, which pays up to $392,000 a year.
Pension Funds Appear Unfazed by Potential US Default
They have ample liquid assets—and show little sense of fear.
Connecticut Leaders Agree to Reform State Pension System
Governor says changes will save the state and its cities more than $840 million over 31 years.
Kosovo Launches Sovereign Wealth Fund
The strategic/development fund will likely be seeded with stakes in six major government-owned companies.
NYC Pension Funds Sued for Divesting $4 Billion in Fossil-Fuel Assets
The complaint alleges breach of fiduciary duty in ‘misguided and ineffectual gesture to address climate change.’
After Years of Planning, UK Finally Authorizes First CDC Pension Plan
The Royal Mail finally received authorization for a plan it proposed in 2018 after closing its defined benefit plan.