CalPERS Rejects Reinvesting in Tobacco Again
Pension plan’s investment committee votes down a second attempt from member Jason Perez to reverse its 20-year-old ban.
Pensions
Controversy Still Follows CalPERS’ CIO Resignation
More than a half-year after Ben Meng resigned, a lawsuit and pending pension system policy decisions are bringing his departure back into the limelight.
Nest Commits $350 Million to Octopus Renewables for Green Infrastructure
‘We want to invest in the energy of the future, not the past,’ says CIO Mark Fawcett.
COLA Freeze Removed from Pension Bailout Plan
American Rescue Plan Act amendment from Chuck Schumer removes cost-of-living adjustment freeze.
Aviva Targets Net-Zero Carbon by 2040
UK financial service firm’s environmental targets exceed Paris Agreement guidelines.
CDPQ Doubles Down on Security, Controversy
Canadian pension invests in alleged human rights violator G4S and Predator drone trainer CAE Inc.
NY State Pension Fund Strikes Climate Deals with Five Companies
Comptroller DiNapoli drops shareholder resolutions in exchange for commitments to greenhouse gas reductions.
Senate Parliamentarian Ruling Keeps Pension Bailout Alive
Multiemployer pension reform has been ruled eligible to be included in the $1.9 trillion COVID-19 relief package.
Virginia Legislature Passes Bill to Create State-Run Retirement Plan
The VirginiaSaves program would require mandatory participation by eligible employers.
Oklahoma Bill Would Create State-Run Retirement Plan
Proposal calls for auto-enrollment IRAs for workers whose employers don’t offer a retirement plan.
Pension Relief Plan in COVID-19 Stimulus Bill That Passes House
The legislation goes to the Senate, which could vote on the proposal later this week.
OMERS Reports First Annual Loss Since Financial Crisis
Canadian pension attributes 2.7% loss to the effects of pandemic on real estate, transportation, entertainment.
Canadian Pension to Invest C$5 Billion in Green, Social Bonds by 2025
British Columbia Investment Management also aims to cut carbon exposure of public equities by 30%.
NYC Pension Funds Rebound After Missing Fiscal 2020 Target
The city’s five pension systems have returned an estimated 18% in the first seven months of fiscal 2021.
CalSTRS Aims for New $2 Billion Sustainable Portfolio
Pension plan officials believe they can build a new private markets allocation without sacrificing investment targets.