PennSERS Investments Lose More Than 16% During First Three Quarters
The pension fund’s market value has fallen by more than $7.4 billion as of Sept. 30, despite outperforming its benchmark.
Pensions
CDPQ Adopts CFA’s Asset Manager Code
The $287.3 billion pension giant announces it is the first Canadian fund to sign on to the code.
PSERS Posts Ad for New CIO
The $75 billion pension fund is looking for its first permanent CIO since Jim Grossman resigned last year.
OECD Pensions Outlook 2022: Developing Asset-Backed Pension Systems
Latest worldwide pensions review discusses how to develop and strengthen asset-backed pensions and makes recommendations on governance and fee structures.
Ohio Takes Lead in $25.5 Million Suit Against Warner Bros. Discovery
Class-action lawsuit alleges company intentionally failed to disclose financial problems at WarnerMedia prior to merger.
US Single-Premium Buy-Out Sales Set Record in Q3 ’22
U.S. single premium buy-out sales are poised to set new records for 2022, as the third quarter delivers $26.15 billion in buy-out transaction volume.
PSERS Exploring Legal Action Stemming from Reporting Error
The 2020 fund reporting error’s revision triggered the state’s shared-risk provision, which required school districts, as plan providers, and plan participants to pay more into the system.
Oregon Treasurer Pledges to Decarbonize State Pension Fund By 2050
Tobias Read says he’ll have a comprehensive plan to meet Paris Agreement goals by early 2024.
CalSTRS Reports Saving More Than $1.2 Billion in Portfolio Costs Since 2017
The California State Teachers’ Retirement System reports that its Collaborative Model, an investment strategy that seeks to reduce costs, control risks and increase expected returns, cut operational costs by $437 million in 2021.
Higher Interest Rates Put LDI Derivative Usage into Question
LDI strategies allow for passive equity to be replaced by holding ‘cash’ and synthetic equity instruments. But with better funding statuses, are pensions’ derivative positions less necessary?
“Relief Is No Longer Relief:” Financial-Market Upheaval Overtakes Best Intentions of Pension Legislation
Even with American Rescue Plan Act relief largely unavailable, pension plan balance sheets improved in 2022, causing some corporate plan sponsors to consider adding risk in 2023.
DOL’s Releases Final ESG Rule for ERISA Plans
Plan sponsors can consider climate and other ESG factors when selecting investments and voting proxies.
Here’s How Much Rising Rates Help Pension Plan Liabilities
Defined benefit plans see their obligations reduced, but there are also impacts on lump sum distributions, PBGC tabs and more.
Public Hearing Exposes Discord on QPAM Rule Implementation
A DOL public hearing held Thursday on the new QPAM Rule proposal highlighted concerns about foreign convictions and non-prosecution agreements as grounds for QPAM disqualification.
What Do Pension Funds Worry Over Most?
NEPC survey says they are leery of rising interest rates, the Fed’s ability to handle inflation and profit margins.