MetLife Secures $1.9 Billion Pension Deal with Lockheed Martin
The aerospace giant will transfer liabilities to the insurer, roughly 20,000 retirees and current workers.
Pensions
South Carolina Governor Calls for Closure of Defined Benefit Pension
Gov. Henry McMaster’s proposed plan would move all new employees into a defined contribution pension.
Head of Canada’s Largest Pension Warns Against Illiquid Assets
CPPIB CEO Mark Machin ‘rings the alarm bell’ about not being too invested in the asset class.
Worldwide Pension Fund Assets to Rise to $61 Trillion by 2025
Equity holdings fall by 22% in 20 years as pensions turn to alts in search of alpha.
New York City Takes ‘Major Next Step’ on Fossil Fuel Divestments
City hires Meketa Investment Group to develop divestment plan by end of year, citing federal inaction on climate change.
Chilean President Pitches Reform in Wake of Deadly Pension Protests
Under a new proposal, 6% in new contributions would be made by the country’s employers to sustain retired citizens above the poverty line.
Tax Cuts Could Come Back to Haunt State Retirement Systems
Report urges states to close tax loopholes to avoid cutting pension benefits.
Funding for UK Defined Benefit Plans Rises in December
The total deficit for the plans is nearly halved as the funded ratio climbs to 98%.
Despite Robust Returns, Funding Level for Top 100 US Corporate Plans Drops in 2019
Record-low rates negate plans’ 15.66% investment return for the year.
Musicians’ Pension Fund Applies for Benefits Cut
Proposed reductions would affect nearly half of plan’s 51,000 participants.