PBGC Multiemployer Program to Become Insolvent by 2026
Agency warns that without legislation, it won’t be able to provide financial assistance to 1,400 plans.
Pensions
North Carolina State Pension Hits Record $108.5 Billion Market Value
The fund’s portfolio has added nearly $15 billion in value since markets tumbled in March.
Ohio Teamsters Pension Fund Seeks Benefits Reduction
The Building Material Drivers Local 436 pension plan is expected to run out of money by 2023.
US Corporate Pensions See Largest Monthly Funding Gain Since 2003
Funding boost helped by combination of robust investment gains and rising discount rates.
World’s Largest Pension Funds’ AUM Up 8% in 2019
Report finds size matters, as the larger the fund, the higher the compound annual growth rate was from 2014 to 2019.
Sept 10: Live Conversation with CalPERS’ Anne Simpson and ISS’ Viola Lutz on Climate Risk and Financial Performance
Register now to reserve your space at tomorrow’s CIO's Allocator Insights webinar.
Ontario Teachers’ Pension Invests $350 Million in Indian Private Credit
The fund is teaming up with Indian private debt manager Edelweiss Group.
Korean Pension Giant Weathers COVID-19 Crash During First Half
The $635.5 billion fund was aided by being overweight in fixed income and underweight in equities.
CalPERS Retirees Call for Board President to Resign
The demand for Henry Jones’ ouster is the latest fallout from the resignation of CalPERS CIO Ben Meng following complaints he violated state ethics rules.
Pennsylvania Teachers’ Pension Sheds $2 Billion in Risky Investments
Move receives praise from State Treasurer Joe Torsella.
Texas TRS Names Heather Traeger General Counsel
Former general counsel Carolina de Onís has moved to UTIMCO.
New Jersey Governor Proposes $4.6 Billion Pension Payment
The record contribution falls short of what’s needed for the nation’s worst-funded retirement system.
Court Rules for Colgate Retirees in Benefit Calculation Lawsuit
Colgate may have to pay a total of $300 million to 1,200 retirement plan participants.
Teamsters Pension Asks Supreme Court to Reverse PE Firm Withdrawal Ruling
Pension says circuit court ruling ‘provides a blueprint’ for private equity funds to ‘escape withdrawal liability.’
Local Government Pension Funded Ratios Hold Steady Amid COVID-19
But financial strains on governments could make it harder to pay required contributions.