NY State Pension Commits to $400 Million in Sustainable Investments
The majority of commitments were for the world’s largest dedicated greenfield renewable energy fund.
Pensions
Sterling Bancorp to Pay $12.5 Million to Settle Securities Lawsuit
An Oklahoma pension fund alleged the bank violated federal laws related to residential lending practices.
Investors Should Decarbonize Portfolios by 10% Annually, MSCI Says
The firm laid out plans for asset owners, managers, and other participants in a call to action this week.
Kentucky Public Pensions Authority Names Board Members
Only a few remaining vacancies remain for trustees of the state’s restructured pension systems.
Bill Would Move New Texas State Employees to 401(k)-Like Plan
The proposed pension reform would affect workers hired after Sept. 1, 2022.
PSERS Recertification Triggers Contribution Increase
Thousands of Pennsylvania teachers will have to pay more in contributions starting in July.
CalPERS Sues Former Employee for Allegedly Stealing Pension Money
More than $685,000 was stolen from 10 retirees, including a homeless person and beneficiaries under legal conservatorships, the fund said in its lawsuit.
NY State Pension Restricts Oil Sands Investments
The $247.7 billion fund has its sights set on shale oil and gas companies next.
UK Pensions Face Enforcement Action Over Climate Disclosures
The Pensions Regulator warns trustees not to shirk their climate risk disclosure responsibilities.
US Corporate Pension Funding Nudges Higher in FY 2020
Asset returns of 13.4% offset plunging discount rates to lift funded levels to 88.4%.
Florida Senate Passes Bill to Move Most State Workers to DC Plan
Opponents say the proposed legislation attempts to solve a problem that doesn’t exist.
Illinois Governor Signs Chicago Firefighters’ Pension Bill into Law
Critics say it will more than double the city’s annual pension costs to $30 million.
Funded Levels of Canadian DB Plans Climb to 20-Year High
Surging bond prices helped boost defined benefit plans’ funded ratios to 124%.
The New Kentucky Investment Chief Just Got a 41% Pay Boost
Still, the salary remains at the low end for allocators at public pension funds.
Ontario Teachers’ Pension Fund Misses Benchmark with 8.6% Return in 2020
But the C$221.2 billion plan ends 2020 fully funded for the eighth straight year.