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.
Pensions
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.
CPPIB Launches Sustainable Energy Group
The Canadian pension giant is merging two business units to create the C$17.7 billion investment division.
Backlash Puts Vermont Pension Reform on Hold
State speaker places public retirement systems proposal on backburner amid furor from state teachers and employees.
CalPERS Suspends Search for New CIO
Pension system officials say they won’t restart the search until early July, and they didn’t offer a timetable as to when a new person will take the job.
Musician’s Pension Opts for ARPA Over MPRA
Trustees are wagering that relief under the most recent COVID-19 stimulus bill will provide a better option than a reduction in benefits.
Kentucky Lawmakers Override Pension Bill Veto
Law, opposed by governor, is allowed to stand, requiring teachers to contribute more and work longer before earning benefits.
Study Suggests There Is No Imminent Public Pension Crisis
Reforms enacted by many plans will cause benefit cash flows to decline significantly, paper finds.
Vermont Pension Reform Plan Blasted by State Teachers, Workers
Proposal would require public employees to contribute more, work longer, and earn less.
Single-Employer Plans Can Lower Target Returns to 4% and 5%
Under the pension relief bill, allocators can aggressively de-risk corporate funds, says Insight Investment.
Pennsylvania PSERS Hires Law Firms to Probe Reporting Error
‘Misstatement’ in 2020 financial reporting could lead to increase in teachers’ pension contributions.
Exclusive Coverage: CIOs Assess How Pension Fund Investors Can Be Successful After COVID-19
Better governance, flexibility, and clever investment strategies and solutions can prepare pension funds for the future, plan leaders say.
AIF Institute Launches Center for ESG, Sustainable Investing
BlackRock, Natixis Investment Managers will serve as founding faculty members.