US Public Pension Funding Levels Plunge to 66% in Q1
Market turmoil has wiped out all funding gains made in 2019.
Pensions
New York Burns Through Cash, But Pension Funds Not Impacted
State retirement systems, in solid shape, don’t require subsidies from the tax coffers.
Haves and Have Nots: Virus Effect Will Widen the Public Pension Divide
When the crisis abates, the gap between well-funded plans and the others will be even larger.
Kentucky Governor Signs Measure to Revamp Local Pension Boards
Legislation creates new panel of trustees for County Employees Retirement System.
Maine Picks Deputy James Bennett as CIO
During his six years as DCIO, the investment professional helped team members build out the fund’s alternatives portfolio.
New Mexico Businesses Can Apply for Relief from New $100 Million Fund
The relief, managed by private equity firm Sun Mountain Capital, comes from the state’s $5.3 billion severance tax permanent fund.
CalPERS Delays Launch of Two Programs to Lower Drug Costs
The shift to next year is due to the disruption from the coronavirus, the retirement system says.
US Corporate Pensions See Shocking $93 Billion Funding Gain in March
Surging discount rate offsets asset loss of $85 billion.
UK Equity Funds Weather Market Turmoil Surprisingly Well
Fixed income unexpectedly takes brunt of record monthly outflow of UK mutual funds.
Report: Virus’ Effect on NYC Teachers’ Pension Fund Poses Risk to City
NYU pinpoints the program’s unique Tax-Deferred Annuity offering and contribution volatility as threats.
Short-Term Losses Dent Norway’s Long-Term Returns
Pension giant’s 10-year return down over 2% after $112 billion first quarter loss.
New Jersey Is Enlisting State Pensioners to Return to Work
The governor hopes to bolster ranks thinned by the coronavirus, letting retired workers collect regular pay without shrinking their pension payouts.
Goldman Sachs Veteran Tapped as Japan’s GPIF CIO
Eiji Ueda will take over the $1.5 trillion plan as it pushes into foreign assets.
CDPQ Creates Fund to Support Quebec Firms Affected by Pandemic
Canadian pension giant provides C$4 billion ($2.83 billion) to help struggling businesses in the province.
Corporate Pension Plans Drop to Lowest Level in 8 Years
The 79% funded status in the first quarter, an eight-point drop from last year, is the smallest since 2012.