Pittsburgh Pension Settles Lawsuit with Molina Healthcare
Steamfitters Local 449 Pension Plan agreed to drop the case for $7.5 million.
Pensions
Group Urges US Financial Regulators to Act Now on Climate Change
Investors with combined $1 trillion in assets back letter to address ‘systemic financial risk.’
Former Temasek Americas Head Boon Sim Joins CPPIB Board
The pension plan had been searching for an international director replacement since Jackson Tai retired last March.
Church Pension Fund Asset Value Declines by $500 Million in 2020
Episcopalian fund beats benchmarks over longer term, but misses targets.
US Public Pensions Bounce Back from Dismal First Quarter
Asset gain of $308 billion in April-June period lifts estimated funded ratio to 71.2% from 66%.
Under New Ownership, McClatchy Could Offload $1.4 Billion Pension Assets to PBGC
The bankrupt newspaper chain’s retirement obligations propelled it into Chapter 11, but the new owner, hedge fund Chatham, will get a clean slate.
Canada’s PSP Investments Loses 0.6% for Fiscal Year 2020
Despite loss, pension investment manager easily tops benchmark’s 2.2% decline.
Japanese Pension Fund Loses $77 Billion in Fiscal 2019
The world’s largest retirement system is the lowest it’s been valued in roughly three years.
UK Retirements Could Be Postponed Due to Pandemic
Research from Aviva finds that some may have to spend more of their life working because of COVID-19.
Nonprofit Hospitals’ Pension Funded Status Could Weaken After COVID Relief
The CARES Act has given many health care pension funds short-term relief, but that could result in lower funded ratios, says S&P.
CPPIB Ex-Chief Mark Wiseman Named AIMCo Board Chair
The industry head joins the Alberta investment manager just as the province is considering seceding from the national plan.
Pandemic Will Slice 7% from World’s Wealth in 2020, Says BCG
A painful $16 trillion could vanish from the planet’s coffers, only the second down year this century, Boston Consulting’s study estimates.
Trade Association Says UK COVID Bill Could Hurt Pension Industry
The PLSA warns of ‘unintended negative consequences’ for pensions of insolvent firms.
Tesla and Walmart Under Pension Fund Fire on Board Pay and Opioid Sales
The automaker has been sued by the Detroit Police and Fire retirement system over big payouts, and the retailer by the Detroit plan and a Norfolk County (Mass.) plan on how it distributes the drug.
Tesco Pension Investment Chief Steven Daniels to Retire Next Year
Deputies Danny Firth and Jenny Buck will take over his dual roles as chief executive and investment chief at the British supermarket giant.