Exclusive: Raphael Arndt’s Ascension to CEO of the Future Fund
Arndt discusses with CIO his leadership strategies focusing on the democratization of intelligence and empowering individuals within the fund.
Pensions
Pennsylvania SERS Loses 11.69% in Q1
Tumbling equity markets helped weigh down retirement system’s returns.
Study: There’s a Better Way to Withstand Downturns than Old DB Model
Under new set-up, a plan is over-funded, which serves as a cushion in a downturn. Any benefit cuts are only as a last resort.
USS Targets Tobacco, Thermal Coal for Divestment, Exclusion
UK’s largest pension plan will shun investments, like tobacco and coal, it deems ‘financially unsuitable.’
CDPQ Reports Solid Year of Progress Despite Missing Return Target
Fund misses benchmark by 1.6%, but reports substantial progress in international markets, liquidity, and stewardship.
Supreme Court Rules Pensioners in Fully Funded Plans Can’t Serve ERISA Suits
Plaintiffs charging mismanagement of funds would have received the same fixed payment regardless of investment outcomes, the ruling said.
CPPIB Returns 3.1% in Fiscal 2020
Market downturn dampened strong first three quarters of the year for Canadian pension plan.
New Jersey to Postpone Pension Payments
A September payment has been deferred to October, or the start of the next fiscal year, as the state makes deep cuts and deferrals to stanch revenue losses.
Treasury OKs Benefits Cuts for Ohio, NY Union Pensions
Cincinnati roofer, Niagara Falls electrical worker plans are 16th and 17th funds affected.
Rhode Island Pension Plan Holds Down Losses Thanks to Treasuries, Algorithms
Although the first quarter was a wipe-out for plans, a surge in a special-strategy segment of the portfolio limited the damage in the smallest state.
Goldman Sachs Estimates Public Pensions Now Less than 60% Funded on Average
Senior Pension Strategist Michael Moran says local government spending limits will stymie funding levels.
US Corporate Pension Funded Ratio, Risk Transfer Costs Decline in April
Falling discount rates strike again, negating the market rebound for corporate DB plans.
Exclusive: Oklahoma Police Pension Employees Return to Office
Staff members will follow sanitation and social distancing protocols required by the state, the executive director said.
Public Pensions Plans Decline Over 13% in First Quarter
Wilshire TUCS says quarterly performance is worst in 40 years of tracking public plans.
Oklahoma Lawmakers Squelch Veto on Siphoning Pension Money
Legislature overrules governor’s objection to using retirement funds to meet current expenses.