Norway to Withdraw Record Amount from Sovereign Wealth Fund
Economic downturn forces government to take out over $37 billion.
Pensions
Senators Urge Pelosi to Include Pension Fix in Next Stimulus Package
However, Senate Majority Leader Mitch McConnell has objected to providing funds to fix pension issues.
California Pension Spiking Case Nears End in Court Showdown
Public sector workers want to strike down a provision that stops them from winning higher benefits in retirement.
Public Pensions Could Suffer for Years from Pandemic Losses
Employers will have to increase contributions unless markets rebound sharply, says S&P.
Alaska Permanent Fund Contemplates a New Dalio-Backed Gold Allocation
The new allocation would provide the portfolio with a new risk-mitigating asset class, citing the support of Bridgewater Associates’ Ray Dalio.
Denver Retirees Ordered to Return $11 Million in Benefits
A local investigation found overpayments ranging from $3,000 to $3 million to be recouped.
Public Pension Fund Debt Expected to Reach ‘All-Time High’
Retirement systems will struggle with meeting their required contribution targets, Pew report says.
Canadian Defined Benefit Plans Have Worst Quarter in 12 Years
RBC and Northern Trust report plans lost 7.1%, the steepest drop since 2008.
Judges Reject Dallas Retirees’ Push to Restore Lump-Sum Payouts
Federal appeals court ruling is boon to ailing police and firefighters’ pension system.
New York Pension Fund to Supplement Federal Small Business Loans
The state hardest hit by the coronavirus is bolstering relief efforts.
Rhode Island Lost 9.5% But Performed Better Than Benchmarks
The state treasurer attributed an allocation into Treasuries and quant strategies for offsetting losses.
$10 Billion Illinois Pension Bailout Request Ignites Controversy
GOP critics call the plea from Democratic state lawmakers, folded into a coronavirus relief package, ‘infuriating.’
US Public Pension Funding Levels Plunge to 66% in Q1
Market turmoil has wiped out all funding gains made in 2019.
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.