Treasury Approves Benefits Cuts for United Furniture Workers Pension Fund
Pension becomes only the second fund to be approved for cuts under Klein-Miller.
Regulation
Moody’s May Cut State of Illinois, Chicago Board of Ed Credit
Downgrade would place the state’s credit rating below investment grade.
Scranton Pension Board Sued for Double Payments
Lawsuit cites 2015 Audit Report that said the payments disregarded the laws governing pension plans.
Trump Seeks to Fill National Labor Relations Board Vacancies
If the two rumored candidates are confirmed, the board will see its first Republican majority since the Bush administration.
High Court Ruling May Not Settle Church Plan Issue
Sotomayor comments suggest decision goes against spirit of ERISA exemption.
Houston Firefighters File Lawsuit to Block Pension Reform
Pension fund claims bill violates the Texas state constitution.
Ex-Sterne Agee Executive Pleads Guilty to Pension Fund Bribes
“Pay-to-play” scheme lavished NYSCRF pension fund director with entertainment, travel, and meals.
Treasury Rejects Benefits Cuts for Automotive Industries Pension Plan
Fund faulted for using assumptions that contradicted its own information.
UK Seeks to Remove Triple Lock, Create Sovereign Wealth Funds
Conservative Party manifesto calls for changing the triple lock to a double lock.
Legislators Introduce Bill to Block Pension Benefits Cuts
Bill would repeal benefits reduction option provided by Multiemployer Pension Reform Act of 2014.
San Diego Union Appeals Ruling Upholding Pension Changes
City would have to fund retroactive pensions for more than 3,000 workers if overturned.
Hedge Fund Bond Price Investigation Focuses on Thinly-Traded Bonds
Since bonds are rarely traded, pricing is difficult to verify, making it “ripe for abuse.”
Mexico Sanctions Four Retirement Fund Administrators $58.6 Million
Regulator alleges administrators engaged in “monopolistic practices.”
Barclays Settles SEC Charges for $97 Million
Investment bank to create fair fund to pay back clients.
Labor Department Investigates 3M Pension Plan
Inquiry relates to private equity investments, expenses, securities lending, and distributions of benefits.