Actuaries: 80% Does Not Equal Well Funded
By itself, a funding ratio of 80% does not mean a pension plan is adequately funded, the American Academy of Actuaries has asserted.
Regulation
Solution in Sight for Investors to Thwart Alleged Wal-Mart Bribery?
Institutional investors must be more aware of the implications of the Foreign Corrupt Practices Act in order to prevent scandals similar to Wal-Mart's alleged bribery failures, industry sources note.
Maryland Pension Rejects Lower Return Target
A 7.75% return rate is still the number to aim for in Maryland.
CalPERS Investment Chief Considers Libor Litigation
CalPERS will investigate whether it has been harmed by the alleged Libor rate-fixing scandal and will pursue damages from banks if that is the case.
Ohio Pensions Sue JPMorgan Over ‘Whale’ Losses
Three Ohio public pension funds will pursue lead plaintiff status in the shareholder lawsuit against JPMorgan Chase over the “London Whale” debacle.
Sovereign Institutions Hit by Derivatives Regulation
Sovereign institutions that use over-the-counter derivatives will be greatly affected by new regulatory reforms, says a new report.
Pension Costs Help Sink San Bernardino
The San Bernardino City Council has voted to enter bankruptcy proceedings, due in part to soaring pension costs.
Dutch Pension Sues Goldman for $300 Million
The Dutch pension fund Pensioenfonds Vervoer has accused Goldman Sachs Asset Management of breaching its fiduciary duty by making inappropriate investments during the financial crisis, filing two claims against the bank totaling up to $300 million.
SEC Further Defines 'Swaps' With Derivatives Regulation
The Securities and Exchange Commission has approved rules and interpretations on key terms for regulating derivatives.
BNY Mellon to Pay $280 Million in Securities Lending Pension Settlement
BNY Mellon will pay a group of investors including some pension funds $280 million over allegations that the bank imprudently invested their capital under a securities lending program.
Pensions Offered Seat at the Table in M&A Discussions
Pension funds are often one of the largest assets, and costs, to a company – now it looks like the people who look after them could get a say in corporate activity.
Mixed Reform for Corporate DB Plans
Congress has passed a reform package for corporate pension plans, simultaneously easing funding requirements and raising premiums owed to the Pension Benefit Guaranty Corporation.
GASB Approves New Pension Standards
The Governmental Accounting Standards Board has approved new accounting standards for US public pensions that aim to improve their accounting and financial reporting.
International Clamoring to Ease Pension Burden
Pension experts in the United Kingdom and United States have called for regulatory changes to lower the exploding liabilities of pension plans caused by rock-bottom interest rates.
Business Leaders Demand Growth as Downgrades Hit Banks
Institutional investors should be called upon to support growth in the UK economy, experts say, as Moody’s downgrades banks that should be providing financial backing.