Market Volatility Is Harming Americans’ Hopes for a Secure Retirement
Allianz Life study finds many deeply uncomfortable with the state of the virus-driven market.
Coronavirus – COVID-19
An Optimistic Jamie Dimon Sees a 3rd Quarter Recovery
JPM chief points to massive Washington relief efforts as the economy’s savior.
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.
US Corporate Pension Funded Ratio, Risk Transfer Costs Decline in April
Falling discount rates strike again, negating the market rebound for corporate DB plans.
After Turning Down Stimulus, Northwestern Taps Endowment
The university will draw from its investments, furlough employees, and cut retirement contributions.
Norway to Withdraw Record Amount from Sovereign Wealth Fund
Economic downturn forces government to take out over $37 billion.
Coronavirus Cases Should Rise in May, Gottlieb Says
The former FDA commissioner, and current pension plan asset manager, sounded alarms in January about the pathogen.
Public Pensions Could Suffer for Years from Pandemic Losses
Employers will have to increase contributions unless markets rebound sharply, says S&P.
Pandemic Blots One Year’s Worth of Gains from Canadian Plans
Corporate, public, and university funds lost a median 7.23% in the first quarter from falling equities, BNY Mellon says.
Harvard Forecasts Big COVID-19-Related Losses and Enters Cost-Saving Mode
University projects a $750 million revenue shortfall in FY21 in light of the economic fallout of the coronavirus.
Trump Considers Banning Chinese Stock in Federal Pension, Reports Say
The White House is reportedly reviewing its options against a planned investment into Chinese equities.
Foolish Hope Will Doom the Current Rally, Savant Says
Investors will see that things aren’t getting much better, and that will reverse stocks’ recent surge, warns James Bianco.
State Pension Funding Drop to Lowest Level in 30 Years, Wilshire Says
Public plans were 62.6% funded in the first quarter after the coronavirus wiped out 12.2 percentage points.
Wells Fargo Predicts 10-Year T-Note Will Rise Above 1%
Now at a 0.63% yield, the benchmark bond should move up due to better economic and virus news, says bank’s strategist.
COVID-19 Layoffs Can Mean PBGC Reporting Obligations
PBGC monitors workforce reductions, so plan sponsors must be vigilant.