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.
Risk
Fighting Climate Risk More Popular in Finance Industry Boardrooms, Survey Says
In GARP poll, 90% of boards were involved in sustainability efforts.
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.
Georgetown University Student Demands Tuition Refund for COVID Losses
The school has reaped ‘millions of dollars’ in tuition fees after switching to online classes, despite boasting a $1.8 billion endowment, suit says.
Credit Raters Get Slammed Once Again as Too Lenient
S&P and Moody’s take it heavy in an SEC hearing. A run-up to a replay of their 2008-09 vilification?
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.
BNY Mellon Pushes into Natural Language Generation
The financial services company joins others using the artificial intelligence technology to automate reports in nanoseconds.
Norway to Withdraw Record Amount from Sovereign Wealth Fund
Economic downturn forces government to take out over $37 billion.
New York AG Investigates St. Clare’s Pension Fund Fiasco
Nearly 1,100 retirees lost their pensions or had them reduced last year.
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.
Former PBGC Official Pleads Guilty to Bribery Conspiracy
Jeffrey Donahue could face 15 years in prison for conspiracy to bribe a public official.
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.