Chicago Moves to Consolidate More than 650 Pensions
Task force cites lower overhead costs and access to larger pools of capital as benefits to the potential mergers.
Risk
Fisher Fallout Could Top $2.6 Billion
Investors continue to divest from Fisher Investments after founder’s allegedly sexist remarks.
PBGC Takes Over Bankrupt Verity Health System’s Pension Plans
Pension insurance to assume benefit payments for 8,000 members.
ElectroCore Faces Class Action Headache
Complaint alleges firm misled investors over migraine medicine.
AT&T Plan Members Sue Over Early Retirement Calculations
Complaint says media giant shortchanged participants who retired early.
Princeton, Columbia Endowments Return 6.2%, 3.8%
Investment portfolios for both return less than half as much as last year.
Virginia Will Lower Assume Rate of Return for Its Retirement Fund
The state’s system will make changes to asset allocations and benchmarks, too.
Baxter De-Risks $2.4 Billion in Pension Liabilities
Annuity contract with Prudential to transfer benefits for 17,200 members.
Boston Pension Fund Sues Chemours Over Environmental Liabilities
Lawsuit claims firm misled investors about ‘massive’ liabilities as stock lost half its value.
The University of California Pension Fund Lowers Expected Rate of Return
The giant fund is succumbing to lower inflation assumptions.
New General Electric CIO Freezes Pension Fund
The new chief investment officer has been overseeing the underfunded plan for two weeks.
Michigan Pension Fund Seeks Benefits Reduction
Detroit Carpenters plan to become insolvent in 15 years without government intervention.
Falling Bond Yields ‘Warning Sign’ for Canadian DB Plan Sponsors
Aon says the window for de-risking opportunities ‘seems to be closing.’
UK Pension Lifeboat to Protect Thomas Cook Pension
Plan participants will likely see reduced benefits after the 178-year-old travel firm collapse
SEC Charges Three in Alleged $125 Million Fraud
Managers allegedly lied to investors, used funds to support ‘luxurious lifestyle.’