CalPERS, Exxon Shareholders Celebrate Big Win for Climate Change Reporting
Proposal #12 passes in a 62.3% proxy vote by Exxon Mobil shareowners.
News Archive: May - 2017
Risk
Eight Largest Pension Systems Will Have $400 Trillion Gap by 2050
World Economic Forum warns of “imperiling the incomes of future generations.”
Regulation
Treasury Rejects Benefits Cuts for Automotive Industries Pension Plan
Fund faulted for using assumptions that contradicted its own information.
Pennsylvania Watchdog Slams ‘Unfair’ Pension Fees
The state’s Public School Employees’ Retirement System says the returns justify the fees.
Risk
Sears Transfers Pension Liabilities to MetLife in “De-risking” Move
Beginning August 1, 51,000 participants will receive benefit payments from MetLife.
Newsmakers
CalPERS Urges Exxon Shareowners Vote “Yay” on Climate Change Proxy May 31
Proposal #12 looks to enhance reporting on impact of oil and gas reserves under 2-degree target and review long-term impacts.
Risk
Chicago Public Schools to Borrow $389 Million to Fund Pension Plan
School district is required to pay pension fund $716 million by June 30.
CPPIB Reaches C$316.7 Billion in FY 2017 – One of Largest Increases of the Fund
Annual return of 11.8% matches five-year average.
UK Seeks to Remove Triple Lock, Create Sovereign Wealth Funds
Conservative Party manifesto calls for changing the triple lock to a double lock.
Rhode Island Approves Assumption Changes
Treasury says lowering investment, inflation assumptions will avoid $500 million shortfall.
Texas Legislature Passes Houston Pension Reform
Houston firefighters’ pension opposes the bill, and is considering legal action.
Ten-X Sees Some Markets Bucking Retail Downturn Trend
Texas, Florida cities seen as best markets for retail property investors.
UK BMW Workers Suspend Strikes to Mull Over Pension Offer
British employees of the automaker have been on industrial action since April.
British Airways Loses Lawsuit Against Pension Trustees
Judge rules pension was within right to add discretionary increases.
NY Teamsters Pension Fund Reapplies for Benefits Cuts
New application raises return assumptions and lowers proposed reductions.