Newsmakers
Chicago Mayor Avoids Pension Mess in Final Budget Speech
Emanuel touts deficit shrinkage, but a still-whopping $28 billion hole awaits his successor next year.
News
Risk
Ohio Retirement System Lowers Assumed Rate of Return
Fund is cutting the rates for public employee and healthcare plans due to lower market expectations.
Newsmakers
PBGC to Cover ‘Vast Majority’ of Sears Pension Benefits
Pensions lifeboat says it’s prepared to provide for 90,000 retirees and workers.
Newsmakers
Treasurers Demand Zuckerberg Quit as Facebook Chairman
Social network CEO shouldn’t have dual role, say financial officials from NYC and three states, backing Trillium plan.
TPR Fines Trustees for Not Investing Savings Promptly
Failure to invest £1.4 million for three years affected more than 9,000 Salvus Master Trust plan members.
Investors Mixed on AI Helping, Replacing Jobs in 2025
Tech has low adoption, but Fidelity’s CIO says it’s ‘still early days.’
Asset Allocation
HSBC UK Pension Plan to Invest $328 Million in Renewables
Bank wants enough onshore solar and wind energy to power an Oxford-sized area.
Asset Allocation
Penn State Endowment Returns 7.8% in 2018
Performance is among the lowest reported by other major public universities so far this year.
Funded Ratio for Corporate Pensions Hits 10-Year High
The 100 largest company pension plans gained $21 billion in September.
Regulation
Italy Moves to Lower Pension Eligibility Age in Budget Proposal
European Union has to approve the measure, which is aimed at making room for younger workers.
Research
GPIF Could Use AI to Determine Manager Selection
The $1.4 trillion pension fund’s Sony Computer Sciences collaboration could help radically change the industry.
Newsmakers
Romania to Double State Pensions by 2022
Government plans to boost pension spending to $35.2 billion in four years.
Risk
Washington State Investment Board Returns 10.04%
The returns beat pension system peers and are the result of the investment organization’s large commitment to private market investments.
Exclusive: San Francisco Pension System Approves Divestment of Five Fossil Fuel Companies
Stock of Hess Corp. will be divested along with other energy companies if they don’t justify oil and gas reserves and stop denying climate change.
Newsmakers
Italy’s Pension Head: Early Retirement Age Idea Would Be a Costly Mess
Although the measure seeks to open up the job market to younger generations, Tito Boeri says it could increase their pension debt by ‘about 100 billion euros.’