The pension fund’s board also approved contract negotiations with its current general investment consultant Cerity Partners Retirement Plan Advisors.
Big bets and letting winners run helped Danoff’s active equity fund consistently beat indexes.
A 7.3% loss from real estate investments created a drag on the pension giant’s performance.
First Brands had terminated its pension plan, so the federal agency stepped in to ensure retirees receive their full benefits.
The agency seeks to clarify investment rules, streamline withdrawal liability settlements and eliminate a contribution reallocation exception.
Many institutional portfolios are built on assumptions that may not survive the decade. Those planning ahead are building immunity.
The funded status of the 100 largest U.S. corporate defined benefit plans hit 109.6% in May, its highest since July 2001.
