Regulation
Here’s How to Boost Tax Collection, Says Larry Summers
Increase IRS audits, which are shrinking. This would help narrow the budget deficit, ex-Treasury secretary contends.
News
Market Moves
Canada’s CPPIB Returns 2.3% in Q2 Fiscal 2020
Total asset value of fund rises to C$409.5 billion.
Manager Selection
Breaking News: Washington State Investment Board Names New CIO
Allyson Tucker will replace Gary Bruebaker, who served as CIO since 2001.
News
UK Nursery, Recruiter Plead Guilty to Misleading TPR
Regulator said firms lied about providing pensions for their workers.
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FedEx to Close Pension Plan to New Employees
Move comes on heels of report that firm paid $0 in taxes in 2018.
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Los Angeles Explores Direct Infrastructure Investment Strategy for Local Projects
LACERA expands its analysis of alternative investment strategies to engage with the real asset class for the first time.
News
3rd Year of a President’s Term Is Best for Stocks, Report Says
The odds are highest, at 82%, the S&P 500 will be up, per Bespoke.
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Oregon Pension Stung by Investments in Socially Irresponsible Companies Via Index
Associated Press reports Oregon State Treasury invested in index that contains smartphone spyware company.
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SEC Wants to Protect Teachers, Military Members from Getting Duped
New program would help employees avoid falling victim to securities fraud.
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Global Pension Funding Gap to Hit $15.8 Trillion in 30 years
Report warns of 'severe crisis' facing governments worldwide.
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Millennial Sues Australian Pension Fund over Climate Change Risks
24-year-old says fund broke the law by not providing information about climate change risks.
News
The Next Buzzy Stocks Are … Utilities
T. Rowe Price says plodding sector is perking up, thanks to renewables.
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Move could boost returns by $2.5 billion over five years.
Illinois Passes Police, Fire Pension Consolidation Bill
Move could boost returns by $2.5 billion over five years.
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Sheet metal workers’ union becomes 15th fund to be cleared to cut benefits.
Treasury Approves Benefits Reduction for Michigan Pension
Sheet metal workers’ union becomes 15th fund to be cleared to cut benefits.
Kentucky Retirement System’s Unfunded Liabilities Continue to Soar
Longer life expectancies and lower than expected employee turnover figures contribute to the state’s pension woes.