Newsmakers
Under-Funded Colorado Retirement System Gets Some New Money
State will contribute $225 million extra annually, and both employer and employee contributions rise.
News
Why Small Caps Romped in May, Leaving Behind Large Stocks
For a change, the small-stock S&P 600 outpaced its large-cap sibling, with healthcare a big plus.
SEC Fines DeVere $8 Million over Conflicts of Interest
Regulator alleges investment firm defrauded hundreds of clients.
UK Corporate Pension Funded Levels Surge in May
The aggregate funded level of the FTSE 100 pension funds climbed to 99% last month.
$26 Trillion Institutional Group Pushes Paris Agreement Adoption Ahead of G7 Summit
Alliance concerned about agreement’s goals ‘falling short.’
Southampton University Is Closing Its DB Plan for Future Non-Teaching Members
Contributions may increase for existing beneficiaries.
Insolvency Looms Larger for PBGC Multiemployer Program
Projections now show a 90% chance the program will run out of money in seven years.
Newsmakers
Illinois OKs $423 Million Pension Bond Buyout, but Its Debt is Growing too Fast
Moody’s warns that without public cuts, liabilities will eat 30% of state income.
Regulation
Minnesota Signs Bipartisan Pension Reform into Law
New law eliminates $3.4 billion in liabilities to stabilize state’s public pension plans.
Research
Report: Australia’s Superannuation an ‘Unlucky Lottery’ for Many
Government assessment finds structural flaws, ‘entrenched underperformance.’
Risk
Romania’s Mandatory Private Pension Becomes Optional
Labor minister says everyone should have a choice concerning Pillar II.
Regulation
Rhode Island Supreme Court Upholds Pension Cuts
Court rules that suspension of cost-of-living adjustments was ‘fair.’
Newsmakers
UK Pension Watchdog Head to Step Down in February
Chief executive had faced criticism from parliamentary committees of her handling of BHS and Carillion crises.
Corporate Moves
Exclusive: New Connecticut CIO Leaves after 10 Days
Sean Crawford, former CIO of New York’s MTA, has ‘departed’ the fund.
Ontario Teachers, CalPERS-Led Team Backs SEC Study of Stock Trading Fees
Plan targets stock exchange practice that asset managers say leads to higher prices for investors like them.