PBGC Pays Out $5.6 Billion to Retirees of Failed Plans in 2017
Total amount paid remains the same as the number of retirees rises.
News
CIO NextGen: Send Us Your Nominations for the Up-and-Coming Leaders Reshaping the Industry!
Taking our unique mission of serving the asset owner community to the next level, CIO launched its DigitalFIRST strategy this year. As we continue to make community and interactivity...
Newsmakers
Chicago Public Schools Sinks $1B Deeper in Debt
Estimates cite lackluster returns, Gov.’s spending plan as causes of debt hit.
Asset Management Culture
Japan’s Government Pension Fund Changes Fee Structure
The move is aimed at providing an incentive for active managers to boost returns.
Regulation
Union Says University Pension Cut Violates Pension Benefits Act
Lawyers for striking Carleton University workers say 2003 amendment broke a provincial pension law.
FCA Proposes Pension Risk Transfer Changes
Watchdog considering banning ‘contingent charging.’
UK Proposes Resolution to Resolve UCU Pension Dispute
Proposal calls for guaranteed pension comparable with current plan.
Regulation
KY Pension Reform Unlikely in Last Days of 2018 Session
State budget bill still on track.
Risk
Connecticut Pension Funds Return More Than 16% in 2017
The state’s retirement plans and trust funds increased by $4.2 billion to $34.4 billion.
Risk
Texas Teachers’ Albright Seeks Canadian Model Adoption
Plans to supersize internal staff, cut external costs by at least $600 million.
OMERS Infrastructure Inks Deal with Leeward Renewable Energy
Fund allocated 16% of its portfolio to infrastructure.
Corporate Moves
University of Georgia Foundation Names Jason Bull as First CIO
Bull joins Georgia from Emory University, where he was the endowment’s managing director.
Research
PEW Report Determines How Detroit Can Keep Pension Promises
Report says Detroit’s contribution policies will suffice if investment returns meet assumptions.
Warburg, Disruptive Capital Launch UK’s First Pension Consolidation Fund
The private equity firms are providing £500 million to seed the ‘superfund.’
Melrose Woos GKN with £1 Billion Pension Injection in Takeover Bid
Investment firm says current merger plan will leave GKN with £3 billion in pension liabilities.