TPR Bans Trustees for Scamming Millions from Pensions
Regulator says trustees showed “reckless disregard” and a “lack of integrity.”
News
Newsmakers
Pennsylvania Delays Pension Payments
State treasury holds up $581 million in obligations to PSERS.
Sustainability Groups “Converge on Climate Risk” with G20 Task Force Recommendations
Paper reveals how corporations can adopt transparency around extreme weather events.
Newsmakers
Harvard Endowment Returns ‘Disappointing’ 8.1% in 2017
CEO says portfolio has ‘deep structural problems.’
CalPERS to Declare Two Districts in Default
Committee proposes a reduction in benefits for state workers in two delinquent districts.
Research
Malaysia’s EPF Investment Income Surges 36% in Q2
Equities provide the main profit driver for the $181 billion fund.
Mercer: Companies Changing DB Funding, Risk Strategies Due to PBGC Premiums, Capital Markets
Nearly 80% of all respondents are now contributing more than the minimum level of funding to their DB plans, survey says.
Corporate Moves
Adams Street Partners Taps Alicia Pando as CTO
Pando to lead software development, IT infrastructure responsibilities.
Survey: Gap Between Retirement Expectations and Reality ‘Stark’
Only 14% of workers around the world have a written strategy for retirement.
LACERA CEO to Retire in October
Assistant executive officer to become interim CEO.
Research
Dartmouth Endowment Returns 14.6%, Hits New High
College’s investment portfolio rebounds after losing 1.9% in 2016.
Newsmakers
MOSERS Board Approves New State Budget Contribution Percentages
Actuaries debunk treasurer’s “crisis” warning.
UK Pension Costs Hurt Salaries
Report says 53% of UK employers believe defined benefit plans negatively impact salary raises.
Preqin: IT-Focused Funds Deliver Strong Performance, Industrial Sector Lags
Buyout funds return strong over the long term.