PBGC to Provide Furniture Workers’ Plan Early Financial Assistance
Approval is the first under the Multiemployer Pension Reform Act of 2014.
News
Newsmakers
“Historic” Chicago Education Funding Reform Signed
SB 1947 to provide relief for cash-strapped school districts as well as employee retirements.
Treasurer Mistake Causes Dead Woman to Receive $73K in Postmortem Pensions
An unreported death cost Wilmington, Delaware, 20 years’ worth of unnecessary spousal benefit payments.
NY State Employer Pension Contribution Rates to Drop
Comptroller says strong investment returns are keeping rates stable.
Newsmakers
Six Biggest Banks Band Together to Build Bitcoin Competitor
The new “utility settlement coin” to operate under blockchain technology.
Research
Danish Pension ATP Reports Strong First Half
Investments returned 14.6%, giving the fund its best half-year performance in five years.
TrimTabs: Corporate Stock Buybacks Continue Downward Trend in Q2
Corporate America is uncertain about the outcome of Trump’s corporate tax proposals, which analysts expected to boost stock buybacks.
Newsmakers
Romania May Lower Private Pension Contributions
Government considers redirecting private pension funds into state pensions.
EAPF’s CIO Mark Mansley to Head Brunel Pension Partnership
The CIO will go from a £3.5 billion fund to one worth £25 billion.
Research
Report Paints Bleak Picture of Kentucky Pensions
Governor says report finding the state’s pensions among the worst funded confirms the urgency for reform.
Brennan & Arch Street Joint Venture to Focus on Net-Leased Industrial Properties
The venture is looking to invest as much as $300 million in major US markets, and has obtained a line of credit from Goldman Sachs.
FTSE 100 Pension Liabilities Increase by £95 Billion
Report shows that pension closures continue at the UK’s largest companies.
Research
Dutch Pensions Continue to Dwindle from Consolidation
The number of plans in the Netherlands has plunged 75% in 20 years.
CIO Announces Innovation Awards Finalists
8th Annual Innovation Awards nominees list was honed by asset owners and consultants representing $1.2 trillion in assets under management.
Aon Launches Hurricane Harvey Flood Insurance Product
Each risk to contain policy terms up to one year.