Newsmakers
States Improved Their Economies in 2021, a Plus for Public Pension Plans
Florida ranks at the top of the economic heap, Louisiana at the bottom, says Conning survey.
Tag: Contributions
Newsmakers
Providence, Firefighters Union Reach Pension Contribution Deal
Plan participants will contribute up to 16% of their salary under a five-year agreement with city.
Market Moves
Good News for Company Plans: Need for More Contributions Is Dwindling
Corporate tax reductions and strong investment returns have put pension plans in a good place, a NISA study finds.
Pensions
Sanofi Agrees to Bolster Pension, Match Dividends with Plan Contributions
TPR pressures French biopharmaceutical company to boost UK defined benefit plan funding.
Asset Management Culture
PSERS Trustees Yank Their Request to Oust Executive Director, CIO
Board members at the beleaguered pension fund withdrew their call for a vote of termination at Friday’s meeting.
Asset Management Culture
Six Pennsylvania PSERS Trustees Seek Termination of Executive Director, CIO
The board members are asking that a vote of no confidence be called at Friday’s pension board meeting.
Pensions
FBI Said to Seek Evidence of Kickbacks, Bribery at Pennsylvania PSERS
State’s largest pension fund has reportedly spent over $1 million for reporting error damage control.
Pensions
State Contributions Worry Kentucky Trustees Once More
At lowest funded US public pension fund, the same percentage of active worker payrolls will not net the same level of contributions as in the past.
Research
Boeing Is Now a Conviction Buy, Says Goldman Sachs
Despite continued woes, the aerospace giant should do well in a post-virus world, when plane deliveries resume and the 737 Max is flying, the bank contends.
Asset Management Culture
Public Pensions Face a COVID-19 Conundrum
Scholars disagree over how to deal with the threat of exhausting a plan’s assets.
Corporate Moves
At Least Boeing’s Stock Isn’t in Its Pension Plan Anymore
Controversial 2017 contribution of $3.5 billion in company shares to the retirement program apparently was divested, long before the current share-tanking mess.
Pensions
Public Pension Fund Debt Expected to Reach ‘All-Time High’
Retirement systems will struggle with meeting their required contribution targets, Pew report says.
Pensions
Chilean President Pitches Reform in Wake of Deadly Pension Protests
Under a new proposal, 6% in new contributions would be made by the country’s employers to sustain retired citizens above the poverty line.
Risk
Texas ERS Could Become Insolvent 20 Years Earlier than Previously Anticipated
An actuarial valuation report cites the plan’s risk of going insolvent by 2075.
Asset Management Culture
Corporate DB Funding Level Nudged Upward in 2019
Large company plans gain a point, to 87%, Willis Towers Watson says.