Pensions
NY State Assembly Passes Mandatory Auto-IRA Bill
The amended ‘Secure Choice’ program would apply to companies with 10 or more employees.
Tag: New York
NY Attorney General Seeks to Shut Down Cryptocurrency Trading Platform
Coinseed is accused of ‘depleting accounts,’ and transferring funds to an offshore, unregulated platform.
Pensions
NYC Council Passes IRA Auto-Enrollment Bills
The legislation would establish a mandatory retirement savings program and a board to oversee it.
Asset Management Culture
New York City Comptroller: Ax Rule Forcing Private Equity to Pay Legal Bills
Mandate now forces PE operators to cover their own litigation tabs in disputes, instead of passing along the costs to NYC pension fund investors.
Asset Allocation
New York State Pension Fund Returns 6.2%
The state retirement system broadly outperformed US pension funds in the third quarter.
Alternatives
New York State Pension Doubles Down on Alternatives
C-band spectrum, collateralized loan obligations, and solar and wind power are among the largest allocations the fund made in September.
Pensions
Conservative Think Tank Calls for NYC Pension Reform
Manhattan Institute recommends moving to defined contribution plans and consolidating funds.
Corporate Moves
New York Times Makes $235 Million Pension Risk Transfer to MassMutual
About 1,850 affected retirees will continue to receive payments from the life insurer.
Alternatives
New York State Pension Expands into Real Estate, Absolute Return
Commercial real estate in the Nordic region, suburban garden style apartments in the US are among the $565 million in bets the pension fund placed in August.
Newsmakers
New York Pension Plan Names Navyug Patel Deputy Investment Chief
He is taking the spot vacated by Anastasia Titarchuk, who now is the program’s CIO.
Pensions
New York Common Fund Returns 10% in First Quarter
After maintaining a conservative allocation strategy, the pension fund took the three months ending in June to snatch up some equities.
Coronavirus - COVID-19
New York Common Fund Loses 2.7% in Fiscal Year
The pension plan, which closed its books in March, had incrementally dialed up an allocation to conservative assets.
Why Offices, Abandoned as a Virus Risk, Will Be Back
If the health hazards are resolved, look for a reverse exodus. That’ll benefit battered office REITs.
Regulation
New York AG Investigates St. Clare’s Pension Fund Fiasco
Nearly 1,100 retirees lost their pensions or had them reduced last year.
Asset Allocation
New York Pension Fund to Supplement Federal Small Business Loans
The state hardest hit by the coronavirus is bolstering relief efforts.