Newsmakers
PwC Rebukes Hong Kong Pension Fund
Review says underperforming Mandatory Provident Fund is overdue for an overhaul.
Tag: Pension
Corporate Moves
CalPERS Appoints Asubonten as CFO
Interim CFO to return to previous role, become part of executive leadership team.
TPR Bans Trustees for Scamming Millions from Pensions
Regulator says trustees showed “reckless disregard” and a “lack of integrity.”
Newsmakers
Pennsylvania Delays Pension Payments
State treasury holds up $581 million in obligations to PSERS.
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.
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.
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.
Newsmakers
Missouri Treasurer: State Pension Crisis ‘Is at our Doorstep’
Suggests MOSERS lower expectations, investment fees.
Moody’s: US State Pension Liabilities Spike to $1.3 Trillion in FY 2016
Illinois, Alaska, and Connecticut among largest unfunded liabilities.
Newsmakers
Penn SERS Returns 3.3% in Q2
Board approves up to $700 million in private equity, multi-strategy real estate commitments.
IRI: Americans Are Not Prepared for Retirement
Report finds less than half of Baby Boomers and GenXers have any retirement savings.
Research
Milliman: Corporate Pensions Report Largest Monthly Loss in August
Funded ratio falls to 83% for month, but is up from 77% in 2016.