Corporate Moves
General Electric Proposes Freezing UK Pension Plans
Move would affect 2,800 employees in two defined benefit plans starting in 2022.
Tag: Pension
Asset Allocation
NYC Comptroller Calls for SEC to Investigate Tyson
The Empire State’s pension system is mounting investor pressure against the poultry giant, which has been criticized for its pandemic safety practices in its plants.
Pensions
Illinois Lawmakers Pass Firefighter Pension Bill Upping Benefits
The move would add $18 million in extra inflation-adjustment benefits for its first year, expanding the liability for the poorly funded plan.
UK Asset Owners and Managers to Form Sustainability Alliance
Nest and others are discussing how to embed environmental and other worthy goals into manager disclosures and selection.
Research
US Pension Spending Supports $1.3 Trillion in Economic Output
A new report assesses the national economic impact of benefits paid by defined benefit plans to retirees.
Pensions
National Pension Service of Korea Wagers Offices, Hotels Will Recover
The world’s third largest pension fund placed a $1 billion bet on public global real estate with asset manager Russell Investments.
Asset Allocation
Funded Ratio for Canadian Pension Plans Improves in 2020
After plummeting during the first quarter, the funding level of Canadian defined benefit plans rebounded to end the year at 91.2%.
Asset Management Culture
Ontario Teachers’, Ares Buy Packaging Company
The investors will take a majority stake in TricorBraun after it reported ‘record sales’ in 2020.
Manager Selection
Breaking News: Kentucky Retirement Systems Names Steven Herbert New CIO
The asset manager and former consultant is the sixth investment chief to head the fund in about 13 years. He starts Jan. 16.
Veteran Series: How Bob Maynard Turned PERSI Around
The stickler for a conventional investing style talks about his start in the business.
Pensions
PBGC Approves Merger to Aid Struggling Multiemployer Plan
The settlement is intended to help protect 50,000 Giant, Safeway employees and retirees in the Washington, D.C., area.
Asset Management Culture
CalPERS Not Ready to Pick CIO
Several finalists have been interviewed for the top spot, but an expected January decision has been delayed.
Alternatives
CPPIB Invests $200 Million into Indonesia Logistics Joint Venture
Two partnerships with logistics real estate firm LOGOS will bring up to $1 billion of warehouses in the greater Jakarta area.
Asset Allocation
GPIF Invests $12.5 Billion in Morningstar, MSCI ESG Benchmarks
The Japanese pension giant has already started passively investing with the two US index providers.
Asset Management Culture
Veteran Series: For Matt Clark, Investing Is a Matter of Principle
A secret of the South Dakota pension plan chief’s success: putting a premium on inculcating strong values among staff members.