Research
Pandemic Provides Lessons to Improve Retirement System
Research paper says pandemic ‘is likely to hasten the demise’ of defined benefit plans.
Tag: Pension
Pensions
Study: There’s a Better Way to Withstand Downturns than Old DB Model
Under new set-up, a plan is over-funded, which serves as a cushion in a downturn. Any benefit cuts are only as a last resort.
Lower the Pension Plan Benchmark? Well, Not So Easy
A lot of assumed return rates are unrealistically high. But lowering them can turn a retirement program into a political buzzsaw. Some plans just say no to that idea.
Alternatives
Hawaii Makes $25M Venture Capital Investment for Local Growth
The state pension plan said local fund managers can expect to see an increase in commitments.
Newsmakers
Supreme Court Rules Pensioners in Fully Funded Plans Can’t Serve ERISA Suits
Plaintiffs charging mismanagement of funds would have received the same fixed payment regardless of investment outcomes, the ruling said.
Corporate Moves
Norges Bank Finalizes Contract with Controversial CEO Pick
The incoming chief executive will distance himself from his old hedge fund.
How Asset Allocators Are Planning Life Back in the Office
It involves apps for contact tracing, National Guard soldiers stationed at the front doors, office team rotations, and hand sanitizer stations.
Corporate Moves
Rhode Island CIO Departs for Washington Hospital System
Alec Stais informed the state pension plan last month of the move.
Coronavirus - COVID-19
New Jersey to Postpone Pension Payments
A September payment has been deferred to October, or the start of the next fiscal year, as the state makes deep cuts and deferrals to stanch revenue losses.
Pensions
Treasury OKs Benefits Cuts for Ohio, NY Union Pensions
Cincinnati roofer, Niagara Falls electrical worker plans are 16th and 17th funds affected.
Market Moves
Rhode Island Pension Plan Holds Down Losses Thanks to Treasuries, Algorithms
Although the first quarter was a wipe-out for plans, a surge in a special-strategy segment of the portfolio limited the damage in the smallest state.
Corporate Moves
CalSTRS Searches for Director of Investment Services
The position on the senior investments team will replace COIO Debra Smith, who retired this month after 24 years at the fund.
Asset Management Culture
Exclusive: Oklahoma Police Pension Employees Return to Office
Staff members will follow sanitation and social distancing protocols required by the state, the executive director said.
Pensions
Oklahoma Lawmakers Squelch Veto on Siphoning Pension Money
Legislature overrules governor’s objection to using retirement funds to meet current expenses.
Regulation
New York AG Investigates St. Clare’s Pension Fund Fiasco
Nearly 1,100 retirees lost their pensions or had them reduced last year.