Corporate Moves
San Diego County CIO Stephen Sexauer Takes Over as Interim CEO
The investment chief said he plans to return to his role once the search is over.
Tag: Pension
Pensions
California Pension Spiking Case Nears End in Court Showdown
Public sector workers want to strike down a provision that stops them from winning higher benefits in retirement.
Tough Task: Recruiting Talent for Corporate DB Plans
The small pool of top job openings and the often lower pay than on Wall Street are challenges. Still, doing good and buoying an underfunded plan are strong appeals.
Coronavirus - COVID-19
Pandemic Blots One Year’s Worth of Gains from Canadian Plans
Corporate, public, and university funds lost a median 7.23% in the first quarter from falling equities, BNY Mellon says.
Pensions
Denver Retirees Ordered to Return $11 Million in Benefits
A local investigation found overpayments ranging from $3,000 to $3 million to be recouped.
Research
Funding for Corporate Plans Ticks Up After Record April
Aggregate funded ratio for company pension funds rose 2.2 percentage points, the first monthly uptick this year, Wilshire report finds.
Research
UK Corporate Pension Funding Hammered by Pandemic in April
FTSE 350 company plans swing to £52 billion deficit from £10 billion surplus during the month.
Coronavirus - COVID-19
State Pension Funding Drop to Lowest Level in 30 Years, Wilshire Says
Public plans were 62.6% funded in the first quarter after the coronavirus wiped out 12.2 percentage points.
Market Moves
New Jersey Likely to Cut Pension Contributions, S&P Global Says
The credit ratings agency downgraded the state one notch, to A-, and gave it a negative outlook.
Pensions
Canadian Defined Benefit Plans Have Worst Quarter in 12 Years
RBC and Northern Trust report plans lost 7.1%, the steepest drop since 2008.
Pensions
Judges Reject Dallas Retirees’ Push to Restore Lump-Sum Payouts
Federal appeals court ruling is boon to ailing police and firefighters’ pension system.
Corporate Moves
Japan’s GPIF Seeking Active and Passive Managers for Foreign Bonds
The giant pension fund seeks to diversify away from low-yield Japanese bonds.
Asset Allocation
New York Pension Fund to Supplement Federal Small Business Loans
The state hardest hit by the coronavirus is bolstering relief efforts.
Asset Management Culture
State Education Budgets Fail to Keep Up with Pension Costs
Report says paying for pensions should come from sources other than education budgets.
Opinion
Op-Ed: U.S. Public Pension Underfunding—Don’t Make the Same Mistake Thrice
As some lawmakers suggest states consider declaring bankruptcy, governments will be tempted to cut back on pension contributions. Amundi Pioneer senior adviser Charles E.F. Millard urges them not to do so.