Largest US Corporate Pension Plans Funded Ratio Rises to 92.8% in June
Despite investment loss, deficit of 100 largest corporate plans fell $23 billion.
Tag: Pension
Newsmakers
Kentucky Judge Rejects Gov.’s Pension Ruling Request
Bevin has 30 days to file an appeal with state Supreme Court.
Corporate Moves
Alaska Permanent Fund Corporation’s CIO Departs
Russell Read will start a new role in London while Marcus Frampton steps up in the interim.
Risk
Florida State Pension Fund Returns 8.99%
Preliminary fiscal-year returns add $6.8 billion to fund.
OPTrust Outlines Climate Change Investment Strategy
$15 billion fund has 7.6% of it portfolio invested in renewable energy and green real estate.
Newsmakers
Moody’s Calls Minnesota’s Pension Reform ‘Far From a Cure All’
Credit rating agencies say fixes for the severely underfunded retirement system don’t go far enough.
Risk
New Jersey Making Big Push on ESG Investing
State pension system targets arms sales, using contractors instead of employees, and foreclosures on hurricane victims.
North Carolina Establishes Employee Benefit Trust Fund
New law looks to tackle state’s $50 billion in unfunded liabilities.
Dutch Pension Divests from Korean Firm over Deforestation
APB sells off €300,000 worth of shares in Posco Daewoo due to impact of palm oil plantations.
Risk
World’s Largest Pension Fund Hits $1.4 Trillion
Japan’s Government Pension Investment Fund fails to beat its 2014 return record after fourth-quarter stock and treasury slump.
Corporate Moves
Acting CIO of South Korean Retirement Plan Leaves
Cho In-Sik departs amid search for permanent successor at No. 3 biggest public pension program.
TPR Fines Trustees for Not Reporting Unpaid Contributions
Smart Pension failed to collect and invest nearly £900,000 in pension contributions.
FCA Looks to Protect Consumers’ Pensions
UK financial body launches consultation on proposed measures to help plan participants.
Newsmakers
NJ Gov. Shifts Police, Firefighter Pensions to Unions
Moving the $26 billion retirement plan eases their concern that it may end up bailing out weaker plans.
Manager Selection
Hedge Fund Tells Kentucky Pension to Take a Hike
Davidson Kempner Capital Management takes issue with state’s code of ethics.