Eliopoulos: Without Direct Investment Model, CalPERS’s Private Equity Class Will Shrink
CIO tells investment committee there aren’t enough top-tier firms to invest in to sustain growth.
Tag: Pension
Newsmakers
China to Shunt More Money to Ailing Provincial Pension Plans
Beijing will divert money from well-funded programs in bustling urban centers to subsidize struggling areas.
CalPERS: Board Diversity Efforts Beginning to Work
18% of US companies targeted in July 2017 now have, or have concrete plans to have, women and minority board members.
Newsmakers
Japan’s GPIF Reveals New Fee Structure
The world’s largest pension fund ‘drastically’ reduces its basic fee rate.
Risk
Canada Pension Plan Investment Board to Issue Green Bonds
The ESG-related securities will contribute to the fund’s $2.3 billion renewable energy investment plans.
Recruitment Firm Staff Posed as Temps to Opt Workers Out of Pensions
TPR says the company tried to deny workers’ pensions to avoid benefits payments.
Newsmakers
Kentucky Governor Wants to Oust Judge in Pension Lawsuit
Republican Bevin requests new jurist, claiming current one is a biased Democrat.
Discount Rate Decreases Slow S&P Pension Improvements in May
Aggregate pension debt drops by $9 billion, but combined S&P 1500 debt is still more than $2 trillion.
UK MPs Call for Mandatory Disclosure of Climate Change Risks
Parliamentary committee said a voluntary approach for asset managers would not be effective.
Newsmakers
Under-Funded Colorado Retirement System Gets Some New Money
State will contribute $225 million extra annually, and both employer and employee contributions rise.
Southampton University Is Closing Its DB Plan for Future Non-Teaching Members
Contributions may increase for existing beneficiaries.
Insolvency Looms Larger for PBGC Multiemployer Program
Projections now show a 90% chance the program will run out of money in seven years.
Newsmakers
Illinois OKs $423 Million Pension Bond Buyout, but Its Debt is Growing too Fast
Moody’s warns that without public cuts, liabilities will eat 30% of state income.
Regulation
Minnesota Signs Bipartisan Pension Reform into Law
New law eliminates $3.4 billion in liabilities to stabilize state’s public pension plans.
Research
Report: Australia’s Superannuation an ‘Unlucky Lottery’ for Many
Government assessment finds structural flaws, ‘entrenched underperformance.’