Regulation
NJ Pension Fund Trustee Sentenced for Embezzling over $360K
Founder and trustee of a vending machine company’s pension sentenced to two and a half years in federal prison.
Tag: retirement system
Pensions
Chilean President Pitches Reform in Wake of Deadly Pension Protests
Under a new proposal, 6% in new contributions would be made by the country’s employers to sustain retired citizens above the poverty line.
Risk
Ohio’s State Pension Slashes Healthcare Benefits amid Insolvency Concerns Threat
The board at OPERS voted to reduce medical benefits to avoid collapse by 2030.
Pensions
Tax Cuts Could Come Back to Haunt State Retirement Systems
Report urges states to close tax loopholes to avoid cutting pension benefits.
Regulation
Arizona’s State Pension Contends With ‘Very Troubling’ Accounting Errors
Audit reveals a lack of internal controls may have misappropriated funds within the retirement system.
Asset Management Culture
Arizona State Pension Is Headed for ‘Complete Desperation,’ Research Group Warns
Pension’s unfunded liabilities making it difficult to hire, retain teachers.
Risk
Can Marijuana Help Solve Kentucky’s Pension Woes?
Lawmakers assert legalization is a ‘win-win situation for everyone involved,’ and advocate for a quick approval.
Risk
Kentucky Makes Changes to Free Pension from Funding ‘Death Spiral’
Proposed liability-based model would protect employers from contribution rate increases.
Newsmakers
France’s Chief Pension Reform Official Resigns Amid Protests
High Commissioner for Pensions Jean-Paul Delevoye resigns after failing to publicly disclose other positions he held, which potentially lead to conflicts of interest.
Kentucky Retirement System’s Unfunded Liabilities Continue to Soar
Longer life expectancies and lower than expected employee turnover figures contribute to the state’s pension woes.
Newsmakers
Defeated CalPERS Board Candidate Says Election Was Rigged Against Him
Former board member J.J. Jelincic protests the October 17 election, claims CalPERS team plotted to thwart his candidacy.
Asset Management Culture
Pennsylvania Inches Closer to Forming a New $83 Billion State Investment Office
State lawmakers aim to narrow a pension funding gap by merging investment activities.