Pensions
CalPERS Retirees Call for Board President to Resign
The demand for Henry Jones’ ouster is the latest fallout from the resignation of CalPERS CIO Ben Meng following complaints he violated state ethics rules.
Tag: retirement
Newsmakers
New York Pension Plan Names Navyug Patel Deputy Investment Chief
He is taking the spot vacated by Anastasia Titarchuk, who now is the program’s CIO.
Pensions
New York Common Fund Returns 10% in First Quarter
After maintaining a conservative allocation strategy, the pension fund took the three months ending in June to snatch up some equities.
Newsmakers
CalPERS CIO Ben Meng Resigns from Nation’s Largest Pension Fund
Deputy chief Dan Bienvenue will take over until the retirement system finds a replacement.
Coronavirus - COVID-19
New York Common Fund Loses 2.7% in Fiscal Year
The pension plan, which closed its books in March, had incrementally dialed up an allocation to conservative assets.
Asset Management Culture
Feuding New Mexico PERA Trustees to Create Oversight Committee
The new panel will seek to bring order to a board riven by accusations and walkouts among members in a ‘toxic’ work environment.
Manager Selection
Maryland State Pension Receives $405,000 in LIBOR Restitution from UBS
The payout settles charges that the Swiss bank manipulated interest rate benchmark during the 2008 financial crisis.
Regulation
US Bill Would Create Lost and Found for Retirement Savings
An estimated 30% of all US employees have left a retirement account at a previous employer, lawmakers say.
Coronavirus - COVID-19
UK Retirements Could Be Postponed Due to Pandemic
Research from Aviva finds that some may have to spend more of their life working because of COVID-19.
Regulation
Permission to Tap 401(k)s Worries SEC Chief
New penalty-free retirement plan withdrawals, meant as recession relief, may result in too-risky investing, Jay Clayton says.
Asset Management Culture
MassMutual Reportedly Exploring $2 Billion Sale of Retirement Services
The life insurance company apparently no longer considers the DC plans integral to its business.
Research
Pandemic Provides Lessons to Improve Retirement System
Research paper says pandemic ‘is likely to hasten the demise’ of defined benefit plans.
Regulation
Rhode Island Attorney Jailed for Collecting Pension Benefits of Deceased Client
Attorney pleads guilty to taking $234K over 12 years.
Coronavirus - COVID-19
Market Volatility Is Harming Americans’ Hopes for a Secure Retirement
Allianz Life study finds many deeply uncomfortable with the state of the virus-driven market.
How CIOs Get Leeway from the Board
Getting a board buy-in for rebalancing portfolios is tough for new investment chiefs. Veterans reveal tried-and-true practices that helped them gain some freedom.