The proposed pension reform would affect workers hired after Sept. 1, 2022.
Fund principals allegedly pocketed nearly $2.7 million in illicit payments.
The change will save the troubled medical benefits programs $754 million over the next five years.
The fund’s new CIO Jase Auby describes the portfolio’s new path forward.
An actuarial valuation report cites the plan’s risk of going insolvent by 2075.
Global equities spur 3.2% return for second quarter.
Paul Ballard approached investing with an eye for uncorrelated sources of return, ran the $80 billion sovereign wealth fund since 2003.
Along with Carl Icahn, oil tycoon T. Boone Pickens invented the corporate raider concept.