OKLAHOMA CITY — Oklahoma’s two largest state pension funds say they managed to divest themselves of most of their Russian assets before the economic sanctions, minimizing losses to the taxpayers who fund them. Officials of some of Oklahoma’s large pension funds said their investment managers bought Russian-based assets before Russia’sRead More →
OKLAHOMA CITY — Oklahoma’s two largest state pension funds say they managed to divest themselves of most of their Russian assets before the economic sanctions, minimizing losses to the taxpayers who fund them. Officials of some of Oklahoma’s big pension funds said their investment managers bought Russian assets before RussiaRead More →
OKLAHOMA CITY — Oklahoma’s two largest state pension funds say they managed to divest themselves of most of their Russian assets before the economic sanctions, minimizing losses to the taxpayers who fund them. Officials of some of Oklahoma’s large pension funds said their investment managers bought Russian-based assets before Russia’sRead More →
OKLAHOMA CITY — Oklahoma’s two largest state pension funds say they managed to divest themselves of most of their Russian assets before the economic sanctions, minimizing losses to the taxpayers who fund them. Officials of some of Oklahoma’s large pension funds said their investment managers bought Russian-based assets before Russia’sRead More →
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The Caisse de depot et placement du Quebec and other pension fund managers have acknowledged or disclosed that they have invested around $100 million or more in Russia, mostly through publicly traded stocks.Christinne Muschi/Christinne Muschi/The Globe and The derussification of Canada’s largest public pension plans is nearly complete. The country’sRead More →
The pressure to divest from Russian investments is everywhere. Both from an environmental, social and governance perspective and from a prudent financial perspective, Russian assets are currently extremely high risk. But many of the largest US pension funds still have assets in the country, making them vulnerable to an evenRead More →
Band David Randall NEW YORK, February 14 (Reuters) – Seven state government employee pension funds, including CalPERS, the largest US pension plan, have taken stakes in electric vehicle startup Rivian Automotive Inc. RIVN.O in the quarter that ended Dec. 31, according to securities filings released Monday. The Texas Teachers’ RetirementRead More →
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U.S. one dollar banknotes are seen in front of the stock market graph displayed in this illustration taken February 8, 2021. REUTERS/Dado Ruvic/Illustration/ Join now for FREE unlimited access to Reuters.com Register NEW YORK, Jan 31 (Reuters) – U.S. public pension funds are likely to need to adopt more aggressiveRead More →
NEW YORK (Reuters) – U.S. public pension funds are likely to have to shift to more aggressive investment strategies in coming years to fill funding gaps despite assets held by sovereign investors reaching record levels amid the stock market boom of 2021, according to a new report. . On average,Read More →
Money from British Gas energy company staff pensions was used to buy shares in Israeli spyware developer NSO Group, which was responsible for hacking into tens of thousands of people’s devices over the years. years, revealed a report. According to FinancialTimes journal, British Gas’s retirement investment fund and parent companyRead More →
It’s one of those first global problems that we would like to have in Latin American countries: “I don’t know what to do with so much money. Although this is a caricature, the truth is that Iceland’s pension system, which has been ranked among the best performing in the world,Read More →
Three of the five pension funds in New York City’s $266.7 billion retirement systems have disposed of about $3 billion in stakes in fossil fuel companies, the city’s comptroller said Wednesday. New York, Scott Stringer. The divestment “is positive proof that environmental and fiscal responsibility go hand in hand,” Mr.Read More →
Unfunded liabilities for suburban and lower Illinois public safety pensions hit $13 billion in the latest year of compiled results reported to the state, continuing a 29-year rise that underscores high tensions on local government budgets. The unfunded tab for the 295 fire funds and 352 police funds outside ofRead More →
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Divided trustees of Pennsylvania’s $73 billion school pension fund will begin charting a future without the agency’s longtime executives at a two-day board meeting that begins Thursday. The board’s bi-monthly investment review will be the first under Robert Devine, the 23-year PSERS veteran named acting chief investment officer last weekRead More →
As banks, insurance companies and institutional investors face mounting criticism around the world for their contribution to the destruction of the planet, a report released Wednesday reveals how US public pension funds are “funding the crisis climate”. “With 10 years of data, there is hard evidence: divestment is a winningRead More →
Large funding gaps are driving pension plans to invest money in private assets in search of returns, increasing the risk of overloaded transactions and moderate earnings, a new study finds. The report from Amundi, Europe’s largest asset manager, and Create Research studied 152 defined benefit pension plans managing € 2.1Read More →
By MADISON HIRNEISENTHE CENTER SQUARE STAFF REPORTER (The Center Square) – Some California public employees will soon have to contribute more of their retirement pay after a change in the investment policy of California’s public employee retirement system. The CalPERS board of directors voted on Monday to select a portfolioRead More →
The two largest pension funds in New York City’s retirement systems have agreed to achieve net zero greenhouse gas emissions in their investment portfolios by 2040, the supervisor of New York City said on Wednesday. City Scott M. Stringer and Mayor Bill de Blasio. Administrators of the New York CityRead More →
The three Baltimore pension funds will soon have to withdraw from fossil fuels. Baltimore Mayor Brandon M. Scott, a Democrat, on Monday signed a bill requiring the $ 3.5 billion Baltimore Police and Fire Department Employee Retirement System, the employee retirement system of the $ 2.2 billion city of Baltimore;Read More →
A New York U.S. District Court judge on Thursday ruled that some lawsuits filed by a dozen institutional investors alleging mismanagement related to an enhanced return strategy managed by Allianz Global Investors could range from before. The plaintiffs alleged in the lawsuits that AllianzGI abandoned its investment and risk managementRead More →
To the ancient Greeks, Cerberus was the dog of Hades, a multi-headed dog with a serpent’s tail that prevented souls from escaping from the underworld. His eyes were burning with fiery lava and he was vomiting bile. The dog’s namesake, Cerberus Capital Management, is a private equity firm that, likeRead More →
By Alice Uribe SYDNEY – Challenger Ltd. seeks to deepen its presence in the Australian pension fund industry as part of a substantial expansion of its institutional life insurance and annuities sales in fiscal 2021. Managing Director Richard Howes said its main unit Challenger Life, Australia’s largest annuity provider, wouldRead More →
The city of San Jose’s retirement system posted its highest returns in decades thanks to a timely rebalancing amid the coronavirus pandemic. The pension fund, which is split in two, reported 29.46% for its federated city employee pension system and 26.49% for its police and firefighter pension plan, according toRead More →
Texas House passed a bill that would require state pension funds to stop investing in companies that plan to divest in some form from fossil fuel companies. The state House of Representatives voted 92-51 in favor of the bill on Monday after the Senate approved Bill 26-4 on April 15.Read More →
The three largest US pension funds are backing an offer by hedge fund firm Engine No. 1 to replace the directors of Exxon Mobil. The $ 460.8 billion California Public Employees Retirement System in Sacramento, The $ 291.7 billion California State Teachers Retirement System in West Sacramento, and the $Read More →
The California Public Employees’ Retirement System (CalPERS) is suing a former employee who allegedly stole about $ 685,000 from 10 retiree accounts, the fund said. Among the victims targeted by the former employee accused was a homeless person, as well as three beneficiaries who are under legal guardianship, according toRead More →
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The California Public Employees’ Retirement System is suing a former employee who is accused of stealing more than $ 685,000 from the dormant retirement accounts of 10 retirees, court documents Pin up. The victims include a homeless retiree, CalPERS said in a court file, as well as several people underRead More →
Being the first to do something can be difficult, especially with the weight of fiduciary responsibility still looming. But about three years after two public pension funds in Northern Virginia – the $ 4.8 billion Fairfax County Employee Pension System and the $ 1 Fairfax County Police Officer Pension System,Read More →
Environmental organizers from across the country are converging in northern Minnesota to support Indigenous Water Protectors to stop construction of the Line 3 pipeline expansion. People across the country are protesting, sending letters and call to demand that President Biden stop construction of Line 3 just as he called forRead More →
PENSION POLICY–Environmental organizers from across the country are converging in northern Minnesota to support Indigenous Water Protectors, to stop construction of the Line 3 pipeline expansion. Across the country, people are protesting, sending letters and calling to demand that President Biden stop construction of Line 3 just as he calledRead More →
This story was among Asian investors most read articles in 2021. Three of Canada’s largest pension funds, which manage a combined total of $630 billion, are hitting the Asian expansion trail hard, underscoring ambitious plans to add to their asset base in the region despite the Covid pandemic -19. Together,Read More →
New York City pension funds will invest more than $6 billion in climate change projects, surpassing their goal of $4 billion, trustees announced Tuesday. New York City Comptroller Scott Stringer, Mayor Bill De Blasio and other administrators said they plan to double investment in public companies offering alternative energy sources,Read More →
The way state and local governments keep their books is uniquely different from how the private sector operates. Public sector organizations are meant to be “perpetuaries” – never going out of business – and providing a common good. They therefore record assets and liabilities in a unique way. The sameRead More →
In 2020, each system exceeded its target. Returns ranged from a high of 14.3% at the Ohio Highway Patrol Retirement System to a low of 9.2% at the Ohio Police & Fire Pension Fund. The five systems have collectively invested $234 billion for nearly 2 million public servants, retirees andRead More →
Two of New York City’s five retirement systems pension funds will divest about $4 billion in securities tied to fossil fuel companies, city officials said Monday. The boards of the New York City Employees’ Retirement System, worth $77.4 billion, and the New York City Teachers’ Retirement System, worth $91 .4Read More →
Four leading North American pension funds helped launch the Global Peer Financing Association to advance peer-to-peer securities lending by asset owners, the group announced Thursday. Pension funds – the $396.9 billion California Public Employees’ Retirement System, Sacramento, the $94.1 billion ($72 billion) Healthcare of Ontario Pension Plan in Toronto, theRead More →
The Oklahoma legislature overruled the governor’s veto on the state budget proposal, which aims to divert money from state pension plans to fund education needs. Governor Kevin Stitt vetoed the $7.7 billion budget for fiscal year 2021, as well as two additional state House bills that he said would takeRead More →
EPS pension formula: With the EPF there are funds in the EPS that the employee can either withdraw or transfer to the new employer using the scheme certificate. What is Form 10C used for in PF? : When leaving a job, you can either have the balance of the employeeRead More →
A once unthinkable collapse in global bond yields is forcing pension funds to buy bonds offering negative yields, jeopardizing the financial security of future retirees. U.S. institutions managing trillions of dollars in retirement savings — including California’s public employee retirement system, Sacramento — $376.3 billion — cut return expectations. Japan’sRead More →
I was at a dinner party recently where I had the opportunity to speak with a teacher from New York, who was monitoring the performance of her pension fund quite well. She worried about whether, when the time came, there would be enough to fund her retirement and asked meRead More →
Dan Petrella and Rick Pearson Chicago Tribune SPRINGFIELD – Gov. JB Pritzker’s administration on Thursday released a plan to deal with Illinois’ chronically underfunded public pensions that called for injecting more money from a proposed progressive income tax, spreading out the payments over a longer period, adding $ 2 billionRead More →
Millions of Canadians have had their pension funds allocated in offshore funds – without being properly informed, according to a report released yesterday. Canadian news organization Radio-Canada conducted an investigation based on the Paradise Papers leak which says it discovered that millions of ordinary Canadians have an interest in moneyRead More →
Palm-fringed islands, balmy weather, luxury yachts moored in azure blue waters – offshore tax havens evoke a wonderland for the well-heeled and their wealth. But a CBC investigation based on the Paradise Papers leak found that millions of ordinary Canadians also have an interest in money parked in tax havensRead More →
Should pensioners be allowed to invest more in stocks? A recent report by Crisil and the Pension Fund Development and Regulatory Authority (PFRDA), titled “Financial Security for Seniors in India,” suggests so. The report identifies problems in the pension sector as low coverage, low contributions and persistence. For the unorganizedRead More →
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In recent years, traditional retirement plans, also called pension funds, have been gradually disappearing from the private sector. Today, public sector employees, such as civil servants, are the largest group with active and growing pension funds. This article explains how other traditional pension plans work. Key points to remember TraditionalRead More →
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A superannuation plan is a retirement plan that requires an employer to make contributions to a pool of funds set aside for a worker’s future benefits. The fund pool is invested in the employee’s name, and earnings on the investments generate income for the retired worker. Pension fund assets mustRead More →
Four years before the financial collapse, Goldman Sachs executive George Herbert Walker IV had much to be thankful for. “I have been fortunate enough to be part of the leadership teams of US restructuring, European privatizations, global pension management and now investments in hedge funds and private equity,” he saidRead More →
DAVOS, Switzerland – Another leading figure in the financial industry is warning major pension systems to refrain from investing retirees’ money in hedge funds. In a meeting Thursday at the World Economic Forum, billionaire investor George Soros cited the management fees charged by hedge funds as saying it is unwiseRead More →
San Francisco’s public pension fund will not cede more than $ 530 million from portfolio investments in fossil fuel companies. The board of directors of the seven-member San Francisco Employee Retirement System, which manages a $ 13 billion investment fund that pays for the pensions of city employees, dismissed callsRead More →
Larry Schloss, the low-key private equity expert who protects the pension money of New York police officers, firefighters and teachers, is quietly searching for a successor. But persuading former Wall Street colleagues and acquaintances to consider the job remains a quixotic crusade. “I had a snack or two, but it’sRead More →