All Stories

U.S. Supreme Court Will Consider Reviving CalPERS’ Suit Against Lehman

The U.S. Supreme Court said Friday it will review an appeal by CalPERS that seeks to revive a lawsuit brought by the pension fund against Lehman Brothers. CalPERS lost $300 million when the bank went bankrupt, and has only recovered about $118 million from other lawsuits. Details from SFGate: [CalPERS’] suit against other underwriters and financial ...

South Korea Pension Chief Indicted for Perjury, Abuse of Power Over Samsung Merger

A month after his arrest, the head of Korea’s National Pension Service was indicted by prosecutors on Monday. Moon Hyung-pyo was indicted on charges of perjury and abuse of authority. The charges are the result of an ongoing investigation into whether Mr. Moon illegally pushed the pension fund’s board to vote in favor of a merger of two ...

Plan By Kansas Gov. Brownback Would Delay Pension Contributions

Kansas Gov. Sam Brownback budget proposal would achieve short-term savings by decelerating the state’s pension payment schedule, pushing full funding back by 10 years and raising long-term costs by $6 billion, according to retirement system officials. The budget would also cancel the repayment of $97 million that lawmakers shifted out of the pension ...

Scandal at Korea’s Retirement Giant?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Bruce Einhorn and Heejin Kim of Bloomberg report, A Scandal at Korea’s Retirement Giant: With 546 trillion won ($456.5 billion) in assets, South Korea’s public National Pension Service is the world’s third-largest ...

Legislatures in Michigan, South Carolina Draft Pension Changes in Opening Days

New classes of lawmakers in several states are making their priorities clear as new legislative sessions begin; and altering pension benefits appears to be on the docket in Michigan and South Carolina. In Michigan, the GOP majority has plans to close the state’s Teachers Retirement System to new hires, and instead shuffle those workers into a ...

Illinois Senate Passes Pension Funding Bill; Rauner Likely to Veto

A bill aiming to improve the funding levels of two distressed Chicago pension funds breezed through the Illinois Senate on Monday. But Gov. Rauner promptly sounded off on the bill, expressing his dissatisfaction and signalling a likely veto. The bill aims to boost funding of two Chicago pension funds by increasing the contribution rates of new workers. ...

Oregon Gov. Considers Bringing Pension Investing In-House; Other Changes On Table

Oregon Gov. Kate Brown was sworn in on Monday, and the state’s pension system was one of the topics touched on in her “State of the State” address. Brown said she wants to look at ways to reduce the pension system’s investment costs, possibly by bringing more investment management in-house. From Oregon Public Radio: On the issue ...

Canada Pension OPTrust To Bring Trading In-House

Following in the footsteps of its Canadian peers, the pension plan OPTrust said it plans to build a trading floor and bring more asset management in-house. OPTrust started the process back in June; it has hired seven portfolio managers and plans to hire three more. In all, about half of the fund’s total AUM of $14 billion will be managed internally. More ...

In California, Another Ruling Says Pension Set At Hire Can Be Cut

Reporter Ed Mendel covered the California Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. More stories are at Calpensions.com. A second appeals court panel has unanimously ruled that the public pension offered at hire can be cut without an offsetting new benefit, broadening support for what pension reformers ...

Weird Out West: Utah Pension Fund and Chinese Espionage? Congressman Raises Security Concerns Over Deal

Asset management and espionage are both high stakes games. So when they come together, it simply must be written about. Here’s the weird story out of Utah this week: The Utah Retirement System is (maybe?) in the process selling a hotel in its portfolio to Chinese buyers. But one California Congressman is urging the pension fund to nix the deal ...
Privacy Policy | © 2017 Pension360 and © 2014 Policy Data Institute | Site Admin · Entries RSS ·