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Philadelphia Pension Board Weighs Less Costly, Less Lucrative Plan

In an attempt to ebb future liabilities, the Philadelphia Board of Pensions is considering offering a cash buyout to certain retirees, and then transferring them into a less costly, less lucrative retirement plan. The name of the new plan is Plan 87, and more than 30,000 retirees will be eligible. From the Philadelphia Inquirer: Officials have said ...

Canada’s Next Pension Challenge?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Don Pittis of CBC News reports, Now that Bill Morneau conquered the CPP it’s time to move on to a harder pension problem: Who would ever have guessed that hammering out a Canada Pension Plan solution would ...

Pennsylvania Senate Rejects Pension Overhaul

The Pennsylvania Senate on Thursday voted down a pension overhaul proposal that had earlier cleared the House. The bill was a bi-partisan pension reform bill and its scope was much smaller than past bills. From the Philadelphia Inquirer: Under the proposal the House approved this month, new hires would keep the traditional benefit plan for the first ...

NJ Pension’s Investment Policy Stalled As Trustees Deadlock Over Hedge Fund Allocation

New Jersey’s public pension system will go at least the first few months of the new fiscal year without an updated investment policy, as trustees are split over whether to cap hedge fund investments at 4 percent. This doesn’t mean investments will stop being made and monitored; but it does mean that the fund will be using last year’s investment ...

World’s Largest Pension Sues Toshiba Over Accounting Scandal Losses

Japan’s Government Pension Investment Fund (GPIF) this week sued Toshiba for losses incurred due to the company’s accounting scandal last year. Toshiba shares took a major hit during the scandal, and are still down significantly from where they were before the controversy. From Reuters: Japan’s public pension fund said it sued Toshiba Corp ...

An Agreement on Expanding the CPP?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Geordon Omand of the Canadian Press reports, Finance ministers reach agreement on expanding CPP: Most of Canada’s finance ministers reached an agreement in principle Monday to revamp the Canada Pension ...

Pentagon Released Explainer Video on New Retirement Program After Overhaul

The US Defense Department created a 3-minute video, which provides information about their new retirement system that is set to take effect in the year 2018. Pension360 has extensively covered the overhaul, which took place in 2015 and early 2016. The newly released video aims to provide a complete financial literacy campaign offer by the Pentagon ...

Chasing a CPP Consensus?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Geordan Omand of the Canadian Press reports, Revamp of Canada Pension Plan centre stage at finance ministers’ meeting: The federal finance minister says revamping the Canada Pension Plan is critical to ...

New York Pension Posts Lowest Return Since Recession

The New York Common Retirement Fund generated a 0.19% return in fiscal year 2015-16, the lowest ROI since 2009. The New York State Common Retirement Fund said that its non-US equities dropped about 8.54% from last year whereas their domestic equity investment lost .54% over the same time frame. These trends were in-line with the drop in the US and global ...

Federal Lawmakers Want the GAO To Probe Central States Pension

Dozens of federal lawmakers this week requested the Government Accountability Office (GAO) investigate the finances of the Central States Pension Fund. The fund has 400,000 members across the country and recently attempted to cut its members’ benefits in a bid to remain solvent. More from Bloomberg: Ten Democrats in the Senate and 41 in the House ...
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