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CalSTRS Gains 1.4% in Fiscal 2015-16

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Timothy W. Martin of the Wall Street Journal reports, Giant California Teachers Pension, Calstrs, Posts Worst Result Since 2008 Crisis: The nation’s second-largest public pension posted its slimmest returns ...

Large 401(k) Plans Don’t Use Recordkeepers’ Target Date Funds: Survey

Larger 401(k) plans are more likely to keep their recordkeeping and asset management separate, according to a study. The report from SEI Industries Co., suggests that smaller plans are more likely to use their recordkeepers’ proprietary target-date funds. According to Benefits Pro: More than two-thirds of plan sponsors with more than $1 billion in ...

Moody’s Director: Chicago “Has Time” To Reverse Pension Debt Trajectory

A managing director for Moody’s Investors Service said that even as Chicago’s pension debt has climbed to $33.8 billion amid numerous credit downgrades, the city still has time to “reverse the trajectory of the pension problem.” In an article in Bloomberg: “Time is not about to run out for Chicago,” [Naomi] Richman said during a panel at ...

Pennsylvania Auditor to Probe State Pensions for Efficiency, Transparency

Pennsylvania’s General Auditor Eugene DePasquale said on Monday he plans to conduct audits of the state’s two major public pension systems. The audit will probe into the funds’ use of outside investment managers and the fees paid to those managers. From PennLive: DePasquale said it is timely now to do an independent stress test of the ...

Italy’s Pension Funds Pressured to Fund Bank Bailout

EU stress tests are expected to show that one of Italy’s largest banks is in dire straits. In anticipation, the Italian government is asking a group of pension funds to invest in a state-sponsored fund that would buy the bank’s bad loans. Some reports suggest the pension funds could invest up to $550 million. From Reuters: Monte dei Paschi (BMPS.MI), ...

PSP Investments Gains 1% in FY 2016

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Rob Kozlowski of Pensions & Investments reports, PSP Investments returns 1% for fiscal year: Public Sector Pension Investment Board, Montreal, returned 1% in the fiscal year ended March 31, a news release ...

CalPERS Smears Lipstick on a Pig?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Timothy W. Martin of the Wall Street Journal reports, Calpers Reports Lowest Investment Gain Since Financial Crisis: The largest U.S. public pension posted its lowest annual gain since the last financial crisis ...

bcIMC Dips 0.2% in Fiscal 2016

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Canada News Wire reports, bcIMC Reports Fiscal 2016 Annual Returns: British Columbia Investment Management Corporation (bcIMC) today announced an annual combined pension return, net of costs, of -0.2 per cent ...

Employers Spooked By Perceived Cost of Automatic 401(k)s, Says Study

Fewer employers are offering auto-enrollment and auto-escalation for new employees, according to a study by the Society for Human Resource Management. Why? The answer is simple: the potential cost of such policies. From Bloomberg: By sparing workers extra paperwork—and making the investment decisions they didn’t feel qualified to make—auto-enrollment ...

Seeking New Management: Mass. Gov. Baker Wants State Pension to Take Over Troubled “T” Pension Fund

Massachusetts’ “T” Pension Fund — the retirement system for employees of the Massachusetts Bay Transportation Authority — has made headlines in recent years for its unprecedented secrecy and exemption to public records requests. It’s a private trust, and doesn’t qualify for the same disclosure rules as public pension funds. But ...
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