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Retirement Plan Costs Hit New Low As Sponsors Renegotiate Fees: Survey

The vast majority of plan sponsors have renegotiated record-keeping fees since 2013, according to a survey conducted by consulting firm NEPC. Retirement plan costs are lower than at any point in the survey’s history. Details from PlanSponsor: Since 2013, 81 percent of the 117 plan sponsor respondents report having renegotiated their recordkeeping ...

In California, New Ruling Called ‘Existential Threat’ to Pensions

Reporter Ed Mendel covered the Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. More stories are at Calpensions.com. The views of two CalSTRS attorneys show how an appellate court ruling weakening the “California rule,” which prevents changes in the pension promised at the date of hire, has alarmed ...

Did the Bank Of Japan Save or Kill DB Pensions?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Robin Harding of the Financial Times reports, BoJ launches new form of policy easing: The Bank of Japan has launched a new kind of monetary easing as it set a cap on 10-year bond yields and vowed to overshoot ...

Outgoing CalPERS Chief Actuary: Lower Discount Rate By February

CalPERS chief actuary Alan Milligan, who is retiring, told top fund officials on Tuesday to consider lowering the fund’s discount rate to 7.25% by February. CalPERS’ discount rate currently sits at 7.5%. Milligan’s most recent report predicts a period of lower (6-ish percent) annual returns over the next ten years. More from the LA ...

CalSTRS CIO Talks Missing Return Target, Problems Facing Fund

CalSTRS CIO Chris Ailman joined Bloomberg this week to discuss his fund missing its return target for a third consecutive year; and other problems facing the pension fund. See the video, above. Video credit: Bloomberg

Video: CalSTRS CIO Ailman Talks Dumping Thermal Coal; Fed Rates

CalSTRS CIO Chris Ailman joined Bloomberg this week and tackled several topics: the pension fund’s decision to dump thermal coal assets (video above), a move announced back in February; and Federal Reserve interested rates (video below). Video credit: Bloomberg

California’s Pension Gap?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Jack Dolan of the LA Times reports, The Pension Gap: With the stroke of a pen, California Gov. Gray Davis signed legislation that gave prison guards, park rangers, Cal State professors and other state employees ...

Illinois Pension Board Axes All Active Managers

The Illinois State Board of Investment, which oversees several state pension funds, voted on Thursday to axe all active managers in the portfolio of the state-administered 401(k) plan. About 52,000 residents are enrolled in the defined contribution system, which can be chosen by workers instead of a traditional defined benefit. The shift came down to ...

Chicago Pension Tax Gets Final Approval

A tax on sewer and water usage, revenues from which will go to Chicago’s four pension funds, received final approval from city lawmakers on Wednesday. This move comes on the heels of several other tax hikes designed to help improve the funding of the city’s pension funds, which are flirting with insolvency. From Reuters: The tax, passed ...

Great News For Ontario’s Teachers?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. The Ontario Teachers’ Federation put out a press release, Surplus funds will further restore inflation protection for retired teachers: The Ontario Teachers’ Federation (OTF) and the Ontario Government, ...
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