Canada Pension CEO Keeping “Close Eye” on Trump Infrastructure Plan

The Canada Pension Plan Investment Board is one of the world’s largest infrastructure investors, and CEO Mark Machin told Reuters his fund is paying close attention to U.S. President Donald Trump’s as-yet-unreleased infrastructure plan. Though details are scarce, Trump has said he plans to roll out a $1 trillion U.S. infrastructure program. ...

Dallas Police Officers Leaving Amid Pension Concerns

The Dallas Police and Fire Pension System is one of the most troubled pension funds in the country. It’s 45 percent funded, but has lost 15 percentage points from its funding status since 2009. As other funds raked in solid investment returns post-recession, Dallas Police and Fire has struggled; the fund returned -12 percent in 2015. Those struggles ...

Illinois Teachers’ Pension Lowers Return Assumption

The Illinois Teachers’ Retirement System on Friday voted to lower its assumed rate of return for the second time in three years. The board voted to lower the rate from 7.5 percent to 7 percent, much to the dismay of various government officials who are wary of the extra cost it will bring to the state. The news of the vote triggered more shade ...

Disgraced Ex-CalPERS Chief Jailed on Battery Charges; Bribery Sentencing Delayed

Fred Buenrostro, former CEO of CalPERS, pled guilty last year to accepting bribes during his tenure. But his sentencing for the bribery charges has now been delayed, as Buenrostro will be in jail on a different set of charges: battery. From the Sacramento Bee: Buenrostro, 66, is serving a 60-day jail sentence after being arrested twice on misdemeanor ...

Pensions Across Globe Increase Alternatives, Green Bonds

Globally, pension funds have increased allocations to alternative investment vehicles and green bonds, according to a recent survey from the Organisation for Economic Co‑operation and Development (OECD). Additionally, pensions funds have a growing interest in infrastructure – but levels of investment remain low. From Investments & Pensions Europe: Large ...

Chart: When Governments Go Bankrupt, Do Pensioners Or Bondholders Bear More Cost?

When municipalities and cities go bankrupt, who takes priority: bondholders or pensioners? The chart above, put together by Bloomberg this week, shows the recovery rates of bondholders vs. pensioners in six instances of municipal bankruptcy. There’s a reason the chart looks the way it does: pensions are typically protected by law in more than one ...

World’s Largest Pension Will Stand Pat on Asset Allocation

Japan’s Government Pension Investment Fund (GPIF) will not be altering its asset allocation in the near future, according to the fund’s new chief. The pension fund is two years into implementing a major allocation shift that saw it dramatically increase its equity holdings. More from Reuters: The country’s trillion-dollar public pension ...

Pension Fund Boards Lack Knowledge on Risk, Says Survey

A new State Street survey finds that a third of pension professionals think their fund should increase risk-taking to boost returns. But less than half of those professionals thought their boards had sophisticated knowledge of investment risk. From ai-cio.com: More than a third (36%) of 400 pension professionals from around the world surveyed by the ...
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San Diego Pension Fund Pays “Big” Price For Big Office Space

  One of California’s largest city pension funds is not only paying a “big” sum for its huge, high-end office space—it’s also locked into a long lease. An investigation by a ABC10 found that the San Diego City Employees’ Retirement System is locked into a 10 year lease for the office space it rents, and the System will pay ...

With Lawmakers In Recess and Elections On Horizon, Pennsylvania’s Pension Debate is Heating Up

Pennsylvania Gov. Tom Corbett has spent the first week of August touring the state as part of his re-election campaign, and he’s using the opportunity to hammer home Pennsylvania’s need to lower the costs of its retirement system, and tout his policy ideas on the subject. One idea that Corbett has frequently proposed is shifting some state workers ...
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