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How a Former NY Pension Director Hid His Pay-to-Play Scheme

Back in 2016, an investment director at the New York State Common Retirement Fund was indicted on charges of steering pension money towards certain brokers in exchange for monetary bribes and drugs, among other things. But how did Navnoor Kang, 37, hide his funneling of millions of dollars in business to two brokers? A report, released by the New York ...
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It’s All In The Fine Print: Will Your Fiduciary Insurance Cover You When You Need It?

Carol Buckmann is an attorney who has practiced in the employee benefits field for over 30 years. This post was originally published at Pensions & Benefits Law. Will that insurer your company has been paying premiums to for all of these years stand behind you if you are sued for ERISA violations?  Have you just been relying on a broker to give ...
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All Teachers Deserve Adequate Retirement Benefits. It’s Harder Than You Think To Get Them

Chad Aldeman is an associate partner at Bellwether Education Partners and a former policy advisor at the U.S. Department of Education. This post was originally published on TeacherPensions.org. How many teachers should be eligible for adequate retirement benefits? My answer is all of them: For every year they work, teachers should accumulate benefits ...
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The Pension vs. 401k Debate Harms Teachers

This post originally appeared on TeacherPensions.org. Each year, around 150,000 new teachers are hired to work in American public schools. Those teachers might not pay much attention to their retirement except to note that they’re enrolled in their state’s pension plan. A “pension plan” sounds good, safe, and secure, much ...

OTPP Building New Careers?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Rishika Sadam of Reuters reports, Apollo Global-led investor group to buy CareerBuilder: A group of investors led by U.S. private equity firm Apollo Global Management LLC (APO) and Ontario Teachers’ Pension ...

Maverick CalPERS Board Member Won’t Run Again

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 CalPERS board member J.J. Jelincic, known for being reprimanded by fellow board members and asking frequent and detailed questions about agenda items, was expected to seek a third ...

CalPERS on PE Fees: Staff “Can’t Track It”, But Software Can

CalPERS’ pays billions of dollars in fees to external investment managers each year. But an official admitted last week that the fees are sufficiently complex that staff “can’t track” them by themselves. It was revealed at last week’s board meeting that the pension fund uses an algorithm — part of software built for ...

CPPIB Gains 11.8% in Fiscal 2017

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Jacqueline Nelson of the Globe and Mail reports, CPPIB posts strong gains as push to increase investment diversity continues: Canada Pension Plan Investment Board posted strong investment gains in its fiscal ...

New Jersey’s Big Pension Gamble?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. SNJ Today reports, Underfunded Public Pension Plans Could Hit the Lottery: Governor Chris Christie is moving forward with his plan to dedicate the state’s lottery revenues to New Jersey’s woefully ...

Chris Christie Unveils Plan to Fund NJ Pensions Through Lottery Cash; Democrats Balk

New Jersey Gov. Chris Christie last week unveiled a plan that would use lottery proceeds to pay down the state’s mounting pension obligations. The plan would make the state lottery an asset of the pension fund, generating an estimated $37 billion over the next 30 years, according to the state Treasury. However, some lawmakers — particularly ...
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