Search Results for: pension loans

Court Dismisses Pensions’ Lawsuit Against BNY For Housing Crash Losses

An appeals court has dismissed a lawsuit brought by a handful of public pension funds against BNY Mellon. The lawsuit stemmed from investment losses on mortgage-backed securities and BNY’s alleged neglect to properly evaluate the quality of the securities. From BenefitsPro: The U.S. Court of Appeals for the 2nd Circuit has upheld a lower court’s … Continue reading Court Dismisses Pensions’ Lawsuit Against BNY For Housing Crash Losses

New York Teachers Pension Invests $140 Million in Retail, Office Properties

The New York State Teachers Retirement System (NYSTRS) has committed a total of $140 million to three real estate funds that invest in retail, office and apartment properties. From IPE Real Estate: The [New York State Teachers Retirement System] has committed $40m to the Edens Investment Trust alongside $50m allocations to Madison Realty Capital’s Debt … Continue reading New York Teachers Pension Invests $140 Million in Retail, Office Properties

Africa’s Biggest Pension Fund Has $800 Million Tied Up In Failing Bank

Public Investment Corp (PIC), the entity that handles money for Africa’s largest pension fund, has $800 million tied up in the failing African Bank Investments Ltd (ABIL), which collapsed in August. PIC injected $440 million into the bank this month as part of a bailout project. The fund already had a $300 million ownership stake … Continue reading Africa’s Biggest Pension Fund Has $800 Million Tied Up In Failing Bank

More Than 1 in 8 Seniors Targeted by Pension Scams in UK

New research by Fidelity has revealed that 13 percent of seniors in the UK have been targeted by scammers looking to steal pension benefits. From AOL Money: [The scammers] promise their victims that they can free up money tied up in their pension before they hit the age of 55 – and get their hands … Continue reading More Than 1 in 8 Seniors Targeted by Pension Scams in UK

Missouri Law Bans Pension Advances, Helps Retirees Recoup Losses

Pension360 covered last week the rising business of pension advances—businesses that apply the concept of a payday advance to retirement benefits by giving retirees an option to receive their pension as a lump sum. But Missouri recently passed a bill that outlaws the practice and gives retirees a chance to take legal action against the … Continue reading Missouri Law Bans Pension Advances, Helps Retirees Recoup Losses

Russia Diverts Pension Contributions To Plug Other Budget Holes

For the second straight year, Russia has decided to freeze its contributions to its pension funds and instead use the money to plug budget holes elsewhere. Russia says the money will be used for more pressing needs elsewhere in the budget. But critics claim the action could be a costly one. Russia Beyond The Headlines … Continue reading Russia Diverts Pension Contributions To Plug Other Budget Holes

Illinois, Kentucky Pension Funds Benefit From $17 Billion Bank of America Settlement

A handful of pension funds will be receiving large chunks of change after Bank of America agreed today to pay $17 billion to end a Justice Department probe into the bank’s sale of toxic mortgage securities. The Justice Department alleged that Bank of America violated federal law when it marketed and sold investment vehicles tied … Continue reading Illinois, Kentucky Pension Funds Benefit From $17 Billion Bank of America Settlement

Detroit’s Pension-Slashing Plan Passed, But Creditors Remain the City’s Biggest Obstacle

When Detroit bankruptcy judge Steven Rhodes considers whether to approve the city’s sweeping debt-cutting plan, he will take into strong consideration what the city’s voters had to say. He’ll see that Detroit’s pension holders overwhelmingly approved the ballot measure today which cut pension benefits and cost-of-living-adjustments, among other things. But he’ll also see the discontent … Continue reading Detroit’s Pension-Slashing Plan Passed, But Creditors Remain the City’s Biggest Obstacle

CPPIB, GIC Betting on US College Housing?

 Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Komal Khettry of Reuters reports, CPPIB joint venture buys U.S. student housing portfolios for $1.6 billion: Canada Pension Plan Investment Board (CPPIB), Singapore wealth fund GIC and property owner Scion Group LLC said on Thursday … Continue reading CPPIB, GIC Betting on US College Housing?

CPPIB Looking to Raise its Stake in China?

Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Geoff Cutmore and Nyshka Chandran of CNBC report, Canada Pension Plan looks to raise its bet on China: China’s gradual market liberalization may be good news for Canadian pensioners. Canada Pension Plan Investment Board (CPPIB), … Continue reading CPPIB Looking to Raise its Stake in China?


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