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Video: New Thinking About Retirement Risk Sharing

The above talk was given by Peter Shena, Executive Vice President and Chief Pension Officer of the Ontario Pension Board, at the 2014 Pension Research Council Conference. Shena speaks about “creative, progressive risk-share models” implemented in some European countries that go beyond defined-benefit or defined-contribution plans. He also ...
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Two Pension Bills Sitting in Pennsylvania Legislature Likely to Resurface In 2015

Pennsylvania’s outgoing governor, Tom Corbett, made reforming the state’s pension system his top priority over the last year. But his plan – which would shift new hires into a “hybrid” plan with characteristics of a 401(k) – failed to enthuse most legislators. Still, two pension bills are still sitting in the legislature, and they are likely ...
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New York Comptroller Candidates Square Off on Pensions

The New York State Comptroller serves as the sole trustee of New York’s $176.8 billion retirement system. So it’s not surprising that pensions were among the first issues broached during Wednesday night’s televised debate between the two candidates for Comptroller, incumbent Thomas DiNapoli (D) and newcomer Robert Antonacci (R). Antonacci voiced ...
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Study: Has a 400 Percent Increase in Alternatives Paid Off For Pensions?

A newly-released study by CEM Benchmarking analyzes investment expenses and return data from 300 U.S. defined-benefit plans and attempts to answer the question: did the funds’ reallocation to alternatives pay off? The simple answer: the study found that some alternative classes performed better than others, but underscored the point that “costs ...
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Changing the Conversation About Pension Reform

Keith Ambachtsheer, Director Emeritus of the International Centre for Pension Management at the University of Toronto, wants to change the conversation around pension reform from “dysfunctional” to “constructive”. In a recent article in the Financial Analysts Journal, Ambachtsheer explains how the reform conversation can be “re-framed” ...

Think Tank Director: Corbett’s Pension Proposal Would Increase Pension Debt and Reduce Benefits

Stephen Herzenberg, the executive director of the Keystone Research Center, took to the newspaper on Monday to counter Pennsylvania Gov. Tom Corbett’s argument that the best bet for saving the state’s pensions would be to switch new hires into a 401(k)-type plan. Herzenberg claims in an op-ed that such a plan would provide no savings for the state, ...
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Funded Status Of Canadian Pensions Falls in Third Quarter

The funded statuses of Canada’s defined benefit plans collectively fell in the third quarter to 91.1 percent, marking a 4.9 percent decline over the last three months; at the end of the second quarter, plans were 96 percent funded. The data comes from Aon Hewitt, who surveyed 275 of Canada’s defined benefit plans, both public and private. From ...
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Funding Status of Largest Plans Falls in August

The funded ratios of the largest pension plans in the country collectively fell during the month of August, according to a Milliman report. Reported by Pensions & Investments: The funded status of the 100 largest U.S. corporate pension plans fell to 84% in August, down from 84.8% in July, said the latest Milliman 100 Pension Funding index. […] During ...
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Controversy Surrounds Pensions of Retired Detroit-Area Politicians

Some Michigan residents are questioning the retirement package of Detroit-area politician Robert Ficano, who lost re-election last month after becoming embroiled in several scandals but still retired with a 401(k) worth between $1.5 and $2 million. But experts say the retirement package is relatively “normal”, and the public’s outrage should ...
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The Accounting Implications of Job-Hopping and the Shift to 401(k)s

Two trends have been building in recent years, and now they are set to collide: on one hand, employers are increasingly shifting workers into defined-contribution plans. On the other, workers are becoming more likely to move between companies numerous times over the course of their working lives. Those trends together are bound to butt heads. Canover ...
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