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Pennsylvania Pension Officials Defend Investment Strategy After Governor Calls for Overhaul

Last week, Pennsylvania Gov. Tom Wolf released his first budget proposal. Wolf has said many times that he doesn’t support a full overhaul of the state’s pension system. But his budget did contain some pension-related changes. Wolf is calling for the state’s pension funds to take a more passive approach to investing and to cut down the fees it ...
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Institutional Investors Cite Regulatory Risk, Transparency as Obstacles to Infrastructure Investment

The Organization for Economic Cooperation and Development (OECD) recently surveyed 71 pension funds on their interest in alternative investments. [The full survey can be found here.] The findings when it came to infrastructure investing were among the most interesting. The survey found that the funds had increased their alternative investments across ...
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Maryland Officials Warn Against Plan to Cut State Pension Payments

Maryland lawmakers are considering cutting the state’s payments into its pension system, citing strong investment performance. The cuts would total $2 billion over the next 10 years, according to the Maryland Reporter. But several key government officials are wary of the plan, including the state’s Budget Secretary and Comptroller. From the Maryland ...
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New Orleans Pension Considers Index Investing After 2014 Performance Lags

The New Orleans Municipal Employees Retirement System returned less than 5 percent in 2014, a number that is pushing some board members – including the city’s finance director – to consider a more passive investment strategy. Trustee and city finance director Norman Foster argued this week that the fund should be investing in funds that passively ...
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Canada Pension CEO Has Eyes Peeled For Opportunities Amidst Volatility

Canada Pension Plan Investment Board (CPPIB) Chief Executive Mark Wiseman sat down with Reuters for an interview last Friday, and made some interesting comments on how his fund deals with market volatility. Wiseman said his fund would likely be particularly active in the coming months as fluctuations in commodities and currency markets open up investment ...
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U.S. Pension Funds Return 6.7 Percent; Sixth Straight Year of Gains

U.S. public pension funds saw median returns of 6.76 percent in 2014, according to Wilshire Associates. It marks the sixth consecutive year of positive investment performance for public funds in the U.S. The country’s corporate pension plans returned 6.92 percent. More from Bloomberg, via the Salt Lake Tribune: U.S. public pensions reported median ...
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Philadelphia Pension System to Pay $62 Million Bonus to Retirees in 2015

Philadelphia’s pension system is only 47 percent funded. But that won’t stop retirees from getting a collective bonus of $62.4 million in 2015. That’s because the system pays out a bonus when it exceeds a set investment return target. The target in 2014 was 8.85 percent. The fund returned over 11 percent. So, retirees will receive a bonus for ...
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Kentucky Pension Investment Performance Lags Behind Peers, System Says

Kentucky Retirement Systems officials met with lawmakers on Monday as they presented the findings of an internal study to the Pension Oversight Board. The study examined how KRS investment performance stacks up with other, similar funds. Officials said the study indicated that the system’s investments were performing at rates that lagged behind their ...
Calpers

CalPERS Funding Ratio Jumps to 77 Percent On Back of Investment Gains

CalPERS revealed on Tuesday that its funding situation had improved in 2014; the system is now 77 percent funded, an increase of 7 percentage points from fiscal year 2012-13. CalPERS attributed the funding increase to investment performance – the fund saw their investments return 18.4 percent last fiscal year. More from the Sacramento Bee: CalPERS ...
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“You’ll Hear A Lot About Pensions” in 2015, Says Kentucky Chamber of Commerce President Amidst Push for Transparency

Early this month, the Kentucky Chamber of Commerce called for an audit of the Kentucky Retirement Systems – specifically, a review of its investment performance and policies. Now, the Chamber president and CEO is promising Kentucky residents that they’ll “hear a lot about pensions” in 2015 — the implication being that addressing the state’s ...
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