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Does Investment Return Affect Pension Costs?

Does Investment Return Affect Pension Costs? Larry Bader, who worked as an actuary for 20 years before moving to Wall Street, tackled that question in the latest issue of the Financial Analysts Journal. An excerpt of his answer: Answer: It doesn’t. Yes, a higher return on plan assets reduces the funding requirements for the pension plan and the expense ...
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Pension Policy: Taking Stock of Where Florida’s Candidates For Governor Stand

Pension policy has become an important issue in the race to be Florida’s governor, and the two major candidates (incumbent Rick Scott and challenger Charlie Crist) both have very different views on how the pension system should be altered, or not. A rundown of their respective positions, from the Ocala Star Banner: If Rick Scott is re-elected, you ...
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Contribution Rates Down In Wake of New York Pension Fund’s “Solid” Investment Returns

Employers who pay into the New York State and Local Retirement System will soon find their pension contribution bills to be significantly smaller. The System has lowered the contribution rates required of state and local government entities, as reported by the Associated Press: Comptroller Thomas DiNapoli says the average rate will decrease from 20.1 ...
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CalPERS Rescinds $700 Million Investment With Private Equity Fund Headed By Doctor With No Private Equity Experience

You probably trust your doctor with your life. But with your money? Many people might balk at the notion of their doctor making their investment decisions for them. But back in 2007, CalPERS made a big bet: a $705 million investment in a private equity fund, Health Evolution Partners Inc., specializing in health care companies. The CEO of the fund, ...
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Philadelphia Funds Return 15 Percent As New Investment Strategies Play Out

The Philadelphia Board of Pensions, the entity that handles investments for the city’s pension funds, released its annual return data this week. The fund returned just over 15 percent for the fiscal year. From the Philadelphia Enquirer: The total fund ended the fiscal year up 15.6 percent, outperforming its benchmarks by 1.96 percent. A more narrow ...
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New York City Funds Lag Behind on Private Equity Performance

The private equity analytics firm Bison just came out with a list ranking the private equity performance of 50 public pension funds. New York City’s pension funds have been particularly active in PE funds, and are looking to invest even more in the area in coming years. So, how did the city fare? You have to pay to see the full rankings, but the ...
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CalPERS and CalSTRS Rake in Big Returns, But Much Work Left To Be Done

The 2013-14 fiscal year ended June 30, which means we’ve entered a new year for public pension funds, at least in fiscal terms. It also means that the latest investment performance data is being released, and that data has some funds smiling. California is one state that has to be happy with what it sees: big investment returns for both of the state’s ...
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