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Chicago Lawyers Predict “Catastrophic Outcome” If City’s Own Pension Reforms Are Eventually Overturned

The City of Chicago submitted a brief to the Supreme Court this month supporting the legality of the state’s pension reform law. That’s because a court decision against the pension law wouldn’t bode well for the legal standing of the city’s own set of pension reforms. Chicago’s lawyers said in the brief that a “catastrophic outcome” should ...
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UK Pension Funding Could Suffer As European Central Bank Begins QE

The European Central Bank announced on Thursday that it would soon kick off its massive quantitative easing program. Pension consultants say the move will likely push the funding ratios of UK pensions lower – with one consultant going so far as to say the QE program would be “horrendous” for pensions. From EFinancialNews: The steep fall in yields ...
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Pennsylvania’s Municipal Pension Problems Are Isolated, Not Epidemic, Says Township Representative

David Sanko, executive director of the Pennsylvania State Association of Township Supervisors, penned an piece in TribLive on Friday claiming that Pennsylvania has a pension crisis – but it’s at the state level, not the municipal level. Sanko contends that, aside from a handful of horror stories, most of the state’s municipalities aren’t buried ...
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Institutional Investors Keeping Close Eye on Oil As Prices Continue To Slide

The price of oil dropped below $45 per barrel on Tuesday, and many Americans are undoubtedly enjoying the price drop – at least when they are filling up at the pump. But the drop is causing “a lot of concern” for institutional investors, according to a Pensions & Investment report. From Pensions & Investments: The impact of low oil prices ...
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Stakeholders Listening for Hints on Pension Reform in Chris Christie’s Annual Address

Chris Christie will deliver New Jersey’s “State of the State” address on Tuesday. The question on the minds of lawmakers, labor leaders and public workers is: how much will he reveal about his plans for reforming the state’s pension system? Christie indicated over the summer that a new round of pension reforms are necessary, and they would ...
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Federal Judge Won’t Issue Ruling in Pension Fight Between City, Public Safety Workers

A U.S. District Court Judge has declined to issue a ruling in a decade-long dispute between the city of Annapolis and its retired public safety workers. The dispute, explained by the Capital Gazette: A federal judge has declined to wade into a 12-year dispute between the City of Annapolis and retired public safety workers over pension benefits. Senior ...
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Moody’s: Stockton Ruling Good News For “Financial Profile” of CalPERS

Moody’s released a report Wednesday outlining the credit agency’s thoughts on CalPERS in the wake of the Stockton ruling. The agency affirmed CalPERS’ rating of Aa2, which is the third-highest rating available. From the report: Favorable outcomes for CalPERS in the Stockton, CA and San Bernardino, CA bankruptcy proceedings lend further support ...
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Funded Status of Corporate Pensions Falls To Lowest Level In 13 Months

Pension360 focuses on public pensions, but the general landscape of pensions in the U.S. is important, as well. On that note, an interesting piece of news surfaced Thursday: the funded status of U.S. corporate pensions dropped this month to the lowest level since August 2013. Plans’ funding levels fell from 90.1 percent to 89.9 percent. From MarketWatch: The ...

Fitch Downgrades Pennsylvania; “Weakened” Pension System Drives Demotion

Credit rating agency Fitch has downgraded Pennsylvania’s general obligation bonds one notch, from AA to AA-. What’s more, Fitch changed the state’s outlook from “stable” to “negative” – meaning another downgrade could be coming if Pennsylvania doesn’t address the structural problems that led to this recent demotion. The structural ...
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Study: Investors Think Pension Liabilities Are “Systematically Undervalued”

When it comes pension liabilities, investors are skeptical of the numbers they’re being presented with. That’s according to a study released today by Llewellyn Consulting that examined how investors react to the stated liabilities of corporate defined-benefit plans. The study comes from the UK, but it has great relevance to the United States, where ...
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