December 2024
09Dec

US. Florida to invest $1.85B from pension fund in Bitcoin

Florida plans to invest $1.85 billion from its pension fund into Bitcoin to take the lead in using cryptocurrency, with support from state leaders and the Florida Blockchain Business Association. Florida is planning to invest $1.85 billion from its state pension fund into Bitcoin, aiming to lead in cryptocurrency adoption. Backed by the Florida Blockchain Business Association (FBBA) and pro-crypto leaders, this move could change how states use digital assets in their financial plans. Florida to invest $1.85 billion in Bitcoin Florida’s $185.7...

December 9, 2024
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05Dec

U.S. corporate pension funding surpluses rise in November — 3 reports

U.S. corporate pension funding ratios jumped in November thanks to positive market returns, according to three new reports. First, Wilshire Advisors estimated the aggregate funding ratio of U.S. corporate plans reached 103.5% as of Nov. 30, an increase of 1.4 percentage points above the 102.1% funding ratio estimated by the firm as of Oct. 31. “November’s increase in funded status was primarily driven by positive asset returns across most asset classes, with the FT Wilshire 5000 Index reaching an all-time high...

December 5, 2024
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04Dec

US. Gen X investors ‘sandwiched’ between caregiving responsibilities and preparing for retirement

Retirement is right around the corner for some Gen X investors, but are members of the “sandwich generation” – tasked with caring for both children and aging family members – prepared? According to a new survey from Nationwide, one in five are unable to save for retirement, and 23% have reduced or stopped making retirement contributions entirely. What’s more, one in six are withdrawing from retirement accounts or investments to manage the financial pressures of caring for both their parents...

December 4, 2024
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03Dec

Half of US pension returns at risk of climate change wipeout

By Mona Dohle   UK institutional investors are closely examining their transatlantic counterparts amid ongoing discussions about whether the so-called Maple 8 Model could be replicated in the UK to attract private investment in the country’s ailing infrastructure. However, the combination of a home bias alongside a relatively higher allocation to alternatives are precisely the factors that leave pension funds more vulnerable to potential climate risks, according to new research by Ortec Finance, a Dutch climate risk modelling firm. North American and Canadian pension funds find...

December 3, 2024
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November 2024
29Nov

US PRT Market sees $14B in Volume in Q3

Following a record-breaking first half of 2024 for the U.S. pension risk transfer market, which closed at $26 billion through June 30, the third quarter also finished strong, according to Legal & General Retirement America’s November market update. The third quarter closed at an estimated $14 billion in total premium—a 35% increase from the third quarter of last year, which landed at $10.6 billion. A huge chunk of that total came from one deal: IBM’s $6 billion PRT with Prudential Insurance Co. of America in September...

November 29, 2024
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28Nov

New York City Pension Investments with MWBE Asset Managers Reach Record of $23.1 Billion for Fiscal Year 2024; Grew Nearly 40% During Comptroller Lander’s Tenure

New York City Comptroller Brad Lander released a report announcing that investments by the City’s five pension funds with minority- and women-owned asset management firms grew to $23.1 billion in Fiscal Year (FY) 2024, an increase of $6.3 billion, or 37.5% since Lander took office. Assets under management by MWBE firms grew from $16.8 billion in FY22 (11.6% of actively-managed US assets), to $19.5 billion in (12.7%) in FY23, to $23.1 billion (13.3%) in FY24. Investment firms owned by people of color and...

November 28, 2024
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27Nov

Kodak looks to terminate US pensions, will gain over $500 million in finances

According to a filing with the SEC, Kodak said that it looks to cut its pension plan. The plan has increased significantly due to initial contributions and market performance. The SEC filing stated that Kodak looks to use the cash from the cut and sale of the plan, which would to offset its debt. The sale — which also includes the sale of “illiquid assets” — was to Mastercard Foundation, and Kodak would retrieve more than $500 million. Kodak confirmed with...

November 27, 2024
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27Nov

Largest US pension fund CalPERS over halfway to $100B climate investment goal

The California Public Employees’ Retirement System is more than halfway to its goal of investing more than $100 billion in climate solutions, the pension fund announced last week. CalPERS, the largest pension fund in the nation, said it had invested $53 billion in climate solutions, a year after it set the $100 billion target, according to a Nov. 18 press release. While the climate solution funding goal is part of CalPERS’s 2030 sustainable investing strategy, some of its beneficiaries...

November 27, 2024
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25Nov

Are You One of 38 Million Seniors Who Fear Your Retirement Income Won’t Be Enough? You’re Not Alone.

Social Security is one of the most crucial functions of the U.S. government. Last year, the program paid roughly $1.5 trillion to 68 million Americans, 51 million of whom were retired. Many of these retired Americans rely on the program for a significant portion of their incomes. Originally intended as one of three income sources for retirees along with employer pensions and personal savings, Social Security's role has grown as pensions have become rare for most. Many lower-income earners are unable...

November 25, 2024
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22Nov

Public Pension Funding Index November 2024

By Rick Gordon & Rebecca A. Sielman October 2024 broke the five-month positive investment return streak for public pensions, prompting a decrease in the estimated funded status of the 100 largest U.S. public pension plans from 82.8% as of September 30, 2024, to 81.2% as of October 31, 2024, as measured by the Milliman 100 Public Pension Funding Index (PPFI). We estimate a calendar year-to-date investment return of 7.6% through the end of October. We have projected the aggregate funded status forward from October...

November 22, 2024
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