US Archives - Page 24 of 175 - Pension Policy International

31MayMay 31, 2024

US. Wall Street scans for potential volatility after Trump verdict

The impact of former President Donald Trump’s historic guilty verdict has yet to set in on Wall Street. From round-the-clock currencies to after-hours equity trading, most financial assets — aside from shares in Trump Media & Technology Group — were largely stable after a New York jury found Trump guilty on all 34 felony counts. But for traders, the question now is how the decision will impact markets that are already starting to prepare for the 2024 U.S. elections — in...

May 31, 2024

News, UncategorizedInvestment, US

30MayMay 30, 2024

Pension managers back climate group after high-profile US exits

Asset owners overseeing $4.6 trillion have signed a statement throwing their support behind the Climate Action 100+ investor group after several high-profile Wall Street investors left the global initiative. Signatories included the California State Teachers' Retirement System (CalSTRS) and California Public Employees Retirement System pension managers, as well as more than 40 others from countries including Britain, Canada and Sweden. In the statement on CalSTRS' website, the groups, many of which employ asset managers to invest in markets on their behalf,...

May 30, 2024

NewsPension Management, Sustainability, US

29MayMay 29, 2024

US. Pension risk transfer premiums rise in April — Milliman

U.S. pension risk transfer premiums among the most competitive bidding processes rose in April, a study by actuarial and consulting firm Milliman showed. The estimated average premium among the most competitive rates was 100.9% as of April 30, up from 100.3% a month earlier, according to a report about the Milliman Pension Buyout index. Milliman said the jump in competitive rates came from average accounting discount rates that increased by 45 basis points, while annuity purchase rates increased by 36 basis...

May 29, 2024

NewsPension Management, Risk, US

28MayMay 28, 2024

US. Wall Street braces for faster trade settlement

U.S. trading moves to a shorter settlement on Tuesday, which regulators hope will reduce risk and improve efficiency in the world's largest financial market but may temporarily lead to a rise in transaction failure for investors. To comply with a rule change the U.S. Securities and Exchange Commission (SEC) adopted last February, opens new tab, investors in U.S. equities, corporate and municipal bonds and other securities, opens new tab must settle their transactions one business day after the trade, instead...

May 28, 2024

NewsInvestment, US

24MayMay 24, 2024

US. Pension Risk Transfer Market Sets Q1 Record

The first quarter of this year marked was the largest first quarter on record, as estimated $15 billion in pension risk transfers closed in the period. According to Legal & General Retirement America, the activity significantly outperformed the previous record of $6.3 billion in 2023 and nearly triple the 2022 amount of $5.3 billion. LGRA found that jumbo transactions continue to be the driving force behind the market’s strong performance, as two transactions that closed in Q1 totaled $11 billion....

May 24, 2024

NewsPension Management, Risk, US

23MayMay 23, 2024

There’s a bold fix to America’s broken retirement system

By Teresa Ghilarducci In March, Blackrock CEO Larry Fink made headlines with a shareholder letter warning about our broken retirement system, noting that "nearly half of Americans aged 55 to 65 reported not having a single dollar saved in personal retirement accounts. Nothing in a pension. Zero in an IRA or 401(k).” The American worker knows the retirement system is broken and they don’t like it. In a recent national survey, 79% of those who responded said that America is facing a...

May 23, 2024

News, OP Ed, Op-EdSystem sustainability, US

22MayMay 22, 2024

US. NYC Pension to Invest $60 Million to Preserve Cheap Housing

New York City’s $86 billion pension fund for civil employees is investing in a nonprofit-led partnership that took on property loans tied to rent-controlled and rent-stabilized apartment buildings from the failed Signature Bank. New York City Employees’ Retirement System, or NYCERS, will invest as much as $60 million in a partnership, led by the Community Preservation Corp., that will preserve nearly 35,000 rent-stabilized units affected by the Signature Bank’s sudden collapse last March, city Comptroller Brad Lander said Tuesday. The...

May 22, 2024

NewsInvestment, Pension Management, US

20MayMay 20, 2024

US. New York City Retirement Funds Sue Fox For “Disregarding Defamation Risk” In Election Coverage

A group of New York City pension funds, along with others from the state of Oregon, have sued Fox Corp. and its officers and directors for “consciously disregarding defamation risk.” Fox News 2020 election coverage promoted “political narratives without regard for whether the underlying factual assertions were true or based on sources worthy of credit,” opening the company to litigation. “The board of directors of a Delaware-incorporated media company cannot be indifferent to the existential threat of broadcasting or publishing...

May 20, 2024

NewsInvestment, Risk, US

17MayMay 17, 2024

How Hidden Costs Undermine Public Pensions in the US

By Richard Ennis Public pension plans in the US incur exorbitant asset management costs. Most spend a lot and get nothing for it. High cost has hindered efforts to realize their actuarial return requirement. It has resulted in poor performance pretty much across the board. And yet, very few plans provide a full accounting of the costs they incur. Some still fail to net all their investment expenses from the returns they report. High cost is the Achilles heel of...

May 17, 2024

Articles, Pension Management2024, Costs, Investment, Public Pensions, US

17MayMay 17, 2024

US. Wisconsin pension fund now includes bitcoin

BY RICH KREMER Wisconsin’s pension fund has added bitcoin to its balance sheets, buying more than $160 million worth of shares in two newly approved funds earlier this year. U.S. Securities and Exchange filings from the State of Wisconsin Investment Board show that between Jan. 1 and March 31, it bought just more than $99 million worth of shares in a bitcoin exchange-traded fund, or ETF, from investment juggernaut Blackrock. The Investment Board, known as SWIB, also bought about $64 million worth of another...

May 17, 2024

News, OP Ed, Op-EdCrypto, Investment, US

May 2024