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June 2024

03Jun

10 of America’s most affordable retirement spots, where the weather is good and healthcare is top-notch

Realtor.com ranked top retirement spots based on home prices and amenities for older residents. Florida is a popular retirement destination, but California and New Jersey had a few in the top 10. Many seniors face financial constraints and depend on Social Security for retirement. As many Americans prepare to retire, many are wondering just how far their finances can take them. After all, a majority of seniors live on meager incomes, and many are reliant on ever-imperiled Social Security. But for the workers who have put in...

June 3, 2024
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03Jun

Ghilarducci corrects Larry Fink’s suggestion of “working longer to dodge retirement crisis”

BlackRock CEO Larry Fink caused quite a stir when he suggested America could dodge its looming “retirement crisis” by encouraging people to continue working past age 65. The billionaire, who chairs the world's largest asset manager, kicked off his 2024 annual letter to shareholders by telling his readers it is “time to rethink retirement.” Don't miss Commercial real estate has beaten the stock market for 25 years — but only the super rich could buy in. Here's how even ordinary investors can become the landlord...

June 3, 2024
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May 2024

31May

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
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30May

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
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29May

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
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28May

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
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24May

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
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23May

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
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22May

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
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20May

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
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