A pension fund for Milwaukee city employees sued Allianz Global Investors in Wisconsin federal court Friday, claiming the investment manager took a self-interested gamble early in the pandemic that cost the workers hundreds of millions of dollars of their pension savings.
Manhattan Institute recommendations include paring back “unusually generous” benefits and transitioning new employees toward a defined-contribution system.
Looking back at all of the pension legislation stories we’ve written up during the coronavirus pandemic, I’ve noticed federal and provincial governments definitely favoured defined benefit plans over defined contribution plans in their various temporary regulations.
Although it reported broad support that drove fundraising to $320 million last year, the University of Nebraska Foundation reported a net loss on its main $1.3 billion endowment.
Billionaire Robert F. Smith has been hailed as a brilliant investor who built Vista Equity Partners into a private equity powerhouse and a generous philanthropist lauded for paying off the student debt of Morehouse College’s entire graduating class last year.
Luzerne County’s employee pension fund has largely bounced back from a first-quarter coronavirus blow, the adviser reported at Thursday’s virtual county Retirement Board meeting.