In The News
Avoiding reputational risk drives pension funds to adopt environmental, social and corporate governance (ESG) “principles” more so than it does other types of institutional investors, a survey suggests.
The 2019 contract ratified by 48,000 GM workers in October did not include a retiree bonus that the company has offered in the past. In 2015, it was a one-time $500 payment for retirees.
The number of Texas state and local pension funds achieving Pension Review Board recommendations for overall financial health hit a new high in 2019, according to PRB data analyzed by the Texas Association of Public Employee Retirement Systems. In addition, for the first time in decades, no Texas pension fund has a target rate greater than 8 percent.
Over the past five years, 642 public safety pension funds in the suburbs and downstate have received more than $3.2 billion in investment returns. However, those funds were expected to generate at least $4.1 billion from investments, a nearly $1 billion miss.
A protest by about 100 members of Fossil Free Penn shut down a Board of Trustees meeting on Friday, The Daily Pennsylvanian reports.
Plaintiffs challenge the use of proprietary products in Prudential’s defined contribution retirement plans, an arrangement they say impermissibly benefitted the company at the expense of plan performance.
Individual investors at Fisher Investments transferred $20 million from the firm the week after the billionaire made lewd comments at a conference, according to a research note from Mercer, an advisor to institutional investors.
Momentum may be building to consolidate Illinois’ more than 640 downstate and suburban police and fire pension systems’ investments now that Illinois Senate President John Cullerton introduced a bill to do just that.
Hedge funds and natural resources underperformed. New investments in private equity look no better.
Proposed rule changes would pressure proxy advisory firms to take a more management-friendly stance in their reports and vote recommendations.