A controversial section of a proposed code of conduct would bar California Public Employees’ Retirement System board members from speaking out against investment decisions or policies following board approval, a move some are claiming is aimed at stifling dissent and preventing board members from talking to the media, CIO reports.
Lightyear Capital announced today that investment funds affiliated with Lightyear and the Public Sector Pension Investment Board have completed the sale of Advisor Group to Reverence Capital Partners.
Another financial services firm has agreed to some procedural changes and a monetary settlement regarding the proprietary funds it offered in its own 401(k) plan.
Baltimore, MD (July 31, 2019) — The Board of Trustees of the Maryland State Retirement and Pension System today announced that its portfolio returned 6.46% percent, net of fees, on investments for the fiscal year that ended June 30, 2019—falling short of the System’s 7.45% assumed actuarial return rate. The fund’s performance raised the system’s assets to $54.2 billion, an increase of $2.4 billion over last year.
NASHVILLE — In a state where many in the Republican-dominated government, including Gov. Bill Lee, oppose legalizing even medical marijuana, it turns out that Tennessee’s massive $52 billion retirement system stands to benefit from an investment it has in the soaring pot industry.
A plan that allowed some pension enrollees to cash in early on their earned retirement benefits in exchange for curbing future benefits has so far generated only 3% of its expected savings.