The state-approved benefit change for some Chicago firefighters adds $180 million to the city’s unfunded tab and $700 million to contributions over 30 years.
Federal prosecutors have been investigating the financial transactions of the D.C. Retirement Board, which manages the city’s $10 billion pension fund for retired teachers, police officers and firefighters.
Some of the world’s greatest funds are exchanging toward emerging-market equities in a bet their central banks have less need to raise interest costs subsequent to fixing before their developed-nation peers a year ago.
Leaders of Pennsylvania’s beleaguered teachers’ pension fund are requesting that board members sign oaths of secrecy before receiving a critical update on the botched investment calculation scandal that has led to multiple federal investigations.