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.
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.