News
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The California State Teachers’ Retirement System just missed its target rate for annual investment returns, recording 6.8 percent for the fiscal year ending June 30.
A non-governmental organization has begun a search for asset managers to handle a total of $1.55 billion in assets.
A founder of a Montreal-based investment manager will retire at the end of 2019.
A Florida city is seeking a consultant to assist with a plan administrator search for its deferred compensation plan.
A pension plan in the Southwest has hired a new general investment consultant.
An airport authority in New England has issued an RFP seeking investment consulting services.
A transportation authority in the Northwest has concluded its search for record keeping and trust custody services.
A pension plan in the Southeast committed to two private investment vehicles this month.
The U.S. Supreme Court recently agreed to review the Eighth Circuit’s decision in Thole v. US Bank, in which the Eighth Circuit held that participants in an overfunded defined benefit pension plan lack standing to sue for fiduciary breaches under ERISA. The Supreme Court’s decision in this case—the third ERISA case accepted by the court this term—could have significant implications for plan sponsors and plan fiduciaries.
Kentucky Gov. Matt Bevin’s pension-relief proposal cleared the Republican-run state House by a slim margin Monday, surviving a crucial showdown as lawmakers continued a special legislative session convened by the GOP governor.