07/15/13 The Raw Pension Industry News Feed

Comprehensive Real-Time News Feed for Pension.

• CalPERS, CalSTRS post double-digit annual gains _{2013-07-15, 03:11 pm}
  The nation's two largest public pension funds are reporting double-digit returns from rising stock and real estate prices.
• Plan OK'd to suspend health coverage for 1,000 Pontiac retirees _{2013-07-15, 03:00 am}
  Lansing -- A state board Monday approved the Pontiac emergency manager's plan to suspend health insurance coverage for nearly 1,000 city retirees for two years and give them $400 more a month in their pension checks in lieu of the benefit.
• CalPERS, CalSTRS post double-digit annual gains _{2013-07-15, 03:05 pm}
  - The nation's two largest public pension funds are reporting double-digit returns from rising stock and real estate prices. The California Public Employees' Retirement System reported a 12.5 percent annual return Monday while the California State ...
• Putting off retirement may help stave off Alzheimer's _{2013-07-15, 02:45 pm}
  ... they'd need to work until age 80 to live comfortably in retirement. But Dufouil's research, which linked health and pension databases of self-employed workers who were retired as of 2010, puts a positive spin on that choice. In study background ...
• 6 investment mistakes that could hurt your retirement _{2013-07-15, 02:41 pm}
  There are many ways to help keep vacation expenses in check. Follow these tips to make your vacation affordable without sacrificing fun.
• CalSTRS Reports Healthy Investment Returns in 2012a "13 _{2013-07-15, 02:34 pm}
  ... 67 percent funded with an unfunded actuarial obligation-or funding gap-of $70 billion. "This year reminds us that a pension fund measures its health over the long term and no single year can take us from underfunding to funding adequacy," said ...
• First Manhattan Objects to Adjournment of Vivus Annual Meeting _{2013-07-15, 02:27 pm}
  ... management services primarily to high net worth individuals as well as to partnerships, trusts, retirement accounts, pension plans and institutional clients. The firm currently manages in excess of $14 billion. FIRST MANHATTAN CO., FIRST HEALTH, ...
• Pension Funding: A Guide for Elected Officials _{2013-07-15, 02:06 pm}
  ... The importance of properly financing state and local government retirement systems has never been greater. Sound pension funding policies not only help ensure costs and benefits remain sustainable, but also strengthen the financial position and ...
• pension sessions _{2013-07-15, 02:06 pm}
  ... America. But for most Americans, it's become a do-it-yourself proposition, as a result of the decline of traditional pension plans in the private sector and the challenge of unfunded liabilities in state and local pension plans. TIAA-CREF's CEO ...
• LA: If You Expect Justice to Be Served on LAPD Sgt. Yanez, Prepare to Be Dissapointed _{2013-07-15, 02:04 pm}
  ... up his role in the first cover-up and manages to be convicted, Los Angeles will still be on the hook for his pension. Even a felony won't stop the city from its obligation to pay for the retirement of a crooked cop. "On LAPD, if you are already ...
• Segal Announces Executive Promotions _{2013-07-15, 01:44 pm}
  ... a Vice President in 2007 and Vice President and Actuary in 2011. Mr. Frias has more than 15 years of experience as a pension and retiree health actuary working with multiemployer and public sector pension and health plans. He received a BS in ...
• You're the boss when it comes to retirement savings _{2013-07-15, 01:38 pm}
  ... hrough the ways that retirement has changed over the years: It used to be that he saw people retiring and relying on pension plans, then came IRAs and the 401(k) boom ,and pensions slipped out of the picture. The
• Ex-Anglo UK chief fails in legal costs security bid _{2013-07-15, 01:19 pm}
  ... annual bonus for 2005 and outstanding deferred bonuses. It also wants repayment of another a 2.89m for an employer pension contribution made to augment preserved benefits of about a 1.5m payable to him at age 50. Mr Rowan, Tinarana, Rahena Beg, ...
• Whoa s in charge _{2013-07-15, 01:14 pm}
  Pension. What word in the English language, other than "taxes," strikes such fear into the average Canadian's heart? In fact, talk about both in the same sentence and you'll have honest folk feeling faint and grabbing for a chair.
• Jacksonville's Mayor says pension reform is the solution _{2013-07-15, 11:14 am}
  ... "We should be making it easier - not harder - for our neighbors to find economic success." At $181 million the pension obligations represent nearly 20 percent of the City's general fund budget, a news release from the Mayor's Office said. The ...
• City of Miami Springs facing staff reduction situation _{2013-07-13, 03:00 am}
  ... of 24 of its 119 full-time employees who are planning to retire. And they have banked like squirrels. The annual pension benefit for 24 listed employees will total a little more than $1.1 million, records show. "If the retiree dies, the wife will ...
• UPDATE 1-Calpers investments up 12.5 pct over 12 months ended in June _{2013-07-15, 12:54 pm}
  The California Public Employees' Retirement System, the biggest U.S. public pension fund, said on Monday it posted a 12.5 percent return on its assets for the 12 months ended June 30, outperforming its benchmark by 1.5 percentage points.
• United Kingdom tests behavioural economics on taxpayers _{2013-07-15, 12:47 pm}
  ... the need to save. What if, BIT wondered, we changed the default option: so that Brits were automatically enrolled in pension plans-with the option to opt out? The U.K.'s 2012 National Pension Savings Scheme is a step in this direction. The potential ...
• Calpers Earns 12.5% for Year as Stocks Buoy Pension's Returns _{2013-07-15, 12:29 pm}
  The California Public Employees' Retirement System , the largest U.S. pension, had a 12.5 percent gain on investments for the fiscal year ended June 30 as global stock indexes rose to records.
• Michigan board OKs plan to suspend health insurance coverage for 1,000 Pontiac retirees _{2013-07-15, 12:26 pm}
  A state board on Monday approved the Pontiac emergency manager's plan to suspend health insurance coverage for nearly 1,000 city retirees for two years and give them $400 more a month in their pension checks in lieu of the benefit.

07/06/13 Comprehensive Real-Time News Feed for Pension.

• Ireland to pay Catholic laundry workers $45M _{2013-07-06, 04:59 am}
  Ireland will pay several hundred former residents of Catholic-run Magdalene laundries at least 34.5 million euros to compensate them for their years of unpaid labor and public shame, the government announced June 26 following a decade-long campaign by former residents of the workhouses.
• Employers' marital confusion _{2013-07-06, 04:15 am}
  ... decision means gay spouses are entitled to a host of benefits they were denied previously. The decision extends pension and Social Security survivor benefits to same-sex spouses, grants equal access to the Family and Medical Leave Act, and gives ...
• Many retiring MPs will get pensions topping $100,000 a year for life _{2013-07-06, 03:34 am}
  ... elected 1974-79 and 1993 to present and in cabinet for the Chretien and Martin governments, would receive an annual pension of around $165,000 if he sits until 2015 and a total lifetime pension of more than $5 million until age 90. Many federal ...
• Think tanks _{2013-07-06, 03:28 am}
  ... is set to reach 50 in 2029, by which point the civilian age will likely cross 70 for men and women alike. Talk of pension cuts, according to Defense Minster Moshe Ya'alon, is often an attempt to "blacken the faces" of the tens of thousands of career ...
• High court prompts review of employee benefits _{2013-07-06, 02:48 am}
  ... decision means gay spouses are entitled to a host of benefits they were denied previously. The decision extends pension and Social Security survivor benefits to same-sex spouses, grants equal access to the Family and Medical Leave Act and gives ...
• Egypt's ouster of Morsi a setback for democracy _{2013-07-05, 06:26 pm}
  ... mining companies plunged on Monday," largely in anticipation of Obama's announcement. Remember the "housing bubble"? Pension funds and endowments lost lots of money because of "stranded assets." Now investors are getting nervous about a "carbon ...
• Karen Lynn Triplett Appellant v. Charles Thomas Triplett Appellee _{2013-07-05, 01:00 am}
  In this appeal arising from a dissolution of marriage action, Karen Lynn Triplett challenges orders of the Jefferson Family Court related to the division of Charles Thomas Triplett's pension.
• AARP ranks WellStar in top 10 for older workers _{2013-07-06, 01:16 am}
  ... employees moving into retirement by allowing someone who has been with WellStar for 10 years to draw part of their pension while still working. "Our people are our greatest asset," Mathews said. "Our older workers are seasoned, experienced, wise, ...
• Five council managers in a 1.3m pensions bonanza _{2013-07-06, 12:37 am}
  ... award of a 303,597. Mr Horan was 64 when he officially retired in April of last year and is now receiving annual pension payments of a 75,899. The retired manager of Limerick city, Tom Mackey, received lump-sum payments of a 202,646 and a 91,222 ...
• Mercury News editorial: BART strike isn't really over _{2013-07-06, 12:16 am}
  The BART strike is not over. The likelihood that much of the Bay Area will be without commuter train service again in the near future remains very high.
• San Bernardino Seeks Ruling It's Eligible for Chapter 9 _{2013-07-05, 11:48 pm}
  San Bernardino asked a bankruptcy judge to set aside the objections of two public employees' pension funds and rule that the California city is eligible for Chapter 9 protection.
• Contra Costa Times editorial: BART strike has long way to go before it's over _{2013-07-05, 11:17 pm}
  And, from where we sit, the likelihood that the Bay Area will be without commuter train service again in the near future remains very high.
• Many MPs will get pensions topping $100,000 a year for life _{2013-07-05, 11:06 pm}
  Many federal politicians who decide to retire at the next election are set to walk away with millions of dollars from the lucrative parliamentary pension plan.
• Threat of lawsuit over special pension payments still hangs over Colorado Springs _{2013-07-05, 09:44 pm}
  ... one surviving spouse and their pensions from Memorial Hospital. The former employees say they had been getting their pension every month, but when Memorial joined the University of Colorado Health System, the payments stopped. The payments were not ...
• Benefits tweaked over same-sex ruling _{2013-07-05, 09:31 pm}
  ... decision means gay spouses are entitled to a host of benefits they were denied previously. The decision extends pension and Social Security survivor benefits to same-sex spouses, grants equal access to the Family and Medical Leave Act and gives ...
• Lawmakers haven't adjourned, but new laws on tuition equity, vaccines, pensions already in effect_{2013-07-05, 09:12 pm}
  The Oregon Legislature is still in session, but a number of the laws they approved earlier this spring already went into effect.
• Lululemon faces third U.S. class action suit related to recall of Luon pants _{2013-07-05, 09:05 pm}
  ... Chancery in Delaware by the Hallandale Beach Police Officers and Firefighters' Personnel Retirement Fund in May. The pension fund filed suit over Lululemon's decision to increase potential bonuses for executives prior to announcing the recall. It ...
• N.Y. State False Claims Act Six Years Later _{2013-07-05, 08:44 pm}
  ... , in the first case adjudicated by a New York state court it was determined that a defendant's continuous receipt of pension benefits after retirement, which were secured by fraudulent conduct prior to retirement, "may render an investigation ...
• Smiths not miserable now on pensions _{2013-07-05, 08:41 pm}
  Smiths Group, the maker of airport security scanners and bomb detectors, has sealed a deal to lower its troublesome pension liabilities.
• NC pension plan fares better than most states in Moody's report _{2013-07-05, 08:41 pm}
  A new independent report that aims to provide a more realistic evaluation of state pension plans across the country rates North Carolina’s funding gap as the sixth-lowest in the nation.

The American Federation Of Teachers Sent Out A Big Watch List Of...

... list" for hedge funds who might have an opposing stance on their defined benefit plans (DB plans). 's workers and pension trustees deserve to know if the asset managers they are investing their hard-earned retirement savings with are also aligned ...

http://www.businessinsider.com/aft-watch-list-of-hedge-funds-2013-4?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+businessinsider+%28Business+Insider%29

Triumph Jobs Discussed

... of the trade union, the works council and the management lasted for more than two hours. An employee of the pension insurance company will come to the company and calculate the remaining work time of the employees. Gabriele Gruber, chairperson of ...

http://www.austriantimes.at/news/Business/2013-04-18/48083/Triumph_Jobs_Discussed

Freedom of misinformation

... had not worked for some time. She was a retired artisan. Together, they had no more than 500 euro a month, from her pension, to live on. In Italy, a country in deep economic malaise and political disarray, there is no shortage of people struggling ...

http://www.vanguardngr.com/2013/04/freedom-of-misinformation/

Northville facing $40 million in legacy costs

... heads. "Our challenge as you all know, is finding a plan to make head way on our legacy costs. Both for our pension obligations and our retiree health care obligations." Sullivan said these two combined legacy costs are around an estimated $40 ...

http://www.hometownlife.com/article/20130418/NEWS12/304180404/Northville-facing-40-million-in-legacy-costs

Ohio school retirement board votes to take controversial Hawaii trip

Despite outrage from lawmakers and retirees and the bright glare of media scrutiny, the School Employees Retirement System board again refused to cancel plans to send two trustees to a five-day conference in Hawaii next month and declined to adopt the same travel limits followed by the state's four other public pension systems.

http://www.whiotv.com/news/news/state-regional/ohio-school-retirement-board-votes-to-take-controv/nXQSb/