Pension Roundup: 2013

Monday, July 15, 2013

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.

Saturday, July 6, 2013

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 Carolinas funding gap as the sixth-lowest in the nation.

Thursday, April 18, 2013

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/

OCERS to hire 3 managers for direct lending

Orange County Employees Retirement System , Santa Ana, Calif., on April 24 will consider hiring three managers for initial direct lending commitments, according to the agenda for the $9.9 billion pension fund's investment committee meeting.

http://www.pionline.com/article/20130418/DAILY/130419862?

Kentucky Update: Instant Racing

... In February 2013, House Speaker Greg Stumbo (D) introduced House Bill 416, which was in part designed to pay for pension reform for the state retirement system by utilizing revenue from Instant Racing. 12 The bill, which passed the House on February ...

http://www.jdsupra.com/legalnews/kentucky-update-instant-racing-85776/

US Postal Service is losing $25 million a day

The U.S. Postal Service is known for delivering the mail no matter if hurricanes or blizzards are obstructing the way.

http://money.msn.com/now/post.aspx?post=bf0c9f4f-fa9b-4845-9906-5691b733d880

Oregon Gov. John Kitzhaber heads abroad, will miss PERS vote

With tensions mounting at the Legislature over upcoming votes on public pension reforms and tax increases, Gov.

http://www.oregonlive.com/politics/index.ssf/2013/04/oregon_gov_john_kitzhaber_head.html

Voluntary Separation Program Returned To Legislative Committee

... Participate form by April 25. The voluntary Separation Program was not open to employees already receiving a state pension and was tentatively timed to go into effect in May and June. Grant said the program was supposed to save $3.5 million in ...

http://newcity.patch.com/articles/voluntary-separation-program-returned-to-legislative-committee

Congress returns to public pension battle with new bill

... federal government intervene in state and local affairs. Although state and local governments are dealing with high pension costs, which strain their already tight budgets, no one has yet asked the federal government for a bailout. A corresponding ...

http://wtax.com/Congress-returns-to-public-pension-battle-with-new/11472119?newsId=206703

Don't blame worker pensions on government financial failures: Opinion

... So it's no wonder Californians don't believe politicians in this state who continue to use the public employee pension system as a scapegoat for governments' financial woes. First, they tried it in Stockton. But the bankruptcy there wasn't caused by ...

http://www.dailynews.com/opinions/ci_23054427/dont-blame-worker-pensions-government-financial-failures-opinion?source=rss

Senators seek changes in pension, medical costs

Under a bill sponsored by six senators, lawmakers would develop a voluntary risk pool for local governments to help manage the medical costs of the retirees in an old pension system called LEOFF-1. Local jurisdictions are required pay for all the medical expenses of their LEOFF-1 retirees, and the AP reported on how some government budgets were ... (more)

http://www.tri-cityherald.com/2013/04/17/2360633/wash-senators-seek-changes-in.html

Ex-county pension official sues Aguirre

- A former investment officer for the San Diego County pension fund who claimed he was fired after raising concerns over the risk the fund was taking, then lost legal battles to get his job back, is now suing his lawyer, former San Diego City ...

http://www.utsandiego.com/news/2013/apr/18/county-pension-official-aguirre-lawsuit/

Evercore Trust names new president, CEO

... o reduce the volatility of funded status The 3rd in a 3-part series that investigates the attitudes and practices of pension funds and E&Fs around risk-management.

http://www.pionline.com/article/20130418/DAILYREG/130419873/evercore-trust-names-new-president-ceo

Bill to measure pension liabilities by fair market value introduced in House

State and local governments would have a single standard for disclosing pension liabilities that would be measured by fair market value, under a legislative proposal introduced Thursday by Rep.

http://www.pionline.com/article/20130418/DAILYREG/130419872/bill-to-measure-pension-liabilities-by-fair-market-value-introduced-in-house

Ex-Simran Capital CEO settles with SEC over charges of defrauding CalPERS

... Simran in 2008 to manage a high-yield fixed-income strategy. CalPERS spokesman Joe DeAnda said in an e-mail that the pension fund supports the SEC's actions and ended its relationship with Simran several years ago. Mr. DeAnda did not provide any ...

http://www.pionline.com/article/20130418/DAILY/130419871/ex-simran-capital-ceo-settles-with-sec-over-charges-of-defrauding-calpers

Bill uses fireworks tax hike to create pension fund for Maine volunteer firefighters

... Turner and Buckfield respond to a Turner fire in December. A bill being debated in the Legislature would set up a pension fund for volunteer firefighters in Maine. The revenue raised would be used to create a pension fund for volunteer firefighters ...

http://www.sunjournal.com/news/maine/2013/04/18/bill-uses-fireworks-tax-create-pension-fund-maine/1350240

Rich Goward, Portland's chief financial officer, retiring April 30: Portland City Hall Roundup

... he earned $162,302 annually, overseeing financial services such as accounting, debt management, treasury and pension oversight. Goward declined to comment on his retirement. His departure will leave Portland with a new cast of top financial ...

http://www.oregonlive.com/portland/index.ssf/2013/04/rich_goward_portlands_chief_fi.html

Oklahoma Police Pension doles out $7.5 million to Southpoint Capital

Oklahoma Police Pension & Retirement System , Oklahoma City, invested $7.5 million in a global long/short equity hedge fund managed by Southpoint Capital Advisors , confirmed Steven Snyder, executive director and chief investment officer.

http://www.pionline.com/article/20130418/DAILY/130419874?

Moody's may cut Cincinnati bond rating due to pension data

Cincinnati, Chicago, Minneapolis and 26 other municipalities may face credit-rating downgrades affecting $12.5 billion in debt because pension liabilities are underreported, Moody's Investors Service said.

http://news.cincinnati.com/apps/pbcs.dll/article?AID=2013304180075

Why Rent-A-Center's Earnings May Not Be So Hot

... flow figure plotted in the TTM period above, other operating activities (which can include deferred income taxes, pension charges, and other one-off items) provided the biggest boost, at 2.5% of cash flow from operations. Overall, the biggest drag ...

http://www.nbcnews.com/id/51583773/ns/business-motley_fool/

Masi spells out steps to balanced budget

McGill needs to move now to try to contain a growing deficit amid a turbulent funding context that is anything but assured, Provost Anthony C. Masi indicated to Senate Wednesday.

http://publications.mcgill.ca/reporter/2013/04/masi-spells-out-steps-to-balanced-budget/

Adviser settles Us Sec charges alleging he defrauded CalPERS

... penalties, interest and disgorgement of ill-gotten gains. The SEC said that Tandon misled CalPERS when he told the pension fund that his firm satisfied its minimum assets under management requirements - a key metric used by CalPERS when screening ...

http://www.reuters.com/article/2013/04/18/sec-calpers-idUSL2N0D51FZ20130418?feedType=RSS&feedName=governmentFilingsNews

SLM Management Discusses Q1 2013 Results - Earnings Call Transcript

... the prior year quarter is the result of an $8 million gain we booked last year related to the termination of our pension plan. Operating expenses were up $18 million in the fourth (sic) [first] quarter versus the fourth quarter as a result of stock ...

http://seekingalpha.com/article/1351211-slm-management-discusses-q1-2013-results-earnings-call-transcript?source=feed

Update 1-Adviser settles Us Sec charges alleging he defrauded CalPERS

... a website listing Tandon as its president. The SEC said that Tandon misled CalPERS in 2008 when he told the pension fund that his firm satisfied its minimum assets under management requirements - a key metric used by CalPERS when screening for ...

http://www.reuters.com/article/2013/04/18/sec-calpers-idUSL2N0D51IC20130418?feedType=RSS&feedName=bondsNews

Congress returns to U.S. public pension battle with new bill

... federal government intervene in state and local affairs. Although state and local governments are dealing with high pension costs, which strain their already tight budgets, no one has yet asked the federal government for a bailout. A corresponding ...

http://www.reuters.com/article/2013/04/18/usa-pensions-congress-idUSL2N0D518Q20130418?feedType=RSS&feedName=bondsNews

We'll miss you all'

... said: "I was there about 23 years and before that I worked for Swindon Council. We were lucky to be able to get a pension and retire early "I am already missing the community. With my job you are constantly bumping into people and it is only when ...

http://www.swindonadvertiser.co.uk/news/10364823.___We___ll_miss_you_all___/

Mintz Levin Attorney Alden J. Bianchi to Testify Before IRS on Behalf of ERISA Industry Committee

... he has testified before the Senate Finance Committee on the subject of health care reform. He is a member of the BNA Pension & Benefit Publications Advisory Board, a resource to one of the nation's premier tax and legal publishers, Tax Management, ...

http://www.businesswire.com/news/topix/20130418006094/en

Why being married pays off in retirement

When it comes to retirement savings, Robert Powell writes, it seems two heads are better than one.

http://blogs.marketwatch.com/encore/2013/04/18/why-being-single-can-squelch-your-savings/

Death and taxes will get you

... the death of the first spouse, the surviving spouse will lose a Social Security benefit, a possible reduction in a pension, and likely an increase in tax brackets when going from joint to an individual filed return. 80% of all men die married, while ...

http://www.marketwatch.com/story/death-taxes-planning-for-the-unavoidable-2013-04-18?link=mw_home_kiosk

Ftse Close: Footsie stalls amid concerns over Us economy; fall in retail sales hits confidence

... after leaving, unless he gets a new job in the meantime, but Barclays declined to reveal his basic pay and his pension entitlements . Read more here. The FTSE continues to edge up, now at 6,265.5 up 0.34 per cent or 20.61 points. Retail sales fell ...

http://www.dailymail.co.uk/money/markets/article-2310921/FTSE-CLOSE-Footsie-stalls-amid-concerns-US-economy-fall-retail-sales-hits-confidence.html?ITO=1490&ns_mchannel=rss&ns_campaign=1490

40 percent Over 45s expect sell home to fund long term care

... survey say the think will pay for residential care in the future. People are similarly realising that their pension income, savings and investments are not necessarily going to cover the cost of their care. Concerns over a potential retirement ...

http://www.dailymail.co.uk/money/pensions/article-2311104/40-percent-Over-45s-expect-sell-home-fund-long-term-care.html?ITO=1490&ns_mchannel=rss&ns_campaign=1490

Caught drink driving after picking wife up

... meet. That will in one sense get worse when his wife ceases work in two months time. "She will retire on a state pension and nothing else. The defendant himself is not entitled to his pension until he reaches 65. "There might be some expense saved ...

http://www.buxtonadvertiser.co.uk/news/local/caught-drink-driving-after-picking-wife-up-1-5591624

Editorial: After 7 years, some schools still aren't learning on pension penalties

... with how many times some suburban school districts have had to be reminded of a state law meant to curb public pension excesses. The law caught some school districts by surprise after it went into effect in 2005. Many suburban school boards faced ...

http://www.dailyherald.com/article/20130418/discuss/704189857/

It's Time to Put Taxpayers Above the Union Agenda

Florida taxpayers will spend at least $500 million this year to cover the unfunded pension of government workers.

http://www.sunshinestatenews.com/story/it%E2%80%99s-time-put-taxpayers-above-union-agenda

Moody's may cut Cincinnati bond rating due to pension data

Mike Leake had three hits and gave up just three hits over seven innings in the Reds' 11-2 rout of... Cincinnati, Chicago, Minneapolis and 26 other municipalities may face credit-rating downgrades affecting $12.5 billion in debt because pension liabilities are underreported, Moody's Investors Service said.

http://news.cincinnati.com/apps/pbcs.dll/article?AID=/AB/20130418/NEWS/304180075/&gcheck=1

Teamsters Pension Crisis Sapping Hoffa's Support, Power

International Brotherhood of Teamsters general president Jimmy Hoffa Jr.'s response to his union's pension crisis is sapping Hoffa's support among Teamsters members, according to insiders.

http://newmediajournal.us/indx.php/item/9056

Dan Loeb Backs Out Of Speaking Gig After Teachers Union Bosses Threatened To Show Up

Hedge funder Daniel Loeb backed out of speaking at a conference after teacher union bosses threatened to grill him on his stance on their pension benefits, the New York Post Michelle Celarier reports.

http://www.businessinsider.com/dan-loeb-backed-out-of-conference-2013-4?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29

Unum Contributes To Research From DOL And President's Advisory Council For Financial Capability

A new report by the Advisory Council on Employee Welfare and Pension Benefit Plans says disability insurance is crucial to the financial security of working Americans, yet too few employees understand the risks and are covered by this important benefit, says Submitted to the secretary of Labor, the report recommends a comprehensive education ... (more)

http://www.chattanoogan.com/2013/4/18/249254/Unum-Contributes-To-Research-From-DOL.aspx

Reports highlight need for disability coverage, better education through workplace

... risks and are covered by this important benefit, says a new report by the Advisory Council on Employee Welfare and Pension Benefit Plans. Submitted to the secretary of Labor, the report recommends a comprehensive education campaign for employers and ...

http://eon.businesswire.com/news/eon/20130418005820/en/Reports-highlight-disability-coverage-education-workplace

Retirement Account IRA Cap Proposal in Obama Budget

... you converted it to an annuity. An annuity, if you recall, is basically a series of payments, typically annually. A pension is a type of annuity. Right now, as far as I know, there isn't a cap on retirement accounts (Mitt Romney disclosed he had an ...

http://www.bargaineering.com/articles/retirement-account-ira-cap-proposal-obama-budget.html

Fitch Rates Waukesha County, WI's GO Promissory Notes, Series 2013 'AAA'; Outlook Stable

... rapid debt amortization, and a 20% pay-as-you-go policy for capital projects. The county continues to fully fund pension obligations and has no other post-retirement benefit obligations. CONTINUED STRONG FINANCIAL MANAGEMENT: The rating is sensitive ...

http://www.businesswire.com/news/topix/20130418005953/en

UK: Sainsbury's to relocate 150 head office staff

... plans to move after being unable to dispose of its current Holborn site. "The proposed changes will ensure that pension arrangements for all of our colleagues are fair and sustainable for the future," the spokesperson said. "The proposals involve ...

http://www.just-food.com/news/sainsburys-to-relocate-150-head-office-staff_id122865.aspx?

Rich Ricci: Fat cat Barclays banker retiring just weeks after pocketing 18m shares windfall

... Sir James Crosby who asked for his knighthood to be taken away and voluntarily surrendered 30 per cent of his pension after being heavily criticised for his stewardship at Halifax. Labour MP John Mann called for Mr Ricci to pay back the 18million he ...

http://www.dailymail.co.uk/news/article-2311005/Rich-Ricci-Fat-cat-Barclays-banker-retiring-just-weeks-pocketing-18m-shares-windfall.html?ITO=1490&ns_mchannel=rss&ns_campaign=1490

Montana Senate Advances Pension Plan Overhaul

A proposed overhaul of the state's public employee and teacher pension systems has gotten closer to approval in the Legislature after the state Senate advanced a pair of related measures Wednesday.

http://www.flatheadbeacon.com//articles/article/montana_senate_advances_pension_plan_overhaul/32967/

Designations No Retirement Planner Should Be Without

... to perform third-party administrative services may be more likely to hire someone with the American Society of Pension Professionals and Actuaries (ASPPA) Qualified Pension Administrator (QPA) designation, than someone with the Institute of ...

http://www.investopedia.com/articles/financialcareers/07/plan-designations.asp?partner=rss_headlines

State Affairs: Illinois still a good place -- right?

... a year on average than we took in from revenues, on a $60 billion budget. And we underfunded our public employee pension system by about $2 billion a year on average for the past decade. So taxes went up in 2011, and the typical household now pays ...

http://www.mywebtimes.com/archives/ottawa/display.php?id=474059

Barclays banker Rich Ricci retires weeks after trousering 18m shares ...

... after leaving, unless he gets a new job in the meantime, but Barclays declined to reveal his basic pay and his pension entitlements. He will also continue to be paid bonuses built up under the group's long-term incentive scheme before his ...

http://www.thisismoney.co.uk/money/news/article-2311052/Barclays-banker-Rich-Ricci-retires-weeks-trousering-18m-shares-bonus--years-salary.html?ITO=1490&ns_mchannel=rss&ns_campaign=1490

GAO Warns of Impending Pension Plan Insolvencies

... critical status, but approximately 25 percent did not and instead will seek to delay their eventual insolvency. The Pension Benefit Guaranty Corporation's financial assistance to multiemployer plans continues to increase, and plan insolvencies ...

http://www.accountingtoday.com/news/GAO-Warns-Impending-Pension-Plan-Insolvencies-66308-1.html?CMP=OTC-RSS

Wednesday, April 17, 2013

Bank of America Closes One Mortgage Lawsuit, Another Lingers

... rear its head. The bank announced Wednesday that it would pay $500 million to settle a class-action lawsuit led by pension funds and other investors who say they were misled about mortgage-backed investments they bought from Countrywide, a mortgage ...

http://www.memphisdailynews.com/news/2013/apr/18/bank-of-america-closes-one-mortgage-lawsuit-another-lingers/

The Oregonian's PERS coverage takes first in Best of the West

... by reporting by staff writer Ted Sickinger, The Oregonian has been covering the systemic issues facing the public pension system and potential reforms. "The Oregonian has performed an important public service with its meticulous investigation of the ...

http://www.oregonlive.com/editors/index.ssf/2013/04/the_oregonians_pers_coverage_t.html

UPDATE 1-Calpers approves employer rate hikes of up to 50 percent

... global-minded Canadian business readers. SAN FRANCISCO, April 17 (Reuters) - The board of California's $255 billion pension fund for public employees on Wednesday approved accounting changes requiring employer contribution rate increases of up to 50 ...

http://www.theglobeandmail.com/try-it-now/try-it-now-rob-insight/?contentRedirect=true&articleId=11347596

Canada Post facing 'serious financial challenges' in 2013

... 21, 2012. The agreements included lower starting wages for new hires, wage freezes in 2015 and 2016, and changes to pension, post-retirement health care benefits and sick leave. Because of these savings, the Canada Post Group of Companies - which ...

http://www.cbc.ca/news/business/story/2013/04/17/biz-canada-post-finances.html?cmp=rss

Correction: CalPERS

BofA settles class-action legal suit

... that it would pay US$500 million to settle the lawsuit brought by the Maine State Retirement System and other pension funds which said Countrywide had misled them about the quality of the mortgages they bundled together and sold to investors before ...

http://www.shanghaidaily.com/nsp/Business/2013/04/18/BofA%2Bsettles%2Bclassaction%2Blegal%2Bsuit/

Lettermail volume decline accelerates, hitting 6.4% in 2012

... representatives about the seriousness of Canada Post's financial challenges. The agreements provide for: changes to pension eligibility for new employees. Eligibility for an unreduced pension was raised to 60 years of age and 30 years of service ...

http://www.prnewswire.com/news-releases/lettermail-volume-decline-accelerates-hitting-64-in-2012-203436731.html

Bank of America to pay $500M to settle mortgage investors' class-action suit

... that it would pay $500 million to settle the lawsuit brought by the Maine State Retirement System and other pension funds that said Countrywide had misled them about the quality of the mortgages they bundled together and sold to investors before the ...

http://www.washingtontimes.com/news/2013/apr/17/bank-america-pay-500-million-settle-mortgage-inves/?

CLA announces new version of pension reform

... be needed with the change in Taiwan's population structure and industries." The Cabinet in late January proposed a pension reform plan that detailed a higher premium rate and lower income replacement rate. The council proposed that the labor ...

http://www.chinapost.com.tw/taiwan/national/national-news/2013/04/18/376387/CLA-announces.htm

Simeon Djankov: Europe Needs a Smarter Austerity Debate

... budget deficit was 4.4% of GDP, above the Maastricht limit of 3%. Following cuts in government expenditure and a pension reform that increased the mandatory retirement age by two years, the budget deficit fell to less than 1% last year. Yet ...

http://online.wsj.com/article/SB10001424127887324030704578422522551013546.html?mod=topix

UPDATE 1-Pension woes prompt Moody's to review local governments

Moody's Investors Service has placed the ratings of 29 U.S. local governments and school districts under review as part of its new approach to analyzing public pension liabilities, it said on Wednesday.

http://www.reuters.com/article/2013/04/17/usa-cities-pensions-moodys-idUSL2N0D420G20130417?feedType=RSS&feedName=financialsSector

Canary in a Mine Shaft: Boston?

... fall into the margins of society, working multiple jobs at below living wage scales and no benefits. Defined benefit pension plans are almost non-existent after being replaced by defined contribution retirement plans that have been decimated by ...

http://www.opednews.com/articles/Canary-in-a-Mine-Shaft-Bo-by-Robert-De-Filippis-130417-353.html

Employer contribution hikes paying into Calpers approved

The board of California's $255 billion pension fund for public employees on Wednesday approved accounting changes which its actuarial staff say will fully fund its obligations in 30 years, but will require contribution rate hikes for employers paying into the fund.

http://www.reuters.com/article/2013/04/17/calpers-contributionrates-idUSL2N0D41P520130417?feedType=RSS&feedName=bondsNews

BofA closes one mortgage lawsuit, another lingers

The bank announced Wednesday that it would pay $500 million to settle a class-action lawsuit led by pension funds and other investors who say they were misled about mortgage-backed investments they bought from Countrywide, a mortgage lender Bank of America bought in 2008.

http://www.adn.com/2013/04/17/2867980/bank-of-americas-profit-soars.html

IMF: U.S. public pension funds increasing risk to dangerous levels in search of yield

U.S. pension funds, especially poorly funded plans, are increasing their risk exposure to dangerous levels in the current low-interest-rate environment, according to a report from the International Monetary Fund .

http://www.pionline.com/article/20130417/DAILYREG/130419893/imf-us-public-pension-funds-increasing-risk-to-dangerous-levels-in-search-of-yield

CalPERS approves accounting change that will boost employer contributions

... , Sacramento, will now base the contribution rates paid by state and local government taxpayers on how much the pension fund needs to reach 100% funding within 30 years. The change is projected to cause the rate those governments are charged to ...

http://www.pionline.com/article/20130417/DAILYREG/130419891/calpers-approves-accounting-change-that-will-boost-employer-contributions

Texas Teachers' securities lending program earns $940 million over decade

... $940 million in securities lending revenue from the onset of the program in 2002 through Dec. 31, 2012. In 2012, the pension fund had an average pool of lendable assets totaling $60.5 billion, the average utilization of those assets by borrowers ...

http://www.pionline.com/article/20130417/DAILYREG/130419890/texas-teachers-securities-lending-program-earns-940-million-over-decade

CalPERS contributions could rise 50% in plan to plug funding gap

California taxpayers might see the municipal pension contributions they fund for the $258.3 billion California Public Employees' Retirement System rise as much as 50% under a plan to fill $87 billion in unfunded obligations.

http://www.pionline.com/article/20130416/DAILYREG/130419912/calpers-contributions-could-rise-50-in-plan-to-plug-funding-gap

MABS debt survey: Older mortgage debtors need impartial advice

... with a large mortgage shortfall in retirement and little or no employment opportunity. If they have no occupational pension, they may have to depend entirely on state pension income. MABS believes that these older borrowers need debt write-off ...

http://www.longfordleader.ie/news/business/mabs-debt-survey-older-mortgage-debtors-need-impartial-advice-1-5007236

A New Idea to Fix the Retirement Savings Crisis

The retirement savings crisis in America is so acute that at least one prominent thinker on the subject is calling for a mandatory savings program above and beyond existing 401 and other pension plans.

http://business.time.com/2013/04/17/a-new-idea-to-fix-the-retirement-savings-crisis/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+timeblogs%2Fcurious_capitalist+%28TIME%3A+Business%29

General Electric Offers Investors Below Average Gross Returns Over The Next 5 Years

... believe the stock offers below average growth prospects in relation to price at 15.01x trailing 12-month earnings. Pension and Post Retirement Benefits are massively underfunded. In 2012, GE had approximately $55Bn in Pension and Post Retirement ...

http://seekingalpha.com/article/1347811-general-electric-offers-investors-below-average-gross-returns-over-the-next-5-years?source=feed

Strategies to Pump Up Your Lifetime Income

Low bond yields have raised troubling questions about whether the 4% withdrawal rule still holds up.

http://www.kiplinger.com/article/retirement/T037-C000-S004-strategies-to-pump-up-your-lifetime-income.html

Company Owners Personally Liable for $3.1 Million Withdrawal...

... to observe business formalities and holding property personally. In Central States Southeast and Southwest Areas Pension Fund v. Messina Products, LLC , the U.S. Court of Appeals for the Seventh Circuit ruled that an owner can be personally liable ...

http://www.jdsupra.com/legalnews/company-owners-personally-liable-for-3-98447/

Countrywide Financial settles with retirees for $500 million

... Oregon Public Employees' Retirement System; the Orange County Employees' Retirement System; and the General Board of Pension and Health Benefits of the United Methodist Church, who were appointed additional class representatives in November 2011. ...

http://www.desmoinesregister.com/needlogin?type=login&redirecturl=http%3A%2F%2Fwww.desmoinesregister.com%2Fapps%2Fpbcs.dll%2Farticle%3FAID%3D2013130417007%26nclick_check%3D1

Education pension fund bill should be approved

A bill passed in the recently concluded legislative session would bring solvency to the state's pension fund for education employees without asking taxpayers to shoulder more of the load.

http://www.ruidosonews.com/ruidoso-editorial/ci_22895445/education-pension-fund-bill-should-be-approved.html

Bank of America to settle mortgage investors' class-action

... that it would pay $500 million to settle the lawsuit brought by the Maine State Retirement System and other pension funds who said Countrywide had misled them about the quality of the mortgages they bundled together and sold to investors before the ...

http://www.keprtv.com/news/business/Bank-of-America-to-settle-mortgage-investors-class-action-203410981.html

Report: Tax Software

... deal with it properly. The data used in the state tax return is entered in the Federal Taxes Income Summary in the Pension Plan Withdrawals (1099-R) section. You fill out the details, click NYS Employees in the "Where is this Distribution From?" ...

http://www.macintouch.com/readerreports/taxsoftware/index.html#d17apr2013

Canada Post swings to profit but red ink looms

... t more "fundamental changes" are coming as it works to transform its business. The solvency deficit of the company's pension plan reached $5.9-billion in 2012, up from $4.7-billion the year before, according to the annual report.

http://www.theglobeandmail.com/report-on-business/canada-post-swings-to-profit-but-red-ink-looms/article11327974/?cmpid=rss1

Wednesday Must Reads: Caltrans Failed to Properly Test Bridge Bolts;...

... to push CEQA reform through the legislature. 5. The leadership board for CalPERS, the state's public-employee pension program, approved an accounting change yesterday that likely will incur huge costs for cities and counties in the next few years, ...

http://www.eastbayexpress.com/SevenDays/archives/2013/04/17/wednesday-must-reads-caltrans-failed-to-properly-test-bridge-bolts-report-says-state-regulators-are-not-focused-on-safety

Pensioners' plight deepens despite cost rise

Rome, April 17 - Italian pension spending amounted to 266 billion euros in 2011, up 2.9% over 2010, the country's statistics agency Istat said on Wednesday.

http://www.ansa.it/web/notizie/rubriche/english/2013/04/17/Pensioners-plight-deepens-despite-cost-rise_8569092.html

Elizabeth Warren Already Seems Like a Fit for 2016

Elizabeth Warren supports keeping payments to entitlement recipients just where they are, which would be fine if the U.S. didn't have a massive debt problem.

http://www.buzzle.com/articles/elizabeth-warren-already-seems-like-a-fit-for-2016.html

Bank of America to settle mortgage investors' class-action

... that it would pay $500 million to settle the lawsuit brought by the Maine State Retirement System and other pension funds who said Countrywide had misled them about the quality of the mortgages they bundled together and sold to investors before the ...

http://www.kimatv.com/news/business/Bank-of-America-to-settle-mortgage-investors-class-action-203410981.html

Court: Milwaukee police can't bargain health costs

Two Wisconsin appellate courts bolstered portions of Republicans' contentious collective bargaining restrictions Tuesday, ruling Milwaukee police can't negotiate their own health care costs and a county board legally required elected officials to pay more for their benefits.

http://www.wisinfo.com/apps/pbcs.dll/article?AID=2013304170179

Avoid the dreaded clawback

... taxable income to the absolute minimum required to meet your needs. You can allocate up to 50 per cent of "eligible pension income" - including payments from your investments held within a Registered Pension Plan (RPP) at any age and Registered ...

http://www.waterloochronicle.ca/opinion/avoid-the-dreaded-clawback/

Bank of America to settle mortgage investors' class-action

... that it would pay $500 million to settle the lawsuit brought by the Maine State Retirement System and other pension funds who said Countrywide had misled them about the quality of the mortgages they bundled together and sold to investors before the ...

http://www.kboi2.com/news/business/Bank-of-America-to-settle-mortgage-investors-class-action-203410981.html

Is the retirement-saving crisis real?

I personally believe, and more importantly all the work done at the Center for Retirement Research at Boston College suggests, that households are going to face real challenges in retirement.

http://blogs.marketwatch.com/encore/2013/04/17/is-there-really-a-retirement-saving-crisis/

Bank of America settles lawsuit; profits disappoint

... that it would pay $500 million to settle the lawsuit brought by the Maine State Retirement System and other pension funds who said Countrywide had misled them about the quality of the mortgages they bundled together and sold to investors before the ...

http://www.csmonitor.com/Business/Latest-News-Wires/2013/0417/Bank-of-America-settles-lawsuit-profits-disappoint?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+feeds%2Fwam+%28Christian+Science+Monitor+%7C+Business%29

N.O. water board leader Marcia St. Martin says she will retire this year

... get done after taking a fall during Katrina. St. Martin's retirement comes as the Sewerage & Water Board's generous pension plan -- and St. Martin's retirement package in particular -- have been coming under increasing attack. WVUE-TV reported last ...

http://www.nola.com/politics/index.ssf/2013/04/water_board_leader_marcia_st_m.html

More cuts in 2014 budget plan

... aside this year. Portions of the cuts in the "all others" budget are also set aside for the increased money for the pension agency. Villagomez and Deleon Guerrero, among those in the closed-door meeting, also said the Inos administration is ...

http://www.saipantribune.com/newsstory.aspx?newsID=126771

Gerald Celente Next Guest on the Everything Financial Radio Show

... the 90-day mediation period, Stockton's creditors refused to negotiate unless the city cut payments to the state pension plan, CalPERS. By law, the negotiations were confidential, but that detail emerged during the three-day trial that concluded ...

http://www.sbwire.com/press-releases/gerald-celente-next-guest-on-the-everything-financial-radio-show-238642.htm

No, Ezra Klein, the "Coalition of the Ascendant" Doesn't Want Social Security Cuts

... schemes have been justly criticized as a "failed experiment" because they do not offer the same security as a pension and they entail a number of hidden fees. And there has been a bipartisan war against public pensions at the same time. So there ...

http://www.dailykos.com/story/2013/04/17/1202423/-No-Ezra-Klein-the-Coalition-of-the-Ascendant-Doesn-t-Want-Social-Security-Cuts

Wife part-time Asda due to retire in 2021 will she get full state pension

My wife is 58 in November this year and understands she wont get her state pension until she is 66, however, she is unsure about how much she will receive.

http://www.dailymail.co.uk/money/experts/article-2309993/Wife-time-Asda-retire-2021-state-pension.html?ITO=1490&ns_mchannel=rss&ns_campaign=1490

BofA to settle mortgage investors' class-action

... that it would pay $500 million to settle the lawsuit brought by the Maine State Retirement System and other pension funds who said Countrywide had misled them about the quality of the mortgages they bundled together and sold to investors before the ...

http://www.sfgate.com/business/article/BofA-to-settle-mortgage-investors-class-action-4441054.php

Spain reforms tick boxes but no remedy for slump

... growth, such as credit and tax breaks for small companies, and return to unfinished reforms of the energy sector and pension system. Much of it is expected to be a rehash of structural measures promised last year which were delayed while the ...

http://au.news.yahoo.com/thewest/a/-/world/16781952/spain-reforms-tick-boxes-but-no-remedy-for-slump/

Making tax time rewarding by finding ways to put extra cash in your pocket

... for each child who is a beneficiary of an RESP and contributions can attract valuable government grants and bonds. Pension Income Splitting Spouses and common-law partners can jointly elect to split pension income. This pension income splitting ...

http://www.newswire.ca/en/story/1147567/making-tax-time-rewarding-by-finding-ways-to-put-extra-cash-in-your-pocket

CalPERS Discusses Adoption Of "Investment Beliefs"

... purposes are already spelled out in the California Constitution: "The members of the retirement board of a public pension or retirement system shall discharge their duties with respect to the system solely in the interest of, and for the exclusive ...

http://www.jdsupra.com/legalnews/calpers-discusses-adoption-of-investmen-83297/

Bank of America to pay $500M in investor suit

... that it would pay the $500 million to settle the lawsuit brought by the Maine State Retirement System and other pension funds who said Countrywide had misled them about the quality of the mortgages they bundled together and sold to investors before ...

http://www.newsday.com/business/bank-of-america-to-pay-500m-in-investor-suit-1.5088703

RPT-Fitch Affirms Occidental's IDR at 'A'; Outlook Remains Positive

... million at year-end 2012 and covered probable remediation costs at 161 sites. The funding deficit on the company's pension at year-end 2012 was negative $116 million, which is very modest when scaled to OXY's underlying cash flows. --Continued ...

http://www.reuters.com/article/2013/04/17/fitch-affirms-occidentals-idr-at-a-outlo-idUSFit65509520130417?feedType=RSS&feedName=financialsSector

Bank of America Down Early After Earnings Report

... that it would pay $500 million to settle the lawsuit brought by the Maine State Retirement System and other pension funds who said Countrywide had misled them about the quality of the mortgages they bundled together and sold to investors before the ...

http://news.investors.com/newsfeed-ap/041713-437321-bofa-to-settle-mortgage-investors-class-action.aspx?ref=HPLNews

Bank Of America To Settle Mortgage Investors' $500M Class-Action

... that it would pay $500 million to settle the lawsuit brought by the Maine State Retirement System and other pension funds who said Countrywide had misled them about the quality of the mortgages they bundled together and sold to investors before the ...

http://charlotte.cbslocal.com/2013/04/17/bank-of-america-to-settle-mortgage-investors-500m-class-action/

Tuesday, April 16, 2013

Northern Trust's assets rise 7% in quarter, 13% in year

... o reduce the volatility of funded status The 3rd in a 3-part series that investigates the attitudes and practices of pension funds and E&Fs around risk-management.

http://www.pionline.com/article/20130416/DAILYREG/130419909/northern-trusts-assets-rise-7-in-quarter-13-in-year

France's money managers criticized for poor skills

France's government leaders have bared their financial assets and the ruling is in: they're not very good at money.

http://www.fox23.com/news/world/story/Frances-money-managers-criticized-for-poor-skills/hCXByGWEQU2Aa5x44XYI6w.cspx?rss=80

How Much Will Moorestown Save From Pension Reform?

Moorestown will save more than $500,000 thanks to pension reform signed into law two years ago.

http://moorestown.patch.com/articles/how-much-will-moorestown-save-from-pension-reform

St. Louis County Retirement Plan taps 2 hedge funds-of-funds managers

St. Louis County Retirement Plan, Clayton, Mo., has recommended hiring hedge funds-of-funds managers Corbin Capital Partners and Titan Advisors to run $13 million each, said Kirk McCarley, plan administrator at the $520 million pension fund.

http://www.pionline.com/article/20130416/DAILY/130419910?

Worcester in hunt for private equity manager

Worcester Retirement System is searching for a private equity manager to run $5 million to $10 million in a middle-market buyout strategy, according to an RFP posted on the website of Meketa Investment Group , the $700 million pension fund's investment consultant.

http://www.pionline.com/article/20130416/DAILY/130419911?

CalPERS contributions could double in plan to plug funding gap

Kent District Library searching for DC investment manager

Money managers, think your office rules? Then register for Best Places to Work

Former Canadian banker settles with SEC over using CPPIB insider information

A former Canadian investment banker who consulted the C$172.6 billion Canada Pension Plan Investment Board, Toronto, on investment ideas will pay $340,000 to the SEC to settle charges that he used that information for insider trading.

http://www.pionline.com/article/20130416/DAILYREG/130419915/former-canadian-banker-settles-with-sec-over-using-cppib-insider-information

Fitch Rates Pasco County Schools, FL Cops 'a+'; Outlook Stable

... district. DEBT AND FIXED COSTS CURRENTLY MANAGEABLE: The district's debt levels are low and carrying costs including pension and other post-employment benefits (OPEB) are manageable. Significant levels of variable rate debt expose the district to ...

http://www.businesswire.com/portal/site/topix/index.jsp?ndmViewId=news_view&newsId=20130416006531&newsLang=en&ndmConfigId=1000639&vnsId=41

Gold's decline suggests inflation might not heat up as much as previously thought

... o reduce the volatility of funded status The 3rd in a 3-part series that investigates the attitudes and practices of pension funds and E&Fs around risk-management.

http://www.pionline.com/article/20130416/CHARTOFDAY/130419926/golds-decline-suggests-inflation-might-not-heat-up-as-much-as-previously-thought

French ministers get low grades from money experts

After a scandal in which his now-former budget minister lied about secretly squirreling money abroad, President Francois Hollande forced the 38 ministers in his Socialist-led Cabinet to publish their financial records this week.

http://www.tri-cityherald.com/2013/04/16/2358708/french-ministers-get-low-grades.html

Retired Teachers Make Pitch To Save Health Fund

... years. Red Follman, a retired teacher and head of the Teachers Retirement Board Insurance Committee, said unlike the pension fund this is not an unpaid liability. He said there's nothing in state statute that would require the state to make up for ...

http://www.ctnewsjunkie.com/ctnj.php/archives/entry/retired_teachers_make_pitch_to_save_health_fund/

Manager Sought as Administrator Retirement Looms

... costs?" The cost savings refer to benefits that come along with a municipal position, including health insurance and pension. Benefits could amount to as much as $20,000 annually, the committee said. "Maybe it's time to review the entire ...

http://longvalley.patch.com/articles/manager-sought-as-administrator-retirement-looms

Shelby County revs up search for investment consultant

The $1 billion pension fund is conducting the search because it has been more than five years since the services were last put out to bid, Mr.

http://www.pionline.com/article/20130416/DAILY/130419917?

Correction: Holyoke Contributory Retirement System

New Mexico Educational looking for passive international equity manager

... managed by AllianceBernstein ( AB ) and Baring Asset Management , which total about $200 million. The $10.1 billion pension fund is "generally moving more toward passive" investments, Mr. Jacksha said in a telephone interview. The international ...

http://www.pionline.com/article/20130416/DAILY/130419919?

Phoenix Employees' Deferred Compensation Board seeks investment consultant

... o reduce the volatility of funded status The 3rd in a 3-part series that investigates the attitudes and practices of pension funds and E&Fs around risk-management.

http://www.pionline.com/article/20130416/DAILY/130419925/phoenix-employees-deferred-compensation-board-seeks-investment-consultant?

Breaking the State's Control of Municipal Pensions in Massachusetts

... to employees, effectively precluding local governments from having full control of their fiscal destiny. As unfunded pension and retiree healthcare obligations continue to mount in local governments in Massachusetts - as across the country - at ...

http://reason.org/news/show/massachusetts-pensions-greenfield

Republican opposition is growing to a bipartisan Senate plan for expanding background checks for firearms buyers.

http://www.news10.com/story/21992451/french-ministers-get-low-grades-from-money-experts

Oregon Democrats' tax plan could have vote with PERS bill

A tax package setting a new top rate for corporations and limiting some deductions and exemptions for high earners could get a committee vote tomorrow in the Oregon Legislature.

http://www.oregonlive.com/politics/index.ssf/2013/04/oregon_democrats_tax_plan_coul.html

Grand jury dings San Mateo County for failing to rein in soaring...

San Mateo County doesn't have enough money to cover promised retirement costs that could total $2 billion, not the $1 billion estimated by the agency managing employees' pension fund, a civil grand jury concluded in a report released Monday.

http://www.willitsnews.com/ci_23033143/grand-jury-dings-san-mateo-county-failing-rein?

Reading Health Systemlays off 210 employees

The parent company of Reading Hospital, Reading Health System, laid off 210 employees today as part of a cost-cutting plan that also will eliminate an additional 181 jobs through attrition and change the employee retirement package from a defined-benefit pension to a 401 plan.

http://lucianne.com/thread/?artnum=731429

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