News and Videos on Account from Pensions & Investments
ASPPA name change reflects broader scope
trueThe American Society of Pension Professionals & Actuaries has changed its name to the American Retirement Association.
European Central Bank taps Deloitte as pension fund actuary
trueEuropean Central Bank hired Deloitte Consulting in Germany as actuary for its ECB Pension Funds.
U.K. companies increasing pension fund amortization periods
trueCompanies are increasingly lengthening their pension fund amortization periods by three years or more in an effort to relieve pressure on repairing funding gaps, new research shows.
IASB chairman: Hybrid retirement plans need new accounting standards
trueThe increased number of retirement plans that take a hybrid approach has led to the launch of a research project by the International Accounting Standards Board into the development of new accounting standards.
Society of Actuaries: Expect long-term increase to minimum required contributions
trueMinimum required contributions for private-sector defined benefit plans have dipped in recent years, but are poised to rise again in the long term, the Society of Actuaries said.
Fitch: GASB 67 a mixed bag for public pension funds
trueSome public pension funds are reporting higher asset values under GASB 67 because of strong returns in recent years, said a new report from Fitch Ratings.
CFA Institute names new president, CEO
truePaul H. Smith was named president and CEO of the CFA Institute, effective Tuesday.
Oklahoma Public Employees re-signs actuary, auditor
trueOklahoma Public Employees Retirement System rehired Cavanaugh Macdonald Consulting and Finley & Cook as its actuarial consultant and internal auditor, respectively, pending successful contract negotiations.
Arizona auditor general taps Gallagher for performance audit of 2 pension funds
trueArizona Office of the Auditor General hired Gallagher Fiduciary Advisors to conduct a performance audit of the $33.7 billion Arizona State Retirement System and $8.1 billion Arizona Public Safety Personnel Retirement System.
Iowa PERS seeks independent audit, evaluation of actuary
trueIowa Public Employees’ Retirement System is searching for a firm to provide actuarial audit services
Mercer: Industry-specific mortality assumptions can alter pension liabilities
trueSome corporate defined benefit plans would be better served by adopting industry-specific mortality assumptions rather than the new Society of Actuaries mortality tables, said a recent webcast from Mercer.
NYC comptroller seeks review of asset management office, preps consultant search
trueNew York City comptroller's office is searching for a firm to conduct a management and operation review of the Bureau of Asset Management, the unit responsible for assisting the boards of the five pension funds that make up the New York City Retirement Systems.
Irving pension fund sues Tesco for fraud
trueTesco PLC and its directors misled investors about its financial health, according to a Texas pension fund that sued the U.K.’s biggest retailer just as it’s facing an onslaught from rival European companies.
Solutions to the pension crisis
trueIf U.S. pensions funds were to mark-to-market assets and liabilities, they would have a deficit of about $4 trillion. If TARP I was a national emergency at $800 billion, what do you call this?
Colorado PERA signs up for actuarial audit
trueColorado Public Employees’ Retirement Association, Denver, hired Milliman to provide actuarial audit services.