News and Videos on Account from Pensions & Investments
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.
Good returns ease public pension fund fears as GASB changes take hold
trueThe first batch of public pension fund financial reports under new accounting standards will be out this fall, and after a bumpy adjustment period, the preliminary results so far are good — or at least not as bad as expected.
U.K. accounting changes could slash pensions on balance sheets
trueProposed changes to pensions accounting standards could wipe more than £25 billion ($42 billion) from FTSE 350 company balance sheets
Iowa Municipal Fire & Police seeks actuarial auditor
trueIowa Municipal Fire & Police Retirement System issued an RFP for an actuarial audit services firm.
Chicago Municipal fund searching for actuary
trueChicago Municipal Employees' Annuity & Benefit Fund is searching for an actuarial consultant.
New actuary tables may be 'nail in the coffin' for DB plans
trueThe measured value of liabilities for most defined benefit plans will increase between 3% and 8% with the adoption of new mortality tables, said a report from Wilshire Consulting.
Hedge funds, banks come under fire for basket options
trueRenaissance Technologies, Barclays Bank PLC, and Deutsche Bank AG were criticized for misusing structured financial products to avoid taxes and banking leverage limits.
GMI to expand its ratings to emerging markets
trueGMI Ratings will introduce a combined set of accounting and governance ratings on some 9,000 companies in nearly 60 emerging markets countries.
Tax minimization not always the best policy
trueGoogle Inc. shareholders were scheduled to vote on a proposal May 14, sponsored by my firm, seeking the adoption of a responsible code of conduct to guide the company's global tax strategies. I expect this proposal has prompted a quizzical reaction from many investors who assume that minimizing ...
European Court of Justice rejects U.K.'s challenge to financial transaction tax
truehe U.K.'s challenge to the introduction of a tax on financial transactions in the European Union was rejected by the European Court of Justice, leaving the pensions industry concerned over the negative effect on savings.
Impact of GASB's new pension rules on government bond ratings
trueFor many public sector retirement plan sponsors, the Governmental Accounting Standards Board's new pension reporting rules couldn't have come at a worse time. The changes, effective June 15 and encapsulated in GASB Statements 67 and 68, mandate that governmental balance sheets reflect unfunded ...
Alaska retirement plans searching for actuarial consultant
trueAlaska Division of Retirement & Benefits, Juneau, is searching for an actuarial consultant for the state’s seven retirement plans, wrote Jim Puckett, chief operations officer, in an e-mail.
CalSTRS' unfunded liabilities rise $2.7 billion
trueCalSTRS' unfunded actuarial obligation has increased to $73.7 billion as of June 30, up $2.7 billion from the previous year, according to a pension fund report.