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New initiative to focus on challenging pension funds over climate change risk
truePension funds that fall short of assessing and mitigating risks arising from climate change could be in breach of their legal duties, warn two non-governmental organizations.
Nearly a third of workers have less than $1,000 saved for retirement
trueTwenty-eight percent of workers said they had less than $1,000 in savings and investments (excluding the value of their primary residence or defined benefit plan assets), according to the Employee Benefit Research Institute’s 25th annual Retirement Confidence Survey, released earlier this week.
Rep. Crowley calls for universal retirement accounts
trueRep. Joseph Crowley, D-N.Y., laid out a sweeping proposal for increasing Americans' retirement savings and other long-term needs Tuesday.
POLL: What was the leading contributor to the drop in funded status?
trueFunded status of the top 100 corporate pension funds fell in 2014. What was the leading contributor to the drop?
South Korea's national pension fund returns 5.25% in 2014, continues overseas diversification
trueSouth Korea’s 469.8 trillion won ($434.1 billion) National Pension Service, Seoul, continued to diversify into overseas assets in 2014, helping to offset the local stock market’s decline, its latest annual report shows.
Norway's sovereign wealth fund, Prologis acquire $5.9 billion U.S. real estate portfolio
trueNorges Bank Investment Management, the in-house manager of Norwegian sovereign wealth fund Government Pension Fund Global, Oslo, will acquire a 45% stake in a U.S. industrial real estate portfolio.
Voya Financial taps former Great-West president as CEO of retirement
trueCharles P. Nelson was named CEO of retirement for Voya Financial, effective May 1.
DOL's proposed fiduciary rule on advice gets a thumbs-up
trueDefined contribution industry executives are optimistic that after nearly four years of work and intense debate, the Department of Labor's proposal for updating a 40-year fiduciary standard for anyone giving retirement investment advice will finally bring greater protection for their participants ...
DC plans playing catch-up on education for roll-ins
trueDefined contribution plans are allowing employees to roll in disparate retirement account balances from previous employers and individual retirement accounts, trying to help reduce the burden of managing multiple accounts and take advantage of lower fees.
Corporate pension funding ratios fall in 1st quarter, reports say
trueFunding ratios of U.S. corporate defined benefit plans fell further in the first quarter of 2015, three new reports state, as liabilities rose faster than assets.
Pensions, Canadian style
trueA look at defined benefit plans of Canadian companies in the S&P/TSX 60 index.
Institutional use of ETFs due to grow next year
trueSome 34% of officials at defined benefit plans, foundations and endowments say they use ETFs or ETNs, and of those, one-quarter plan to increase their usage, a new Pensions & Investments survey shows.
GE holds talks with sovereign wealth funds for sale of finance assets
trueGeneral Electric Co. has held talks with “a broad geographic spectrum” of sovereign wealth funds as part of the effort to sell the bulk of its financial business, said Jeff Bornstein, senior vice president and chief financial officer.
John Lewis Partnership taps Legal & General to administer DC plan
trueJohn Lewis Partnership, London, hired Legal & General as administrator for the defined contribution section of its new hybrid retirement plan, a John Lewis spokesman said.
Greenwich: Institutional investors calling on social media for investment decisions
trueInstitutional investors are turning to social media to help inform investment decisions and shape conversation around allocations, said a new Greenwich Associates study.