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Some 39% of benefit plan audits show major deficiencies — EBSA study
trueSome accountants auditing employee benefit plans have a quality problem, said a study published Thursday by the Department of Labor's Employee Benefits Security Administration.
Coal divestment on tap at Norway's Government Pension Fund Global
trueThe Government Pension Fund Global could be forced to divest its allocations to certain coal companies, following a unanimous decision by the finance committee of the Storting, the Norwegian parliament.
MassMutual hires vice president of institutional markets
trueMichele Baldasarre was named vice president of institutional markets for MassMutual Retirement Services, in charge of relationship management for the firm’s large retirement plan clients.
Alaska Permanent taps 2 for consulting
trueAlaska Permanent Fund Corp. hired TorreyCove Capital Partners and LP Capital Advisors as consultants for private market and special opportunity investments.
Canada to consider additional voluntary contributions to Canada Pension Plan
trueThe Canadian government will hold consultations this summer “with experts and stakeholders” about whether to allow voluntary additional contributions to the C$264.6 billion ($220.3 billion) Canada Pension Plan, Ottawa, said Joe Oliver, Canada finance minister.
Aegon: Retirement readiness improving globally, but still far off
trueWhile retirement readiness is improving, many respondents to an Aegon survey fail to plan for their retirement properly or have an appropriate backup plan in place.
Abu Dhabi Investment Authority hires head of U.S. internal equities group
trueJohn Pandtle joined the Abu Dhabi Investment Authority as head of U.S. in its internal equities department.
Institutional investors urge G-7 to support emission reductions globally
trueRepresentatives from some of the world’s largest pension funds, endowment funds and money managers signed a letter to the finance ministers of G-7 countries urging them to support a move to a low-carbon investment environment.
Alaska Permanent approves private markets pacing schedule for fiscal year
trueAlaska Permanent Fund Corp. approved a private markets pacing plan for fiscal year 2016, which starts July 1, and amended its infrastructure and absolute-return investment policies.
Democratic senators urge Obama to clarify rules on state-sponsored private-sector plans
trueA group of Democratic senators are urging President Barack Obama to act “as soon as possible” to provide clarity to states interested in sponsoring private-sector retirement plans.
Alaska Permanent Corp. earmarks $50 million to alternative credit fund
trueAlaska Permanent Fund Corp. committed $50 million to Audax Mezzanine Fund IV, documents prepared for this week’s board meeting show.
Washington latest state to encourage workplace retirement plans
trueA new law in the state of Washington to expand the number of workplace retirement plans adds momentum to state efforts to get more of their citizens to start saving.
GIC, CPPIB form joint venture for $263 million purchase of Seoul mall
trueGIC, the Singapore sovereign wealth fund, and Canada Pension Plan Investment Board announced Monday they had formed a joint venture partnership to acquire the D-Cube retail mall in Seoul from Daesung Industries for $263 million.
P&I extends registration deadlines for 2 programs
trueDeadlines for registering for Best Places to Work in Money Management and the Innovator Awards have been extended.
Experts dissecting fiduciary rule's carve-outs
trueDefined contribution industry participants are paying close attention to the carve-outs — exemptions distinguishing non-fiduciary behavior from fiduciary behavior — in the Labor Department's fiduciary rules proposed last month.