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FSBA report finds gains correlated with proxy-voting decisions
trueFlorida State Board of Administration's proxy-voting decisions correlated with a 9.4% increase in cumulative returns based on the original value of holdings, adding $178 million in appreciation to its assets, according to a new study from the FSBA.
FASB to address net pension costs on income statements
trueThe Financial Accounting Standards Board will develop guidance on how companies present the net periodic cost of pensions and other postretirement benefits on their income statements.
3 New Zealand asset owners hire BMO for ESG engagement services
trueThree large public asset owners in New Zealand with combined assets of roughly NZ$65 billion ($44.4 billion) hired BMO Global Asset Management to engage with the management of companies they invest in globally on environmental, social and governance-related issues.
Supreme Court declines 'reverse stock-drop' case
trueThe Supreme Court on Monday declined to review a “reverse stock-drop” case brought by fiduciaries of the R.J. Reynolds Tobacco Co. 401(k) plan hoping to undo a lower court ruling that they breached their duties.
ICI: U.S. retirement assets increase 1.3% in quarter on DC, IRA gains
trueTotal U.S. retirement assets rose 1.3% in the quarter ended March 31 to $24.9 trillion, said the Investment Company Institute's recently released quarterly report.
Corporations face looming pension bills
trueThe pending expiration of federal contribution relief and increasing longevity mean U.S. corporations face the need for large contributions to their pension plans in coming years.
Qantas Super CEO to retire at end of 2015
trueJane Perry, CEO of Qantas Superannuation, Sydney, will retire at the end of 2015.
Lane Clark: Secondary annuity transactions could help pension funds match liabilities
trueDefined benefit plans could buy up annuities on the secondary market to match changes in long-term interest rates and longevity, said pension fund consultant Lane Clark & Peacock.
Quebec's Caisse, APG Asset Management invest in China real estate developer
trueA unit of the Caisse de Depot et Placement du Quebec and the money manager for Stichting Pensioenfonds ABP raised a combined $920 million to invest in Chinese retail real estate developer Chongbang Group.
Japan's GPIF looking to fill positions overseeing governance, external managers, legal matters
trueJapan’s Government Pension Investment Fund is searching for three positions overseeing the pension fund’s activities related to the stewardship code the GPIF adopted last year, legal matters and external managers.
GSAM: Higher allocations to U.K. equities hurt FTSE 350 pension funding in 2014
trueA tendency to overallocate to domestic equities caused the defined benefit plans of the U.K.'s FTSE 350 companies to suffer in 2014, said Goldman Sachs Asset Management.
CII names Amy Borrus as interim director
trueAmy Borrus was named interim executive director of the Council of Institutional Investors on Monday.
Drilling deeper in corporate pay
trueAsset owners and other institutional shareholders face a new corporate governance issue to wrestle with as a result of a proposed Securities and Exchange Commission rule dealing with corporate compensation.
FedEx adopts mark-to-market pension accounting
trueFedEx Corp., Memphis, Tenn., has adopted mark-to-market pension accounting, effective with the operating results for its fiscal year ended May 31, the company said in an 8-K filing with the Securities and Exchange Commission on Friday.
Hewlett-Packard settles $810 million in pension liabilities through lump-sum offer
trueHewlett-Packard Co., Palo Alto, Calif., settled about $810 million in U.S. defined benefit plan liabilities in May, following a voluntary lump-sum offer made to former employees vested in the plan who have yet to retire.