Defined benefit plans
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Daughters of Charity Health System church plan challenged
trueAnother church-affiliated hospital system is being sued by employees challenging its defined benefit plan’s exemption from federal pension law.
Oklahoma PERS names new executive director
trueJoseph A. Fox was named executive director of the $8.5 billion Oklahoma Public Employees Retirement System effective Nov. 1.
Canadian pension funds return 1.1% in quarter on foreign currency gains
trueCanadian defined benefit plans in the RBC Investor & Treasury Services universe returned 1.1% in the third quarter and 8.6% for the first nine months of 2014.
2 senators call for derisking rules
trueSenate Finance Committee Chairman Ron Wyden, D-Ore., and Senate Health, Education, Labor and Pensions Committee Chairman Tom Harkin, D-Iowa, want federal regulators to set clear guidelines for employers undertaking pension derisking.
Education firm RM enters into pension buy-in with PIC
trueRM PLC, Abingdon, England, agreed to a buy-in with Pension Insurance Corp. to insure 13% of the liabilities of the company's defined benefit plan.
Chicago gets new city treasurer
trueKurt Summers Jr. on Wednesday was appointed Chicago city treasurer by Mayor Rahm Emanuel, effective Dec. 1.
Coatesville, Pa., seeks consultant for 3 pension funds
trueCoatesville, Pa., is searching for an investment consultant for its police, fire and non-uniform pension funds.
Towers Watson launches non-profit think tank to improve investment industry
trueTowers Watson is launching a global, non-profit think tank comprising asset owners, investment managers and other services providers that will focus on improving the investment industry for end savers.
Ryder System offers lump sums to former employees
trueRyder System Inc. is offering a lump-sum payment to about 11,000 former employees vested in its frozen U.S. defined benefit plan, the company announced in an SEC filing on Wednesday.
Boeing contributes $750 million to pension funds in 3rd quarter
trueBoeing Co. contributed $750 million to its defined benefit plans in the quarter ended Sept. 30, the company said Wednesday in a Securities and Exchange Commission filing.
Santa Barbara County takes interim tag off new CEO
trueGreg Levin was named CEO of the $2.5 billion Santa Barbara County (Calif.) Employees’ Retirement System.
Alameda County commits additional $15 million to Angelo Gordon fund
trueAlameda County Employees' Retirement Association made a follow-on commitment of $15 million to AG Opportunistic Whole Loan Fund, a direct loan fund that invests in residential mortgage loans managed by Angelo Gordon & Co.
New Orleans mayor creates pension reform group to sustain firefighters plan
trueNew Orleans Mayor Mitch Landrieu signed an executive order establishing a pension reform working group to recommend changes to the New Orleans Fire Fighters Pension & Relief Fund.
BT loses battle at top EU court to block pension aid repayment
trueBT Group PLC, the U.K.'s former phone monopoly, and its pension fund lost their bid to overturn a European Union order forcing the repayment of as much as £16.6 million ($26.6 million) in exemptions from pension rules.
Lexington Contributory Retirement seeks senior direct lending manager
trueLexington (Mass.) Contributory Retirement System is searching for a manager to run about $5 million in a senior direct lending portfolio.