Defined benefit plans
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Moody's: Older IRS mortality tables could save sponsors $18 billion next year
trueThe IRS' decision to stick with 15-year-old mortality assumptions will save corporate defined benefit plan sponsors at least $18 billion in contributions in 2016 and be a credit positive for them, said a report from Moody's Investors Service.
Chicago water pension fund terminates emerging manager Holland Capital
trueChicago Metropolitan Water Reclamation District Retirement Fund terminated Holland Capital Management from a $15 million active domestic large-cap growth equity portfolio.
IRS releases multiemployer benefit cut voting rules
trueProcedures for allowing multiemployer plan participants to vote on benefit reductions in distressed plans were issued by the IRS on Wednesday.
Chicago Transit Authority drops Invesco
trueChicago Transit Authority Employees Retirement Plan terminated Invesco as an active domestic large-cap core equity manager.
Houston Municipal slates $25 million for real estate, hedge fund
trueHouston Municipal Employees Pension System committed or invested $25 million total to two funds.
Kentucky Teachers assigns $145 million to 2 managers
trueKentucky Teachers’ Retirement System, Frankfort, committed $145 million total to two alternative funds.
Ohio PERS taps deputy director as new CIO
trueRichard D. Shafer was named chief investment officer at the Ohio Public Employees Retirement System.
Holyoke Contributory Retirement seeking real estate managers
trueHolyoke (Mass.) Contributory Retirement System is searching for real estate managers to run $9 million in core open-end strategies and $10 million in value-added closed-end funds.
Taunton Contributory Retirement System launches midcap search
trueTaunton (Mass.) Contributory Retirement System is searching for active midcap equity managers to run $10 million for the $270 million pension fund.
Nebraska Investment Council allocates more to UBS real estate fund
trueNebraska Investment Council made a follow-on commitment of $6 million to UBS Trumbull Property Income Fund, managed by UBS Realty Investors, for the $1.2 billion general endowment pool the council oversees.
Coral Gables Retirement hires first hedge fund-of-funds manager
trueCoral Gables (Fla.) Retirement System hired Titan Advisors to manage an $18 million hedge fund-of-funds portfolio, pending contract negotiations.
Walt Disney Co. appoints treasurer with oversight of pension plans
trueJonathan S. Headley was named senior vice president and treasurer at The Walt Disney Co.
Hollywood Employees pension plan increases Baird bond portfolio
trueHollywood (Fla.) Employees Retirement Fund added $5 million to Baird Advisors’ active domestic fixed-income portfolio, giving the manager a total of $46 million.
Greenwich Associates sees continued diversification by institutional investors in Asia
trueInstitutional investors in Asia ex-Japan have made dramatic progress in diversifying their portfolios since the global financial crisis, a trend that should continue to benefit managers of global equities and alternative strategies, a Greenwich Associates survey showed.
Mercer: Equity market turmoil pushes corporate pension funding levels down in August
trueThe estimated aggregate funding ratio of pension plans sponsored by S&P 1500 companies fell two percentage points to 81% in August, said a report released Tuesday by Mercer.