Defined benefit plans
Watch breaking news videos and read news updates about Defined Benefit Plans on pionline.com
Kansas governor signs bill to issue $1 billion in pension bonds
trueKansas Gov. Sam Brownback signed off on a bill to issue $1 billion in pension obligation bonds for the $16 billion Kansas Public Employees Retirement System, Topeka.
Kentucky Retirement Systems executive director to retire at end of 2015
trueWilliam A. Thielen, executive director of the Kentucky Retirement Systems, Frankfort, plans to retire by the end of 2015, said David Peden, chief investment officer.
Moody's further downgrades New Jersey bonds, citing pension shortfalls
trueMoody's Investors Service downgraded New Jersey's general obligation bonds by one notch to A2, citing the state's “weak financial position and large structural imbalance, primarily related to continued pension contribution shortfalls.”
Wisconsin Investment Board pays investment staff $10.3 million incentive compensation
trueState of Wisconsin Investment Board, Madison, paid $11.9 million in incentive compensation to staff in 2014 for exceeding investment performance benchmarks over the past five years.
Ontario Public Service Pension Plan posts 8.4% return in 2014
trueOntario Pension Board, which manages assets for the Public Service Pension Plan, Toronto, returned 8.4% on its investments in 2014, helping raise its overall assets to C$22 billion ($17.6 billion), said preliminary results released Thursday.
CPPIB, Caisse to open offices in Mumbai
trueCanada’s two largest public pension fund managers will open offices in Mumbai as part of agreements announced Thursday by Canadian Prime Minister Stephen Harper during meetings with Indian Prime Minister Narendra Modi in Toronto.
Wilshire: S&P 500 funded status plummets in 2014 despite strong returns
trueThe aggregate funded status for pension plans sponsored by S&P 500 companies fell 720 basis points to 82.5% in 2014 as liability growth outpaced assets, said an annual report from Wilshire Consulting.
Sacramento County charts private equity commitments for 2015
trueSacramento County (Calif.) Employees’ Retirement System is targeting $285 million in total commitments to nine private equity funds this year, recently released board meeting minutes show.
Manchester Employees starts asset-liability study
trueManchester (N.H.) Employees’ Contributory Retirement System is conducting an asset-liability study, said Gerard Fleury, executive director.
Louisiana Municipal Police Employees sets private equity pacing plan for 2015
trueLouisiana Municipal Police Employees Retirement System, Baton Rouge, will commit $15 million each to a secondary private equity fund and a private equity fund of funds later this year.
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.
BofA survey: Health-care costs hindering retirement plan and other benefits
trueRising health-care costs are putting pressure on some 401(k) plan executives to reduce certain other benefits, including those related to retirement accounts and employee education, a survey by Bank of America Merrill Lynch said Thursday.
CalSTRS selects 2 international equity managers
trueCalSTRS intends to hire AQR Capital Management and Pzena Investment Management to run international equity strategies.
PennPSERS taps state representative as new executive director
trueGlen R. Grell was named executive director of the $51.7 billion Pennsylvania Public School Employees’ Retirement System.
Strathclyde Pension Fund considering new asset allocation to reduce equity exposure
trueStrathclyde Pension Fund, Glasgow, Scotland, is considering a reduced equity exposure in favor of a more diversified investment portfolio.