Defined benefit plans
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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.
Unilever enters into buy-in with Legal & General on expatriate fund
trueUniac Pension Fund agreed to a buy-in with Legal & General Group to insure £129 million ($208.5 million) of liabilities.
Phoenix City Employees commits to 2 real estate funds
truePhoenix City Employees’ Retirement System committed $30 million each to Northwood Real Estate Partners Series V, a non-core real estate fund managed by Northwood Investors, and Real Estate Capital Asia Partners IV, an opportunistic non-core real estate fund managed by SC Capital Partners.
Lockheed Martin to forgo pension contributions in 2015 through 2017
trueLockheed Martin Corp. announced Tuesday it has contributed $1 billion in contributions to its defined benefit plans thus far in 2014 out of an expected $2 billion and does not expect to make further contributions for at least three more years.
Dallas Police & Fire splits administrator position, looking to fill 2 roles
trueDallas Police & Fire Pension System decided to split the retirement administrator position into two roles — an executive director/CEO and chief investment officer.
Kansas City Police puts $45 million in Fidelity real-return fund
trueKansas City (Mo.) Police Employees’ Retirement System invested $45 million in Fidelity Investments’ Strategic Real Return mutual fund.