Defined benefit plans

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  1. Big public funds' portfolios outperform their indexes

    trueBucking persistent criticism of hedge fund returns coming from many quarters this year, chief investment officers of big state pension funds were able to report strong returns for their hedge fund portfolios.

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  1. Promise now, pay later

    trueWhen a California judge ruled in October that the city of Stockton could exit bankruptcy protection without cutting its public-sector retirement obligations, the decision drew the ire of creditors and highlighted the outsized role public pensions play in municipal finance.

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  2. Congress did the right thing to protect multiemployer plans

    trueCongress made the right decision to allow severely financially distressed multiemployer pension plans to cut retiree benefits.

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  3. Assets of top 50 U.K. pension funds jump 15.5%

    trueThe 50 largest pension funds in the U.K. had about £603.2 billion ($1.03 trillion) in assets as of June 30, an increase of 15.5% compared with the same date in 2012, according to Pensions & Investments' survey of the funds.

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  4. New concerns arise for asset owners, but an old one never left

    trueAsset owners will have some relatively new worries in 2015 — geopolitical risk, oil-price declines and the impact of changes in mortality tables on funding — but there’s also a familiar concern revolving around interest rates.

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  5. Multiemployer plans can cut benefits to stay solvent

    trueTrustees of distressed multiemployer pension funds got new tools to avert insolvency in a package of reforms approved by Congress in mid-December, including the right to reduce benefits for active workers and retirees in deeply underfunded plans.

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  6. The state of U.K. pension funds and managers

    trueAssets at both U.K. pension funds and money managers continue to grow.

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  7. San Diego County eyes CIO hiring in early February

    trueSan Diego County Employees Retirement Association expects to begin interviews for an internal chief investment officer on Jan. 5 with a selection to be made as early as Feb. 6.

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  8. Sonoma County conducting invitation-only search to replace PIMCO

    trueSonoma County Employees’ Retirement Association, Santa Rosa, Calif., is conducting an invitation-only search for an unconstrained fixed-income manager to run $65 million, said Steven Marsh, investment analyst.

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  9. OECD: Largest pension funds still slow on infrastructure despite higher alts allocations

    trueInfrastructure investing activity remains low among the largest pension funds and public pension reserve funds worldwide, despite increased allocations to other alternative investments, a report from the Organization for Economic Co-operation and Development showed.

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  10. Church of England grows U.K. forestland portfolio with £49 million acquisition

    trueThe Church Commissioners for England, London, have become the largest private commercial forestry investor in the U.K., with a deal to purchase a £49 million ($76.8 million) forestry portfolio.

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  11. Illinois Municipal considers switching U.S. equity benchmark to Russell 3000

    trueIllinois Municipal Retirement Fund, Oak Brook, next month will consider changing its U.S. equity benchmark to the Russell 3000 from the Dow Jones Total Stock Market index.

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  12. District of Columbia Retirement Board terminates PIMCO

    trueDistrict of Columbia Retirement Board, Washington, terminated Pacific Investment Management Co. from an active domestic core-plus fixed-income portfolio at a board meeting Thursday.

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  13. San Antonio Fire & Police sets sights on international equity emerging manager

    trueSan Antonio Fire & Police Pension Fund is searching for an emerging manager to run an international equity strategy.

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