Defined benefit plans
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Los Angeles board strikes down city's bid to roll back pensions
trueLos Angeles officials violated the law when they rolled back pension benefits for new employees in 2012, the city Employee Relations Board ruled, jeopardizing as much as $4.3 billion in projected savings over 30 years.
NYC Retirement Systems post 17.4% fiscal year return
trueNew York City Retirement Systems achieved an estimated return on investments of 17.4% for the fiscal year ended June 30, said a news release issued Monday by Comptroller Scott Stringer, adviser and custodian for the five pension funds that make up the retirement system.
Penbridge and P-Solve form alliance for risk transfer services
truePenbridge Advisors and P-Solve announced on Monday a strategic alliance to provide pension risk transfer services for U.S. corporate defined benefit pension plans.
NYSTRS earmarks $300 million to 4 funds
trueNew York State Teachers' Retirement System, Albany, committed $300 million to private equity and real estate funds.
LA City terminates manager, commits to private equity, selects commodities finalists
trueLos Angeles City Employees' Retirement System terminated Boston Company Asset Management for performance reasons, minutes from a July board meeting show.
Oklahoma Teachers reports 22% fiscal year return
trueOklahoma Teachers’ Retirement System, Oklahoma City, returned 22% net of fees for the fiscal year ended June 30, surpassing the 18.1% custom benchmark return.
DFW Airport commits $15 million to Constitutional Capital
trueDallas/Fort Worth International Airport committed $15 million to Constitution Capital Ironsides III Private Equity Fund.
Franklin Employees picks Longfellow for active core bonds
trueFranklin (Tenn.) Employees’ Pension Fund hired Longfellow Investment Management to run between $5 million and $10 million in an active domestic intermediate-term core fixed-income portfolio.
Schneider Electric names U.K., Ireland pensions manager
trueJerry Gandhi joined Schneider Electric as pensions manager for the U.K. and Ireland..
Philips does pension buy-in with Prudential for U.K. plan
truePhilips Pension Fund, Guildford, England, entered into a £300 million ($509.4 million) pension buy-in with Prudential U.K., its second buy-in in the past year.
American Airlines to contribute additional $600 million to pension plans
trueAmerican Airlines Group Inc. expects to contribute an additional $600 million to its defined benefit plans in 2014, said the company's second-quarter earnings report filed Thursday.
Oklahoma Police launches search for large-cap core manager
trueOklahoma Police Pension & Retirement System is searching for a passive domestic large-cap core equity manager to run approximately $350 million.
N.Y. State Teachers shows 12.8% hike in assets
trueNew York State Teachers' Retirement System, Albany, reported an estimated $107.6 billion in assets for the fiscal year ended June 30, an all-time high and a 12.8% gain from the $95.4 billion a year earlier.
NOW: Pensions announces changes to investment fund
trueExecutives at multiemployer trust NOW: Pensions, London, have made changes to the plan following announcements in the U.K. budget.
London Councils seeks asset servicer for collective pension fund
trueLondon Councils is searching for a custodian for a collective investment fund for 33 local authority pension funds in London.