Not-for-profit pension plans
News and video about Not-for-profit pension plans from Pensions & Investments
Pension funds lose securities lending suit against Wells Fargo
trueWells Fargo & Co. did not breach its fiduciary duty when several pension funds lost money through the bank's securities lending program, a federal court judge in St. Paul, Minn., has ruled.
Challenges to 2 church plans move forward
trueTwo recent court decisions are adding fuel to the fire over the use of church plan exemptions.
Hartford HealthCare searching for hedge fund managers following $350 million program launch
trueHartford HealthCare, Hartford, Conn., recently launched a $350 million program to make direct investments in hedge funds for its $2.35 billion pension and endowment system.
Church of England makes buy-in
trueThe Church of England Pensions Board agreed to a buy-in with Prudential U.K. for £100 million of the £295.7 million defined benefit section of the Church Workers Pension Fund, confirmed a spokeswoman for the fund.
Laurentian University eyes investment consultant for four plans
trueLaurentian University, Sudbury, Ontario, is searching for an investment consultant for four retirement benefit plans.
U.N. pension fund seeks consultant for asset-liability study
trueUnited Nations Joint Staff Pension Fund, New York, is searching for a consultant to do an asset-liability study.
Jackson Health System dives into hedge fund of funds
trueJackson Health System Public Health Trust’s pension fund committee recommended hiring Blackstone Group to run about $29 million in its Blackstone Partners Fund, a hedge fund of funds.
MBTA Retirement Fund posts 16.2% return in 2013
trueMBTA Retirement Fund, Boston, reported a 16.19% return in 2013, representing an investment gain of more than $200 million, according to the $1.6 billion pension fund's February newsletter.
United Methodist Church board commits to Hancock timber fund
trueGeneral Board of Pension and Health Benefits of the United Methodist Church, Glenview, Ill., committed $50 million to the Hancock Timberland XII Fund, Dave Zellner, chief investment officer, said in an e-mail.
Wespath commits to timber fund, OKs allocation to real assets and other alternatives
trueWespath Investment Management division of the General Board of Pension and Health Benefits of the United Methodist Church, Glenview, Ill., committed $50 million to Hancock Timberland XII.
Fairfield University hires new VP for finance, CFO
trueMichael Trafecante was named vice president for finance and treasurer and chief financial officer at Fairfield University.
Brock University hunting for investment consultant
trueBrock University, St. Catharines, Ontario, issued an RFP for an investment consultant for its pension fund and endowment assets.
U.K. pension funding deficit plummets in December
trueThe aggregate deficit of defined benefit occupational pension funds in the U.K. in the Pension Protection Fund's 7800 index, more than halved in December, to £27.6 billion ($45.3 billion).
PBGC changes payment schedule on premiums to once a year
trueThe PBGC announced Friday it would no longer require large single-employer and multiemployer defined benefit pension plans to pay their premiums twice a year.
Federal court rejects church plan status for Dignity Health
trueIn the first decision among five major class-action lawsuits challenging church-affiliated sponsors of defined benefit plans, a federal judge found that ERISA rules do apply.