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trueThe California State Teachers' Retirement System might feel more secure in considering recent proposals to reduce its investment risk because it has started to collect a higher rate of contributions.
Illinois to delay pension contributions with ongoing budget stalemate
trueThe continuing budget impasse in Illinois means the state will delay its November pension contribution, state Comptroller Leslie Geissler Munger announced on Wednesday.
New Jersey pension fund trustees lose another challenge to reduced state contributions
trueAn attorney for trustees of the $79 billion New Jersey Pension Fund, Trenton, said his clients haven’t decided to appeal a Superior Court judge’s ruling dismissing their suit to reinstate state pension contributions that had been — and will be — withheld by Gov. Chris Christie.
Right-to-work states enjoy higher funding levels
trueA state government's right-to-work status impacts the fiscal stability of its pension obligations, according to Loop Capital Markets' latest annual public pension funding review.
IRS finalizes pension contribution credit balance rules
trueDefined benefit plan sponsors may make standing elections instead of quarterly calculations and filings to apply credit balances toward quarterly contribution installments, under final rules published Wednesday by the IRS.
New York State Common lowers assumed rate of return, decreases employer contributions
trueNew York State Common Retirement Fund, Albany, is lowering its assumed rate of return to 7% from 7.5%, said Nikki Jones, spokeswoman for Thomas DiNapoli, state comptroller and sole trustee of the $182.5 billion pension fund.
Parker Hannifin to contribute $278 million to global pension funds
trueParker Hannifin Corp. plans to contribute $278 million to its global defined benefit plans during its fiscal year 2016 that started July 1, the company announced in its 10-K filing Wednesday.
Kentucky teachers allege federal constitutional violation in lawsuit against pension fund
trueCurrent and retired Kentucky school teachers filed a lawsuit against the Kentucky Teachers’ Retirement System, charging the Frankfort-based system with failing to adequately address its “dire” funded status, including illegally raising teachers’ contributions to KTRS.
U.K. corporate pension fund contributions down 15.5% in 2014
trueThe U.K.'s largest companies reduced their pension fund contributions in 2014, shows a new report from consultant Lane Clark & Peacock.
Moody's: Pension liabilities increasing for majority of largest local governments
truePension burdens increased for 31 of the 50 largest local governments in fiscal year 2013, said a new report from Moody's Investors Service.
Large U.K. companies on the hook for additional investment risk
trueFTSE 350 companies are on the hook to underwrite an additional £100 billion ($155.2 billion) of investment risk within their pension funds, said a new report by Lincoln Pensions.
Mine Workers plan sues Peabody, Arch Coal for withdrawal liability
trueThe United Mine Workers of America 1974 Pension Plan filed a lawsuit Thursday to force Peabody Energy Corp. and Arch Coal Inc. to negotiate withdrawal liability for the underfunded pension plan before a bankruptcy sale sought by Patriot Coal Corp. is approved.
FedEx charts $660 million in pension fund contributions
trueFedEx Corp., Memphis, expects to contribute $660 million to its U.S. pension funds during its 2016 fiscal year that started June 1. The company contributed the exact same amount in each of its two previous fiscal years.
Illinois governor unveils new pension reform bill
trueIllinois Gov. Bruce Rauner announced Wednesday a bill aimed at reducing pension costs at the state, county and city levels.
PBGC files liens against Times Publishing
trueThe PBGC filed liens against the Times Publishing Co., for $30.5 million in missed pension fund contributions and related interest and penalties.