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Maryland governor wants to spend more on pension underfunding
trueMaryland Gov. Larry Hogan said Thursday he will make an additional contribution toward the state's unfunded pension liability.
S&P, Fitch downgrade Chicago debt — but not to junk
trueChicago's battered credit rating has taken another hit as Standard & Poor's said in a statement it lowered the status of the city's general obligation bonds two notches, to A- from A+.
UPDATED: Chicago's pension funds by the numbers
trueOn Tuesday, Moody's Investors Service downgraded the city of Chicago's credit rating to junk. In light of the Illinois Supreme Court's May 8 ruling that deemed the state's 2013 pension reform law unconstitutional, the ratings agency said it believes “the city's options for curbing growth in its own ...
U.K. pension funding deficit falls 17% in April
trueThe aggregate deficit of occupational pension funds covered by the U.K. Pension Protection Fund’s 7800 index decreased 17.2% to £242.3 billion ($367 billion) in April as gilt yields rose.
San Bernardino judge rejects bondholders' lawsuit over pension debt
truePension bondholders can't force the bankrupt California city of San Bernardino to pay them as much as the state's powerful retirement system, a judge ruled Monday.
Illinois' pension funds by the numbers
trueIn the past 10 years, Illinois' accrued unfunded liabilities have grown to more than $111 billion in 2014 from $38 billion.
Milliman: Corporate funding ratios climb in April on discount rate rise
trueThe funded status of the 100 largest U.S. corporate defined benefit plans improved to 82.6% at the end of April, up 170 basis points from March, the Milliman 100 Pension Funding index showed Thursday.
Corporate pension funding ratio improves in April as liabilities fall
trueThe funded status of U.S. corporate defined benefit plans improved in April on account of falling liabilities, said reports from Wilshire Consulting and Mercer.
LV= Pension Fund taps BlackRock for liability hedging
trueLV= Pension Fund hired BlackRock to manage a liability-hedging strategy for the £1.2 billion pension fund ($1.8 billion).
Mercer: FTSE 350 pension deficit improves slightly in April
trueThe aggregate deficit of the pension funds for U.K. FTSE 350 companies increased marginally in April, by 0.8% to £128 billion ($193.8 billion).
BNY Mellon: Corporate pension funding tops 90% for first time in 8 months
trueThe funded status of the typical U.S. corporate defined benefit plan rose 2.9 percentage points to 90.1% in April as liabilities fell and assets increased, said the BNY Mellon Institutional Scorecard.
Growing pension deficits cause fallout for U.K. corporations
trueThe defined benefit plan's role in a corporation is once again becoming increasingly important for U.K. companies, industry experts say.
U.K. corporate pension fund deficit ticks down in April
trueThe total deficit of all U.K. corporate pension funds decreased 3% in April to £261 billion ($390 billion), said the latest analysis by JLT Employee Benefits.
ITN Pension Scheme deficit increases 22.5% in 2014
trueThe deficit for the ITN Pension Scheme, London, increased 22.5% to £98.5 million ($147.2 million) for the year ended Dec. 31, said sponsoring company Independent Television News Ltd.’s latest annual report.
Estimating future costs at public pension plans: Setting the discount rate
trueLooking more closely at the views of financial economists, it becomes clear that using an estimated rate of return to discount future pension liabilities is not misleading.