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CalPERS approves plan to gradually reduce assumed rate of return to 6.5%
trueCalPERS' board on Wednesday approved a risk-reduction plan that will shift investments away from equities and could reduce the expected rate of return of the nation's largest pension fund to 6.5% from 7.5%.
Pemex says union pact will reduce its $90 billion pension burden
truePetroleos Mexicanos reached an agreement with its union to create individual retirement accounts for incoming workers and to raise the retirement age, easing the company's pension liabilities.
Corporate funding ratios rise; public pension plan returns turn positive in October — reports
trueThe funded status of U.S. corporate pension plans rose between one and three percentage points in October on the back of rising asset values, said reports from BNY Mellon and Milliman.
U.K. pension funding deficit shrinks nearly 16% in October
trueRising equity markets and assets coupled with falling liabilities led to a 15.8% decrease in the total deficit of defined benefit funds covered by the Pension Protection Fund's 7800 index for the month of October, to £262.5 billion ($404.9 billion).
Aon Hewitt: Corporate funding ratios reverse downward trend, up to 81% in October
trueThe aggregate funded status for defined benefit plans sponsored by S&P 500 companies rose 2.2 percentage points to 80.9% in October as rising asset values outpaced liabilities, Aon Hewitt said.
Milliman: Multiemployer pension funding ratio flat in first 6 months of year
trueThe aggregate funded status of U.S. multiemployer pension plans was 79% as of June 30, relatively unchanged from the end of 2014 when it was 80%, but still below its pre-recession levels, said a report from Milliman.
Philips U.K. pension fund enters into buyout as last step in winding down entire plan
truePhilips Pension Fund agreed to purchase a group annuity contract from Pension Insurance Corp. to transfer about €2.6 billion ($2.9 billion) of pension obligations.
FTSE 350 pension deficit falls 3.1% in October
trueThe aggregate deficit of FTSE 350 companies in the U.K. fell 3.1% to £63 billion ($97.2 billion) in October, driven by an increase in asset values.
Funded status of corporate plans rises in October — 2 reports
trueThe funded status for U.S. corporate pension plans rose between three and four percentage points in October, reports from Mercer and Wilshire Consulting show.
Northern Trust universe down 4.6% in quarter; public plans hit the hardest
trueInstitutional asset owners in the Northern Trust Universe returned a median -4.6% in the third quarter of 2015, down from 0.2% in the previous quarter.
Illinois Teachers' funded status remains one of the worst in the country
trueIllinois Teachers’ Retirement System’s funded status improved slightly to 42% in the fiscal year ended June 30, up from 40.6%, said a Buck Consultants presentation to the board of the $46 billion pension fund Thursday.
Senate approves budget deal raising PBGC premiums
trueThe Senate approved a budget deal Friday that raises PBGC premiums and makes it easier for the IRS to audit hedge funds and private equity partnerships.
Moody's downgrades Illinois bond rating
trueMoody's Investors Service downgraded Illinois' general obligation bond rating to Baa1 on Thursday over concerns the state's budget impasse could further weaken its financial position.
Pay up now or pay more later
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.
Pension funding ratios still well below pre-recession levels — Fitch
trueThe median funded status for U.S. public pension funds was 71.5% at the end of fiscal year 2014, relatively unchanged from 2013, and only slightly above its 2012 post-recession low of 68.9%, said a new report from Fitch Ratings.