Editorials

  1. Beefing up fiduciary oversight

    trueInstitutional asset owners must make more of an effort to peel back the layers of complexity to deal with the fiduciary issues surrounding non-traded investments, including private equity and real estate.

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  1. Test of governance wills

    trueThere are good neighbors. Then there is Nabors Industries Inc.

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  2. States reaching out too far

    trueThe number of private-sector employees without pension coverage — about half — has become an issue of concern at the state and federal levels.

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  3. The advancement of a bad idea

    trueEleven member countries of the European Commission are planning to introduce a financial transactions tax in 2016. If it takes effect as planned, the tax could cost pension funds, not only in Europe but also in North America, billions of dollars every year.

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  4. Winning over proxy voters

    trueThe Coca-Cola Co. equity compensation plan for executives won the approval of 83% of the shares voted at its recent annual meeting, but left the company with an ambiguous mandate. Some major institutional investors that supported the plan might have reconsidered had they known other pension funds ...

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  5. Tax-exempt but tax conscious

    trueEven though pension funds and other tax-exempt institutional asset pools don't pay taxes on their investment income, the taxes paid by the companies in their investment portfolios should concern institutional investors.

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  6. Tightening up trading costs

    trueInstitutional investors must keep careful watch on trading costs, and take steps to minimize them, as recent research shows they rival investment management fees in their impact on portfolios.

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  7. Better oversight of HFT

    trueMichael Lewis shocked the investing public with his charge that the stock market is rigged. He will have done investors a great service if he has also shocked the Securities and Exchange Commission into re-examining high-frequency trading and taking steps to halt it.

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  8. Let's play ball

    trueTo paraphrase a line from “Field of Dreams,” if you build it, they will come - “it” being a multiple employer pension plan, and “they” being employers.

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  9. Misguided search for revenue

    trueThe federal government's appetite for more revenue to feed an expanding federal budget threatens to jeopardize retirement income security.

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  10. A pathway to stronger plans

    trueAn independent panel of the Society of Actuaries has laid out a path to strengthen public defined benefit plans, championing the valuation of pension liabilities in a more economically realistic way.

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  11. The pension fund cookie jar

    trueCorporate defined benefit plans, still struggling to raise funding levels, are being used, in the words of one actuarial consultant, as a cookie jar by Congress to finance unrelated federal spending.

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  12. Better way to elect directors

    trueIf proxy voting is the principal way shareholders influence corporate governance and the direction of corporations, the rules of the Securities and Exchange Commission fall short in enabling shareholders in contested elections to select the combination of nominees they believe will best foster ...

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  13. Cartoon: Pension debt

    trueTroubles with the city pension funds in Chicago, Los Angeles and New York offer an ominous tale.

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