Editorials

  1. Damage of low rates

    trueThe best thing that could be done for pension funds in 2015 is something they can't do themselves: increase interest rates.

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  1. Congress did the right thing to protect multiemployer plans

    trueCongress made the right decision to allow severely financially distressed multiemployer pension plans to cut retiree benefits.

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  2. Time to shore up the PBGC

    trueWith the Pension Benefit Guaranty Corp. deficit growing to record levels and projections of continued deteriorating financial conditions, the question is: Can the PBGC be saved without increasing its premiums further, reducing the benefits it insures, resorting to a taxpayer bailout or some ...

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  3. The risks of multiline firms

    trueThe Department of Labor made the right decision in granting Credit Suisse AG and its related entities a temporary exemption to continue to provide asset management services, at least for the short term, after its banking unit pleaded guilty to assisting U.S. citizens avoid taxes.

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  4. Risks of clouding priorities

    trueAsset owners, institutional investment management firms and the markets are not immune from crises of confidence.

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  5. Suppression of dissent shouldn't be a core value

    trueCalPERS' reprimand of a board member for publicly criticizing the hiring of Theodore “Ted” Eliopoulos as its chief investment officer is unacceptable.

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  6. A better place for pensions

    trueThe decisions of Motorola Solutions Inc. and Bristol-Myers Squibb Co., the most recent big companies settling pension obligations by purchasing group annuity contracts, reinforce a trend by corporate sponsors to get such liabilities — especially those of employees now retired or inactive — off ...

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  7. Risk of star dependence

    trueThe departure of William H. Gross from Pacific Investment Management Co. LLC leaves money management companies and institutional fiduciary clients alike wondering whether they should encourage the star system or a team approach to managing money.

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  8. Too complex for CalPERS

    trueCalPERS' decision on Sept. 15 to close its $4 billion hedge fund program will lead to a lot of re-examination of the investment strategy by other asset owners.

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  9. A vital SEC crucial to markets

    trueThe Securities and Exchange Commission, according to testimony by its chairwoman, Mary Jo White, is desperately short of resources and cannot adequately fulfill its responsibility to oversee the capital markets.

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  10. Lessons learned from ERISA

    trueERISA was a farsighted law in many aspects, especially in defining and assigning fiduciary responsibility, including prohibition on conflicts of interests, to those overseeing pension funds. But ERISA in the long term failed to expand defined benefit coverage.

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  11. Challenges of cybersecurity

    trueTrustees and other fiduciaries overseeing large asset pools face increasing challenges from cybersecurity risk, and must strengthen their risk management and preparedness to deal with these potential threats.

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  12. Shareholders deserve directors' attention to duties

    trueInstitutional shareholders should demand Coca-Cola Co. ask Richard M. Daley to step down as director or explain why, in the face of a personal challenge, he should stay as a member of the company's board.

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  13. Adding reality to valuations

    trueThe Securities and Exchange Commission made the right decision in exempting defined contribution plans — but not defined benefit plans, foundations, endowments and other asset owners — from its new rule requiring the share values of institutional prime money market funds to fluctuate based on ...

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