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...One example is the $137bn New York State Teachers’ Retirement System, which sold 34 private equity holdings with $3.5bn in total commitments on the secondary market at the end of last year....
...SACRAMENTO, Calif. — The California Public Employees’ Retirement System has selected Stephen Gilmore, a senior investment leader with extensive experience in public and private financial institutions and...
...The California Public Employees’ Retirement System has named a former top executive at the New Zealand sovereign wealth fund to direct the largest US public pension plan’s investments following the abrupt...
...State Street Global Advisors developed a new product for the $32bn University of California retirement system aimed at this issue....
...This results in lower returns relative to public equity....
...At the time, this was greater than the official estimate of the entire private sector pension system’s asset base. It was greater even than the stock of outstanding public debt....
...The plan is designed to alleviate pressure on a pension system that is expected to come under huge strain in the next few years as a whole generation of “baby-boomers” born in the 50s and 60s enters retirement...
...The portfolio shake-up, which was confirmed after a scheduled asset allocation review, will bring the California-based plan into line with other big retirement systems in the US, including Calstrs, which...
...The growing reliance on illiquid assets has also introduced new challenges in terms of cash flow for defined benefit style funds, such as Calstrs and others public retirement systems, which must pay regular...
...Greg Samorajski, chief executive of the $40bn Iowa Public Employee Retirement System, said Ipers decided in 2020 to raise its allocation to private credit from 3 per cent to 8 per cent of assets, while reducing...
...She said that “focusing the pension system on value rather than cost alone will be hugely beneficial for savers.”...
...The household sector in the developed world saved for precautionary reasons and for retirement....
...PensionBee, a pension consolidator, was one of the few pension providers to express public support for a system shake-up....
...This event has been organised in partnership with the FT’s Financial Literacy and Inclusion Campaign charity and the FT Women employee network....
...The California Public Employees’ Retirement System has named a new chief investment officer to replace the former CIO, who in 2023 left the job after less than two years....
...Employers are obliged to contribute at least 3 per cent of pensionable salary to the employee’s retirement pot with the worker paying at least 5 per cent....
...The present value of pension entitlements under current social insurance systems are in the same ballpark. Challenges facing aging societies are manifold....
...The 37 partners have agreed to accelerate their retirement as part of the latest overhaul. PwC’s staff were told of the cuts during a call on Wednesday morning....
...The chancellor said he would modernise the rules by replacing the “non-dom” system, replacing the concept of domicile in tax with a residence-based system....
...Ailman, who has served as CIO of the California State Teachers’ Retirement System since 2000, announced his retirement at a board investment committee meeting on Thursday....
...The government is also seeking to raise the minimum guaranteed pension paid out to poorer people, and replace the deeply unpopular private pension administrators with a public administrator....
...But Cook, a former employee at the UK Ministry of Defence, was found guilty on Wednesday of one count of misconduct in public office between September 2004 and November 2008....
...Donald Mackenzie, one of CVC Capital Partners’ co-founders and most successful dealmakers, is stepping back from Europe’s largest buyout firm ahead of its long-awaited public listing....
...quality of audits of some retirement plans....
...Currently, employers are not obliged to pay employee pension contributions into a scheme chosen by the worker....
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