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...The writedown is also more than double the cut taken in percentage terms on Thames Water in 2022 by the utility’s biggest investor, the Ontario Municipal Employees Retirement System, one of Canada’s biggest...
...Shortly after, some staff across the businesses stopped receiving wages, something the company initially blamed on a faulty payroll system....
...One day after April Fools’, the $495bn California Public Employees’ Retirement System has announced that another sucker has decided to subject themselves to what might be the worst job in the entire global...
Past performance does not guarantee . . .
...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...
...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...
...Nor did it file in Delaware, where most of its entities are incorporated....
...The loss followed an ill-fated foray by Julius Baer into private lending, a business that chair Romeo Lacher said had grown much quicker than its risk systems could cope with....
...Starting about 40 years ago, they essentially transferred responsibility for funding retirement from employers to employees....
...Britain’s £1.4tn DB retirement system serves about 10mn retired and current private-sector employees....
...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....
...Some private equity managers have taken steps to ensure that employees at companies they own can share in the profits, if the firm performs well....
...Pension fund investors in Blackstone from New York, North Carolina and Denmark were publicly critical, as was the California Public Employees’ Retirement System (Calpers)....
...Ennis said Jason Malinowski, CIO of Seattle City Employees’ Retirement System, was a strong candidate to succeed Ailman....
...Ailman’s comments come as he prepares to “pass the baton” to a successor from June after announcing his retirement last month....
...Steven Meier, chief investment officer of the $264bn New York City Employees Retirement Systems, said his fund was expanding into private credit when “everyone else has pulled back”....
...Some research suggests that superstar employees can have a positive impact, improving co-workers’ productivity....
...Meanwhile, offsetting changes to the benefit system have cushioned the impact of stagnating incomes and the surging cost of living for lower-income households....
...If imperative, they should be addressed in the design of the tax system....
...State Teachers Retirement System....
...It added that the transition board would help support affected employees and the local economy, and would be chaired by Welsh secretary David Davies....
...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....
...“British workers deserve to get the most out of their pensions, so we will make it easier for employees to keep track of their hard-earned savings,” said a Treasury insider....
...Instead, the employer chooses a retirement plan on behalf of the workforce....
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