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...But thousands of former Debenhams employees subsequently suffered cuts to their expected retirement benefits under the Pension Protection Fund’s reduced compensation terms....
...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...
...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...
...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...
...Britain’s £1.4tn DB retirement system serves about 10mn retired and current private-sector employees....
...State Street Global Advisors developed a new product for the $32bn University of California retirement system aimed at this issue....
...A proposal to increase the $483bn fund’s positions in assets such as private equity and private credit from 33 per cent of the plan to 40 per cent was approved on Monday . . ....
...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...
...Sweden-based Embracer has laid off hundreds of employees and divested key assets over the past year including Gearbox Entertainment, which makes the Borderlands and Duke Nukem games, and Saber Interactive...
...The firm’s “apparent conflicts of interest permeated FTX’s bankruptcy filing and every aspect of the case”, wrote Jonathan Lipson of Temple University and David Skeel of the University of Pennsylvania....
...Speaking last week, before the Treasury outlined plans for a major reform of the sector, Carol Young, chief executive of the £73bn Universities Superannuation Scheme, said she had no problem with new disclosure...
...On the plus side for employees, each participant gets a personal account and can opt for a lump sum at retirement instead of a regular payment....
...In contrast, contribution rates for the Universities Superannuation Scheme, the main retirement for the sector, are set to fall significantly for both employers and employees due to improvements in the plan...
...Ennis said Jason Malinowski, CIO of Seattle City Employees’ Retirement System, was a strong candidate to succeed Ailman....
...“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....
...Heathrow’s other owners are Canadian pension fund CDPQ, Singapore sovereign wealth fund GIC, the UK’s Universities Superannuation Scheme, Qatar Investment Authority, the Australian Retirement Trust and China...
...Now the BoE plans to stress test insurers on their exposure to reinsurers through a flurry of corporate pension deals, as concerns mount about the risk posed by offshore arrangements to UK retirement savers...
...The carrier, which posted a first-quarter net loss of $231mn, announced a series of cost-saving measures, dropping service to four US airports and cutting headcount by 2,000 employees by the end of the year...
...The UK business of professional services firm KPMG revealed this in a groundbreaking analysis of the career paths of 16,500 of its partners and employees it published just over a year ago....
...The business was purchased in 2018 by Blackstone Core Equity Partners, a long-hold buyout fund whose investors included Canada Pension Plan, NY State Common Retirement Fund, North Carolina Retirement Systems...
...His retirement plans are now in disarray due to the uncertainty over his financial position....
...Almost all other government employees don’t. As such, the Treasury’s largest cohort of creditors include nurses, teachers, civil servants and soldiers....
...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”....
...the possibility of athletes becoming employees....
...New York-based buyout group KKR says that billions of dollars in equity have been shared between more than 60,000 employees at its portfolio companies since 2011....
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