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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....
...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 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 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...
...Fink’s letter raised issues more than it suggested concrete solutions, but he wrote that Japan had found ways to encourage people to stay in work longer and that Australia’s national retirement savings system...
...Fears about the US retirement system have been swirling for years, as the working-age share of the US population falls and more retirees live into their 80s....
...A good way to prepare for the speech, the dot plot and the rest is to read Chris Giles’s admirably clear newsletter about the stalling of US services disinflation....
...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 Texas Retirement System incorporated leverage within its individual asset allocations in 2019 to improve the “risk return profile” of the fund....
...Britain’s £1.4tn DB retirement system serves about 10mn retired and current private-sector employees....
...She said that “focusing the pension system on value rather than cost alone will be hugely beneficial for savers.”...
...Under this system, money built up in a previous pension would be automatically transferred to the pension arrangement at the new workplace unless the worker opted out....
...the most likely to end up worse off in retirement”....
...The ECB puts housing wealth at around 350 per cent of GDP. The present value of pension entitlements under current social insurance systems are in the same ballpark....
...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...
...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....
...Representatives voted 84 to 64, with three abstentions, to advance a bill that would redesign the pension system....
...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....
...These funds did not appear at all in the previous tax year, when Legal and General Group, Aviva, Rio Tinto, Jupiter Asian Income — which focuses on high-yield Asian companies — and BAE Systems made up the...
...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....
...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....
...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 household sector in the developed world saved for precautionary reasons and for retirement....
...system, a pioneering, privately managed defined-contribution scheme that started in 1980, was initially regarded as the gold standard among retirement schemes....
...But Chris Ailman, the departing chief investment officer of the $327bn California State Teachers Retirement System, believes higher rates are attractive for investors in private credit, because of the higher...
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