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...“As the largest public pension fund in the country, we have a responsibility to lead on issues that threaten to undermine shareowners.”...
...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...
...This results in lower returns relative to public equity....
...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...
...The giant California public pension plan has now said it will not release its 2023 carbon emission data until 2025....
...“Widespread defaults have not yet occurred,” said the $105bn Ohio Public Employees Retirement System in a board meeting agenda last month, “however, indications point towards trouble ahead”....
...In the sleepy Midwestern town of Pataskala, Ohio, a 1mn sq ft factory built on former farmland is marked with a sign: Illuminate USA....
...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 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...
...Between 2020 and mid-2022, DWP and MaPS “made progress” in delivering important elements of the pensions dashboards system, said the report....
...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....
...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 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...
...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....
...Meanwhile, offsetting changes to the benefit system have cushioned the impact of stagnating incomes and the surging cost of living for lower-income households....
...She said that “focusing the pension system on value rather than cost alone will be hugely beneficial for savers.”...
...Ailman’s comments come as he prepares to “pass the baton” to a successor from June after announcing his retirement last month....
...Ennis said Jason Malinowski, CIO of Seattle City Employees’ Retirement System, was a strong candidate to succeed Ailman....
...But it still drew criticism for an indirect stake in a massive Ohio coal plant through its investment in a Blackstone private equity fund....
...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....
...PensionBee, a pension consolidator, was one of the few pension providers to express public support for a system shake-up....
...That fairy tale ending disappeared for many Americans in the 1980s, when most new employees started to be shunted into a new retirement option....
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