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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....
...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...
...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....
...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 $38tn US retirement system is one of the world’s largest, and US employers were among the first to shift from defined benefit pensions to defined contribution plans....
...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 former top executive at the New Zealand sovereign wealth fund to direct the largest US public pension plan’s investments following the abrupt...
...The present value of pension entitlements under current social insurance systems are in the same ballpark. Challenges facing aging societies are manifold....
...The Texas Retirement System incorporated leverage within its individual asset allocations in 2019 to improve the “risk return profile” of the fund....
...She said that “focusing the pension system on value rather than cost alone will be hugely beneficial for savers.”...
...PensionBee, a pension consolidator, was one of the few pension providers to express public support for a system shake-up....
...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...
...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 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...
...Under a horribly complex system, when the allowance fell, people could take out lifetime allowance protections that safeguarded their pension savings from penalty taxes....
...Representatives voted 84 to 64, with three abstentions, to advance a bill that would redesign the pension system....
...Trustees have also warned that industry moves to make the financial system more resilient could yet lead to unintended consequences....
...system, a pioneering, privately managed defined-contribution scheme that started in 1980, was initially regarded as the gold standard among retirement schemes....
...Calpers From the Financial Times’ intrepid pensions guru, Josephine Cumbo, yesterday: Calpers, the US’s biggest public pension plan, is to increase its holdings in private markets . . ....
...“It is simply unacceptable that the government has failed to adapt the tax system to cope with the fact that Brits are able to access their pensions flexibly from age 55, instead persisting with an arcane...
...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....
...For the first time, the UK private DB system is in buy-out surplus. What does this mean?...
...“Those with big defined benefit pensions or property income might be willing to play a bit faster and looser with their investment portfolio,” said AJ Bell’s Laith Khalaf....
...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....
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