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...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....
...In 1990, after his plans to sell Luna Luna to the city of Vienna or tour it through Europe fell through, Heller sold it to the Stephen and Mary Birch Foundation....
...Only a slim sliver of UK defined benefit pension money is still invested in UK stocks. Defined contributions and other alternative retirement savings should now start mounting up....
...Franklin said the deal would nearly double assets managed in its defined contribution business to $90bn....
...Before you go, tell us what you think of FirstFT by emailing firstft@ft.com or hitting reply — Gordon Additional contributions from Tee Zhuo and Benjamin Wilhelm...
...based on salary and length of service — to a defined contribution (DC) model, where members pay into individual accounts....
..., and how the growth of defined-contribution plans might be accelerated and harnessed to support the UK....
...The transaction materially increases BEN’s defined contribution AUM by +$90B as well as expands BEN’s insurance AUM to approx. $150B....
...Even one of the overarching review studies that NBIM itself cites — Risk And Return in Private Equity by the University of Southern California’s Arthur Korteweg — indicates that “when additional risk factors...
...MP Materials, an American refiner, is reviving a rare earths mine in the high desert of southern California, writes Nikkei Asia’s Yifan Yu in this week’s visually rich Big Story....
...Walt Disney has scrapped plans to relocate thousands of California-based employees to a new campus in central Florida, according to an internal memo....
...But the weather was hot and dry, and already the fire was not conforming to humans’ plans....
...For the same year, Hunan, a relatively poor province in southern China, reported average annual wage growth of 8 per cent....
...On Monday, after Poland put up a fight to protect its use of coal, environment ministers agreed to put off updating the EU’s so-called nationally defined contribution — the measure by which countries can...
...A peer-reviewed version of the paper was published in December 2017, just in time for NeurIPS, one of the most prestigious machine learning conferences held in southern California that year....
...She added: “Germany is prepared to make a decisive contribution to fair burden-sharing.”...
...The latter scenario was explored at length by Stuart Russell, a professor of computer science at the University of California, Berkeley....
...“I hope that, notwithstanding the usual tones of a campaign, everyone will give their constructive contribution.”...
...In others, such as the house price crashes seen in Southern Europe during the debt crisis, rising mortgage rates were a key driver of the downturn....
...But most of their contributions haven’t been acknowledged or documented. From the slave trade on....
...Under the plan, currently working judges and teachers have their defined benefit pension rights frozen in place, and are now shifted to defined contribution plans....
...Or it may be making an important contribution to healthcare.”...
...Read to the very end — his point about how defined contribution is driving bizarrely high equity prices is SO important. The FT’s loss of him is very much Bloomberg’s gain....
...Kevin Swanson, chief executive of wealth manager Potentia, based in California, says many are not prepared....
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