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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 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...
...State Street Global Advisors developed a new product for the $32bn University of California retirement system aimed at this issue....
...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...
...Calstrs, formally the California State Teachers’ Retirement System, has for six years in a row put more money into private equity than it has received back, according to filings....
...The present value of pension entitlements under current social insurance systems are in the same ballpark. Challenges facing aging societies are manifold....
...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....
...Five unmissable stories this week JPMorgan Asset Management and State Street Global Advisors are quitting Climate Action 100+, an investor group set up to prod companies over global warming, and BlackRock...
...Crucially, under their plan, Chileans will still be able to choose private funds to invest their pensions in, though a state-run investing alternative will also be created....
...Quantum computer systems on the other hand can rewind an AI process to its original state. The process can be reversible....
...Ailman, who has served as CIO at the $318bn California State Retirement System since 2000, shared his retirement plans at a fund board meeting on Thursday morning....
...Ailman’s comments come as he prepares to “pass the baton” to a successor from June after announcing his retirement last month....
...These include creating a state-owned asset manager, or divesting part of the workers’ contributions to a common “solidarity” fund....
...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...
...State Teachers Retirement System....
...The household sector in the developed world saved for precautionary reasons and for retirement....
...Second, the social security system is configured in a manner bound to drive up government liabilities....
...A few weeks ago, a friend was about to have life-saving brain surgery in Boston when her operation was suddenly cancelled. The reason?...
...The state pension is not a contributory system....
...Couples who live in US states that allow workers to claim unemployment insurance when they move for a spouse’s job are 40 per cent more likely to move....
...The Labour party will conduct a sweeping review of the UK’s pension system to find ways of unlocking billions of pounds worth of retirement fund capital for the country’s growth if it wins the next general...
...“We . . . recognise the government has chosen a wide-ranging power in this area to ‘futureproof’ its ability to detect fraud and error in the system,” he said in the letter....
...Meanwhile, offsetting changes to the benefit system have cushioned the impact of stagnating incomes and the surging cost of living for lower-income households....
...Despite the triple-lock mechanism to protect against inflation, the state pension doesn’t afford its recipients dignity in retirement....
...Cliff White headed the Justice Department’s bankruptcy “watchdog” unit, the US Trustee Program, for 17 years prior to his retirement in 2022....
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