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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 target allocations for public equity and fixed income will decrease under the new policy....
...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 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....
...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....
...Some private equity managers have taken steps to ensure that employees at companies they own can share in the profits, if the firm performs well....
...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....
...Ailman’s comments come as he prepares to “pass the baton” to a successor from June after announcing his retirement last month....
...State Street Global Advisors developed a new product for the $32bn University of California retirement system aimed at this issue....
...Institutional investors that sided with the activist proposals include Norway’s sovereign wealth fund, the Canada Pension Plan Investment Board, California Public Employees’ Retirement System and the California...
...“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”....
...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...
...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....
...Britain’s £1.4tn DB retirement system serves about 10mn retired and current private-sector employees....
...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, 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....
...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....
...Pension fund investors in Blackstone from New York, North Carolina and Denmark were publicly critical, as was the California Public Employees’ Retirement System (Calpers)....
...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....
...So today we are publishing proposals for a solution to this problem which would be simple and popular with the public....
...The California-based fund estimates the security incident affected the personal information of about 769,000 members....
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