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So far CORPaTH has created 225 blog entries.
30 11, 2022

Trump Loses His Clutch on Your 401(k) in Department of Labor Ruling

2022-11-30T16:24:08-08:00November 30th, 2022|Categories: 401(k), ESG|Tags: , |

By Eric Reed Source: Yahoo! Finance The new rule is written broadly, which means that it may let employers explore several different categories of investing. But it specifically aims to create more opportunities for ESG, or "Environmental, Social and Governance," investing. Otherwise known as impact investing, these are portfolios that invest around specific social and political goals. For example, a portfolio may explicitly choose not to invest in fossil fuels and dirty industries, or it may proactively invest in [...]

17 11, 2022

CalPERS CEO pushes back against politicization of ESG investing

2022-11-17T14:33:59-08:00November 17th, 2022|Categories: ESG|Tags: , , , |

By Arleen Jacobius Source: Pensions & Investments CalPERS CEO Marcie Frost decried the politicization of environmental, governance and social investing at Wednesday's board meeting and highlighted the benefits of the $443.2 billion pension plan's ESG approach. "In some cases, the (midterm election) campaign rhetoric not only dismissed the danger of climate change, it went so far as to mischaracterize a strategy we believe in strongly: examining the risk factors of the environment, of social inequality, and of good governance," [...]

17 11, 2022

Largest U.S. Pension Buys Up Apple, Intel, and 2 More Big Stocks

2022-11-17T14:31:26-08:00November 17th, 2022|Categories: Economy|Tags: , |

By Ed Lin Source: Barrons The coming recession may be the most widely predicted recession in U.S. history. In the past, forecasters often did not realize we were in a recession until several months after it started. But professional forecasters surveyed in October projected an increase in the unemployment rate of 0.6 percentage point in 2023, to 4.3% from 3.7% this year. That suggests a recession is likely according to a rule promoted by economist Claudia Sahm, who found [...]

14 11, 2022

CORPaTH urges Attorneys General to halt Albertsons $4B shareholder dividend

2022-11-14T16:34:58-08:00November 14th, 2022|Categories: Uncategorized|

Following reports earlier this month that Albertsons shareholders were scheduled to receive a $4 billion dividend, CORPaTH Executive Director Ron Auer sent the following letter urging state attorneys general around the country to halt the payment pending confirmation the company will fulfill its pension obligations. Read the letter below

7 11, 2022

Employers favouring wage hikes over benefits enhancements amid high inflation

2022-11-07T11:24:18-08:00November 7th, 2022|Categories: Economy|Tags: , , |

Source: Benefits Canada While Canadian employers recognize the value of retirement benefits, the current high inflation environment is driving them to favour wage hikes instead, according to a new survey by the Healthcare of Ontario Pension Plan and Angus Reid Group. The survey, which polled nearly 800 business owners and senior leaders, found employers’ leading concerns are greater competition for hiring (82 per cent), employee burnout (79 per cent), labour shortages (79 per cent) and high turnover (77 per [...]

7 11, 2022

Germany’s pension system will collapse without reform, influential lobby group says

2022-11-07T11:21:58-08:00November 7th, 2022|Categories: Defined Benefit Plans|Tags: , |

By Hannah Ward-Glenton Source: CNBC Germany’s pension system won’t be financially viable in five years’ time without reform, according to Rainer Dulger, the president of the Confederation of German Employers’ Associations. The influential lobby group represents around 20 million employees in the German workforce. Dulger told Germany’s Bild am Sonntag newspaper Sunday that the German economy is weakening and the social system is on “the verge of collapse.” “The costs will explode,” he said, according to a translation by CNBC. [...]

7 11, 2022

UK to reveal stealth tax raid on pensions later this month

2022-11-07T11:20:07-08:00November 7th, 2022|Categories: Defined Benefit Plans|Tags: , |

Source: Reuters British Prime Minister Rishi Sunak and finance minister Jeremy Hunt plan to reveal a stealth tax raid on pensions later this month, The Telegraph reported on Friday. The pension lifetime allowance is set to be frozen for two more years, with a rise in line with prices delayed from 2025 to 2027, the newspaper said, without citing sources. The allowance level has risen with prices in the past, but Sunak, as the finance minister last year, froze [...]

7 11, 2022

The Private Equity Guys Trying to Shoplift a Supermarket Chain Before They Sell It

2022-11-07T11:17:47-08:00November 7th, 2022|Categories: Economy|Tags: , , , |

By Moe Tkacik Source: Slate Earlier this week, four state attorneys general filed two separate lawsuits seeking to stop a clique of private equity firms from swiping $4 billion from the massive supermarket chain they own. It was a frankly shocking turn of events, given that, as anyone who has ever worked for one can attest, looting companies is quite literally what private equity firms do. Crazier still is what happened Thursday night: A judge granted the Washington AG’s [...]

4 11, 2022

Global CORPaTH Pension Alliance Seeks Delay of Albertsons’ Plan to Give $4 Billion in Dividends Pending Fulfillment of Pension Obligations

2022-11-04T11:32:47-07:00November 4th, 2022|Categories: Economy|Tags: , , |

Source: Yahoo! Finance CORPaTH, a global alliance of pension administrators, trustees and advisers, joins local Unions of the United Food and Commercial Workers in demanding Albertsons delay an anticipated $4 billion dividend to shareholders until the company’s current pension obligations are assessed and fulfilled. Noting the UFCW has a significant role in applying for billions of dollars in support for its members’ pension plans from the American Rescue Plan Act’s Special Financial Assistance Program, CORPaTH Executive Director Ron Auer [...]

4 11, 2022

That big Albertsons-Kroger merger will enrich millionaire insiders at your expense

2022-11-04T11:12:15-07:00November 4th, 2022|Categories: Economy|Tags: , |

By Michael Hiltzik Source: Los Angeles Times It should be obvious by now that the driving force of many corporate mergers, if not most or even all mergers, is the goal of enriching insiders. The pending merger of supermarket giants Albertsons and Kroger, however, injects that impulse with steroids. At the heart of the $20-billion deal announced Oct. 14 is a $4-billion dividend that was scheduled to be paid Monday to Albertsons stockholders until it was temporarily blocked by [...]

4 11, 2022

UFCW Union Pension Trustees Demand Albertsons Delay $4B Dividend Pending Fulfillment of Pension Obligations

2022-11-04T11:10:09-07:00November 4th, 2022|Categories: Defined Benefit Plans|Tags: , , , |

Source: Business Wire Pension Trustees representing United Food and Commercial Workers (UFCW) Locals 5, 8, 480 and 648 in Northern California and Hawaii demand Albertsons delay an anticipated $4 billion dividend to shareholders. “The UFCW played a significant role in securing billions of dollars in anticipated pension funding through the American Rescue Plan Act as a means to bolster qualifying pension plans. This government support of retirement security must not be converted into a windfall for shareholders at the [...]

2 11, 2022

Statewide races spotlight pension investments and debate about ESG

2022-11-02T15:46:49-07:00November 2nd, 2022|Categories: ESG|Tags: , |

By Courtney Degen Source: Pensions & Investments In several statewide races in the midterm elections, the outcome could have a significant impact on state pension plans. Environmental, social and governance investing has become a key issue for many races, as Republican officials across the country have recently labeled the movement as "woke" and too political. Democrats, on the other hand, are encouraging investment policies that consider climate change, gender equality and corporate governance. Read the full article

27 10, 2022

(Just Some) of the Fruits of Our Labor

2022-10-27T16:05:47-07:00October 27th, 2022|Categories: Economy|Tags: , , |

By Tom Croft Source: Heartland Capital Strategies The Heartland Network has been advocating— thru words and deeds — for a sustainable industrial policy since our inception over a quarter century ago. Heartland has been advising and pushing the Biden Administration and Congress for nearly two years now to bridge the gap between where we are and a truly sustainable productive economy strategy. We're getting close! Heartland was born in 1995 to rebuild America by sustainably investing workers’ capital in [...]

26 10, 2022

Protecting and Expanding Retirement Options for America’s Workers

2022-10-26T15:29:21-07:00October 26th, 2022|Categories: Retirement|Tags: |

By Kathleen Kennedy Townsend Source: DOL Blog When it comes to retirement in America, there is good news and bad news. On June 2, the Trustees of the Social Security trust fund issued their annual report on the state of this key safety net. The report found that, in part due to faster growth in employment, earnings and economic growth than expected, and the passage of the American Rescue Plan, the trust fund can pay out benefits longer than [...]

20 10, 2022

Amendments to insolvency legislation would secure DB pensions, say retiree organizations

2022-10-20T15:20:46-07:00October 20th, 2022|Categories: Defined Benefit Plans|Tags: , |

Source: Benefits Canada Six organizations representing Canadian retirees say proposed amendments to the federal Bankruptcy and Insolvency Act would have a positive impact on defined benefit pension plan members. In an open letter to the House of Commons standing committee on finance, the six organizations —CanAge, the Canadian Federation of Pensioners, the Canadian Network for the Prevention of Elder Abuse, CARP,  the National Pensioners Federation and the Réseau FADOQ — said federal insolvency and pension laws currently favour the [...]

20 10, 2022

PBGC issues multiemployer withdrawal liability proposal

2022-10-20T15:16:02-07:00October 20th, 2022|Categories: PBGC|Tags: , |

By Brian Croce Source: Pensions & Investments The Pension Benefit Guaranty Corp. has proposed a rule to provide interest rate assumptions for determining a withdrawing employer's liability to a multiemployer plan. An employer that withdraws from an underfunded multiemployer plan may owe withdrawal liability to the plan under the Employee Retirement Income Security Act of 1974. The amount owed represents the withdrawn employer's share of the amount by which the present value of the plan's non-forfeitable benefits exceed the [...]

20 10, 2022

How Pension Plans Evolved Out of the Great Financial Crisis

2022-10-20T15:14:18-07:00October 20th, 2022|Categories: Defined Benefit Plans|Tags: |

Source: AI-CIO.com Public pension funds were not spared from the carnage of the Great Financial Crisis, as assets and funding statuses eroded between December 2007 and June 2009. From 2009-2013, there was a significant dip in the aggregate percentage of required contributions paid. When the economy recovered, states and other plan sponsors normalized their contribution levels. A recent webinar held by the National Institute on Retirement Security, in conjunction with consulting firm Segal and Lazard Asset Management, reviewed the [...]

10 10, 2022

How employers can help shrink Canada’s gender pension gap

2022-10-10T16:22:49-07:00October 10th, 2022|Categories: Retirement|Tags: , , |

By Sadie Janes Source: Benefits Canada Canada’s gender pension gap is growing as Canadian women received an average of 18 per cent less retirement income than men in 2020, according to a report by Ontario’s pay equity office. It found the gap is more pronounced among women in visible minority groups (37 per cent), among sources of private retirement income (28 per cent) and is three per cent higher than the 15 per cent gap observed in 1976, the earliest [...]

6 10, 2022

The truckers’ triumph: The incredible story of how a scrappy group of blue-collar retirees rescued their pensions

2022-10-06T09:47:14-07:00October 6th, 2022|Categories: Retirement|Tags: , |

By Elanor Laise Source: MarketWatch After a long, loud battle, the victory has come quietly. Over the past few months, deposits have started appearing in the accounts of former truckers, iron workers and other retirees across the country–restoring pension benefits that these people had earned after decades working some of America’s most back-breaking jobs, only to have them ripped away in their retirement years. The restored benefits started flowing earlier this year to retired union workers from New Jersey [...]

5 10, 2022

Multiemployer Pension Plan Funding Status Has Improved

2022-10-05T14:20:44-07:00October 5th, 2022|Categories: Multiemployer Plans|Tags: |

Source: Segal In 2021, multiemployer pension plans faced continued financial market volatility as well as economic uncertainty surrounding the ongoing COVID-19 pandemic. Despite these challenges, most calendar-year multiemployer pension plans saw strong investment returns in 2021, resulting in improvements in their funding levels over the prior year. The percentage of plans in the green zone is near the level last seen just before the 2008 financial crisis. According to the latest 2022 Segal survey of plan funding and zone status: [...]

5 10, 2022

State pension age could rise to 68 ‘by 2035’ – leaving millions waiting longer for payment

2022-10-05T14:14:39-07:00October 5th, 2022|Categories: Retirement|Tags: , |

By Temie Laleye Source: Express UK Prime Minister Liz Truss is considering increasing the age for claiming the state pension to 68 by mid-2030. This is more than a decade sooner than the current policy. Under the current plans, it will not rise to 68 until 2046 — which means it will affect anyone born after 1977. Read the full article

5 10, 2022

Social Security’s Cost-of-Living Increase Will Be Largest in Four Decades, an Estimate Says

2022-10-05T14:10:04-07:00October 5th, 2022|Categories: Retirement|Tags: , |

By Mark Miller Source: The New York Times More than 70 million Americans who receive Social Security benefits can expect an inflation adjustment to their monthly checks next year that will be the largest in four decades. Government inflation figures for August, released on Tuesday, point to a Social Security cost-of-living adjustment, known as the COLA, of 8.7 percent, according to an estimate by a nonpartisan group that lobbies for seniors. The Social Security Administration will announce the final [...]

27 09, 2022

New survey shows great support for a ‘defined benefit’ retirement plan, not for a ‘defined contribution’ plan

2022-09-27T10:54:00-07:00September 27th, 2022|Categories: Defined Benefit Plans|Tags: |

By Dave Thompson Source: Prairie Public Newsroom The union representing public employees in North Dakota says a new survey from the state’s Human Resources Management Services shows strong support for a defined benefit retirement plan. That’s the plan state employees have now. An interim Legislative Committee is looking at closing that plan to new state employees, and going to a “defined contribution” plan for new hires in 2024. The survey shows 42 percent of respondents strongly agree with the [...]

23 09, 2022

A Sneaky Form of Climate Obstruction Hurts Pension Funds

2022-09-23T16:18:30-07:00September 23rd, 2022|Categories: Defined Benefit Plans|Tags: |

By Tobias Read Source: The New York Times In several Republican-led states, the officials who oversee pension funds for millions of state workers are being told, or may soon be told, to ignore the financial risks associated with a warming world. There’s something distinctly anti-free market about policymakers limiting investment professionals’ choices — and it’s putting the retirement savings of millions at risk. The Texas comptroller, Glenn Hegar, recently announced that 10 financial firms and 348 funds could be [...]

23 09, 2022

The U.S. retirement system gets a ‘C+’ grade, experts say — even though it’s worth $39 trillion. Here’s why

2022-09-23T16:16:41-07:00September 23rd, 2022|Categories: Retirement|Tags: |

By Greg Iacurci Source: CNBC The U.S. retirement system may seem flush — yet it ranks poorly in relation to those in other developed nations. Collectively, Americans had more than $39 trillion in wealth earmarked for old age at the end of 2021, according to the Investment Company Institute. However, the U.S. places well outside the top 10 on various global retirement rankings from industry players, such as the Mercer CFA Institute Global Pension Index and Natixis Investment Managers [...]

7 09, 2022

World’s largest pension funds reach new $23.6 trillion record

2022-09-07T15:05:19-07:00September 7th, 2022|Categories: Pension Funding|Tags: , |

Source: WTW Assets under management (AuM) at the world’s top 300 pension funds increased by 8.9% to reach a new record, totaling $23.6 trillion in 2021, according to the annual research conducted by WTW’s Thinking Ahead Institute. The research highlights high-level trends in the pension fund industry and provides information on the changing characteristics of these funds. While total AuM has reached record highs, growth has slowed from 11.5% in 2020 to 8.9% in 2021. This was to be expected [...]

6 09, 2022

Public Funds Are Among Strongest Backers of ESG Resolutions

2022-09-06T16:46:04-07:00September 6th, 2022|Categories: ESG|Tags: , |

Source: AI-CIO.com Public pension funds strongly support environmental, social and governance shareholder resolutions, Morningstar data show. According to a Morningstar research report released this month, public pension funds’ average rate of support for ESG resolutions was 90% in 2021, compared with 85% of ESG-focused funds and 63% of general shareholders. “Basically, public pension funds’ voting behavior looks very similar to mutual funds and [exchange-traded funds] that focus on ESG issues,” says Janet Yang Rohr, director for multi-asset and alternatives [...]

22 08, 2022

Retirement plan portability a key issue, DOL roundtable speakers say

2022-08-22T14:33:01-07:00August 22nd, 2022|Categories: Retirement|Tags: , |

By Margarida Correia  Source: Pensions & Investments The need to make workplace retirement plans portable and more accessible emerged as one of the top themes in a spirited roundtable discussion the Department of Labor hosted Monday in New York with legislators, labor leaders, investment fund managers, educators and other industry stakeholders. "Every single American worker should be able to retire with security," Labor Secretary Marty Walsh said. "No one should have to worry about outliving their money and living [...]

22 08, 2022

Retirement Industry People Moves

2022-08-22T09:03:21-07:00August 22nd, 2022|Categories: Retirement|Tags: |

By DJ Shaw Source: Plan Sponsor Schroders Announces Strategic Changes to U.S. Distribution Team Global asset manager Schroders has announced new hires and leadership changes to the American distribution team. Tiffani Potesta will be taking on the role of head of U.S. distribution, overseeing strategy and implementation for distribution across regions. Potesta will continue serving in her current role as chief strategy officer, in which she oversees marketing, product and sustainability. Mike Swinney has joined Schroders as consultant relations director, [...]

22 08, 2022

Market Cynicism Has Increased Retirement Anxiety

2022-08-22T09:00:20-07:00August 22nd, 2022|Categories: Retirement|Tags: |

By Noah Zuss Source: Plan Sponsor Amid heighted pessimism about financial markets and global political tensions, Americans are increasingly worried about the effects to their retirement savings, according to research from the Allianz Life Insurance Company of North America. The “2022 Q1 Quarterly Market Perceptions Study” found that 47% of respondents said the economy will improve in 2022, down from 54% in 2021’s first quarter and 66% in 2022’s fourth quarter, while 79% are concerned that current world tensions will cause [...]

16 08, 2022

America’s $7 Trillion Retirement Crisis Is Only Getting Worse

2022-08-16T10:47:46-07:00August 16th, 2022|Categories: Retirement|Tags: |

By Suzanne Woolley Source: Bloomberg Americans have been warned for years of an impending retirement crisis. Yet the situation is getting worse. Even when everything was going right — inflation was nonexistent, interest rates were low and stocks were in an extended bull market — there was a multi-trillion dollar savings shortfall. Then came a pandemic, war in Europe, decades-high inflation, the fastest rate-hiking cycle since the early 1980s and fears of a recession. The resulting market turmoil erased some $3.4 trillion from 401(k)s and IRAs [...]

16 08, 2022

How Unions Pave the Path to Elder Security

2022-08-16T08:58:53-07:00August 16th, 2022|Categories: Retirement|Tags: , , |

Source: American Society on Aging Despite America’s vast wealth, more than 15 million older Americans—one-third of people ages 65 and older—are “economically insecure,” meaning they are poor or near-poor, according to the National Council on Aging. Half of all Black and Latinx people ages 65 and older are in this precarious situation, and older women are especially likely to be poor. These financially fragile older Americans “struggle with rising housing and health care bills, inadequate nutrition, lack of access [...]

16 08, 2022

Workers Worry About Retirement Income as Prices Spike

2022-08-16T08:55:58-07:00August 16th, 2022|Categories: Retirement|Tags: , |

By Noah Zuss Source: Plan Sponsor Market volatility and rising prices are driving two-thirds of workers surveyed to feel more anxiety about their retirement income, the Nationwide Retirement Institute Social Security Consumer Survey shows. The concerns have led to a 10 percentage-point spike in anxiety among those surveyed from 2021, the survey found. Highlighting workers’ worries about retirement income, individuals are also anxious about Social Security, Nationwide found. Across generations, 70% of workers worry that Social Security will run [...]

16 08, 2022

PBGC Final Rule on Multiemployer SFA: Solvency Through 2051

2022-08-16T08:54:02-07:00August 16th, 2022|Categories: Uncategorized|

Source: The Segal Group On July 6, 2022, the PBGC released a final rule on the multiemployer Special Financial Assistance (SFA) program, which was created by the American Rescue Plan Act (ARPA). The final rule makes significant changes to key provisions in the 2021 interim final rule (IFR) to enable eligible plans, after receiving SFA, to pay all benefits and expenses due through 2051. Trustees of plans who are considering or revisiting the decision of whether to apply for [...]

16 08, 2022

Defined Benefit Plans May Have New Life

2022-08-16T08:48:31-07:00August 16th, 2022|Categories: Defined Benefit Plans|Tags: , |

By Noah Zuss Source: Plan Sponsor Defined benefit plans, the dinosaurs of the retirement world, may once again roam the private-sector benefits landscape, according to retirement industry veterans with pension actuarial expertise. For plan sponsors with a frozen defined benefit plan, it could be a good time to consider unfreezing, says Zorast Wadia, principal and consulting actuary, Milliman. Regulatory relief from Congress in the American Rescue Plan Act, economic and labor market conditions, hybrid pension plan designs and the [...]

16 08, 2022

U.K. pension regulator calling on plan sponsors to support pension scam prevention strategy

2022-08-16T08:46:33-07:00August 16th, 2022|Categories: Pension Funding|Tags: , , |

Source: Benefits Canada The Pension Regulator, the U.K. government body that oversees defined benefit pension plans, is calling on plan sponsors to help advance a three-pronged strategy to fight pension fraud. “Over many years, we have worked to prevent savers’ losses and put fraudsters in prison: running large-scale public awareness campaigns, leading a multi-agency response to the threat through [the pension scams action group]. . . . But the truth is, we must all do more to combat pension [...]

8 08, 2022

Plan Sponsors Are Exploring Renewed Pensions

2022-08-08T15:21:50-07:00August 8th, 2022|Categories: Economy|Tags: , |

By Noah Zuss Source: Plan Sponsor In an employer’s battle to attract and retain the best employees, enhanced workplace benefits and robust retirement plans are ammunition. According to Jonathan Price, senior vice president and national retirement practice leader at Segal, employers that recognize the myriad financial challenges workers face—from everyday financial wellness habits to short-term budgeting and long-term retirement planning—are enhancing retirement and workplace benefits to recruit and retain workers, and help current employees feel more financially secure. “What [...]

4 08, 2022

Baseline Expectations for Asset Managers on Fundamental Labour Rights

2022-08-04T16:27:13-07:00August 4th, 2022|Categories: Pension Funding|Tags: |

Source: Committee on Workers' Capital The Baseline Expectations for Asset Managers on Fundamental Labour Rights are geared at helping CWC network participants hold the asset managers they contract accountable on fundamental labour rights. The CWC Baseline Expectations are divided into four categories from which to assess an asset manager’s level of commitment to respecting and upholding fundamental labour rights: (1) Stewardship framework (2) Stewardship in public equities (including proxy voting and engagement) (3) stewardship in private markets (4) Policy [...]

4 08, 2022

Protecting Pensions and ESG Risks

2022-08-04T16:25:39-07:00August 4th, 2022|Categories: ESG|Tags: , |

By Tim Hennessey Source: IFEBP As the global impact of climate change grows, environmental, social and governance (ESG) factors have become a core consideration for pension funds. ESG issues and concerns can no longer be relegated to debates among pension fiduciaries about values investing or investment returns and instead require a holistic approach, author Janis Sarra noted in her article “Protecting Pensions Through Effective Governance of Climate and ESG Risks” in the July/August issue of Plans & Trusts. Sarra, [...]

27 07, 2022

CalSTRS gets pushback on collaborative investing

2022-07-27T11:33:14-07:00July 27th, 2022|Categories: Pension Funding|Tags: |

By Arleen Jacobius Source: Pensions & Investments CalSTRS' ambitious collaborative model is starting to experience growing pains. Staff members of the $314.8 billion West Sacramento-based pension fund, the nation's second-largest public pension plan, are starting to get some pushback from their board as they work to implement version 2.0 of the model that will result in plan officials having more control over the fund's investments. Designed to reduce costs, control risk and boost returns, CalSTRS' collaborative model is a [...]

27 07, 2022

U.K. pushes pension trustees to focus on the ‘S’ in ESG, with help

2022-07-27T11:31:00-07:00July 27th, 2022|Categories: ESG|Tags: , |

By Hazel Bradford Source: Pensions & Investments The U.K. government wants to make sure that pension fund trustees are giving enough attention to social factors that could have financial implications, and is setting up a task force to help. "The 'S' of ESG is one area in which the risk management of pension schemes can be strengthened," said Pensions Minister Guy Opperman, the longest serving parliamentary undersecretary of state for pensions and financial inclusion, in a statement on the [...]

15 07, 2022

Global Trade Unions Release Baseline Expectations for Asset Managers on Fundamental Labour Rights

2022-07-15T16:38:14-07:00July 15th, 2022|Categories: Economy|Tags: , |

Source: Committee on Workers' Capital The Global Unions’ Committee on Workers’ Capital (CWC) has released its Baseline Expectations for Asset Managers on Fundamental Labour Rights (“CWC Baseline Expectations”). Developed by trade unions and pension fund board members as part of the Asset Manager Accountability Initiative, the CWC Baseline Expectations will help asset owners hold the asset managers they contract accountable on fundamental labour rights. Global asset managers invest capital on behalf of workers’ retirement savings funds. Pension fund trustees [...]

8 07, 2022

Segal Marco acquires Milliman’s San Francisco investment consulting practice

2022-07-08T11:29:22-07:00July 8th, 2022|Categories: Defined Benefit Plans|Tags: , |

By Palash Ghosh Source: Pensions & Investments Investment consultant Segal Marco Advisors acquired Milliman's San Francisco investment consulting practice. The transaction marks Segal Marco's third acquisition, the firm said in a news release Thursday. The acquisition increases Segal Marco's "footprint in the public sector and adds additional endowments and foundations to its client roster as the firm continues to grow across various lines of business," the news release said. Read the full article

8 07, 2022

PBGC’s multiemployer assistance rule loosens investing restrictions

2022-07-08T11:10:04-07:00July 8th, 2022|Categories: PBGC|Tags: , |

By Brian Croce Source: Pensions & Investments The Pension Benefit Guaranty Corp. on Wednesday unveiled a final rule for a federal assistance program that aids struggling multiemployer plans. The Special Financial Assistance Program, created by the American Rescue Plan Act that Democrats passed in March 2021, was designed to shore up struggling multiemployer pension plans through 2051. The PBGC estimates the total cost will range from $74 billion to $91 billion. Under the program, a multiemployer plan is eligible for assistance [...]

8 07, 2022

Biden’s Ohio visit spotlights effort to rescue troubled MEPPs

2022-07-08T11:07:55-07:00July 8th, 2022|Categories: Pension Funding|Tags: , , |

Source: Benefits Canada Reassuring frustrated blue-collar voters, U.S. President Joe Biden on Wednesday visited Ohio iron workers to highlight federal action to shore up troubled pension funding for millions now on the job or retired — and to make his political case that he’s been a champion for workers in the White House. Biden’s speech at a Cleveland high school showcased a final rule tied to his US$1.9 trillion coronavirus pandemic relief package from last year. The rule allows [...]

29 06, 2022

Pensions & Retirement Security

2022-06-29T16:18:32-07:00June 29th, 2022|Categories: Retirement|Tags: , |

Source: National Education Association All educators deserve the ability to retire with financial security. Pensions provide educators with a guaranteed, reliable source of income in retirement. They are also a tool to attract and retain qualified, experienced educators to the profession. Schools and students succeed when talented young people in search of a challenging career are recruited into the profession, and stay in it for the long term. Pensions help do that. Pensions provide excellent retirement security. A traditional pension [...]

29 06, 2022

Gender gaps in retirement readiness and financial know-how persist, despite strides made by women in last 50 years

2022-06-29T16:14:43-07:00June 29th, 2022|Categories: Economy|Tags: |

By Sarah O'Brien Source: CNBC Despite the economic and professional gains made by women over the last 50 years, gender gaps persist — and not just in rate of pay. Retirement readiness and financial know-how are key areas with notable gaps, according to two studies recently released by the TIAA Institute. For example, among workers in TIAA’s system, men contributed a median $8,271 to their workplace retirement plan in 2020, compared with $5,994 for women. While that 27% gap [...]

7 06, 2022

Investors put new weight behind ESG mandates

2022-06-07T13:58:17-07:00June 7th, 2022|Categories: Uncategorized|

By Bailey McCann Source: Pensions & Investments Institutional investors have focused on ESG for many years, but the industry may be reaching a tipping point in terms of the specificity and sophistication of ESG mandates. Against a backdrop of increasingly hard to ignore climate risks and social unrest brought on by the COVID-19 pandemic, the death of George Floyd and the war in Ukraine, institutions are moving away from passive exclusion strategies and leveraging new data to engage with [...]

7 06, 2022

Are Millennials on Track for a Secure Retirement?

2022-06-07T13:56:44-07:00June 7th, 2022|Categories: Retirement|Tags: , |

By Ed McCarthy Source: Plan Sponsor Millennials — those born between 1981 and 1996 — are now the largest demographic group by age in the U.S. The oldest Millennials have reached age 41, which lands them in the decade when adequate retirement savings become more important. So how well are they doing with their retirement plans? Multiple Challenges Angie O’Leary, head of wealth planning with RBC Wealth Management–U.S. in Minneapolis-St. Paul, says that Millennials have multiple financial worries that can create [...]

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