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The latest Pension News

World’s biggest pension fund posts loss in longest losing streak in two decades

By Jenni Reid Source: CNBC Japan’s Government Pension Investment Fund — the world’s largest — reported a fourth consecutive quarterly loss on Friday, taking it to its longest losing streak in 20 years. The world’s largest pension fund saw a 0.97% loss on its investments in the last three months of 2022, equating to 1.85 trillion yen ($14.3 billion). The string of quarterly losses marks the pension fund’s longest stint in [...]

The stupid and dishonest idea of raising the Social Security retirement age is back

By Michael Hiltzik Source: The Los Angeles Times The people who are in the forefront of pushing Social Security “reform” by cutting benefits have gotten pretty good at hiding their intentions behind plausible-sounding jargon and economists’ gibberish. The latest “reform” package offered by the Committee for a Responsible Federal Budget, for example, calls on lawmakers to “promote stronger economic growth and productive aging” by removing “work and savings disincentives in [...]

25 states sue to stop Labor Department’s ESG rule

By Brian Croce Source: Pensions & Investments A group of 25 states is seeking to halt the Department of Labor's new ESG rule from taking effect. Republican attorneys general from the 25 states, co-led by Ken Paxton of Texas and Sean D. Reyes of Utah, filed a lawsuit Thursday in U.S. District Court in Amarillo, Texas, arguing that the Labor Department's rule undermines key protections for retirement savers, oversteps the [...]

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