The estimated funded ratio of U.S. state and municipal pension plans is expected to increase to 80.6 per cent in 2024 due to the outperformance of investment targets, according to a new report by Equable Institute. The report, which analyzed trends in benefits, cash flows, contributions, funding and investments at 245 of the largest U.S. […]
The estimated funded status of the 100 largest U.S. public defined benefit pension plans rose to 79.9 per cent in June, from 79.4 per cent at the end of May, according to a new report by Milliman Inc. It found public DB plans in the report saw individual estimated returns ranging between 0.4 per cent […]
A culture of prudent investment standards and guideline compliance is keeping Canadian pension funds safe from some of the unique risk management cases seen abroad, says Scott McEvoy, a partner at Borden Ladner Gervais LLP. “Good governance starts at the top, it’s all about structure and process,” he says. Read: Canada’s retirement system ranks No. 12 […]
The Alberta Investment Management Corp. is backing an acquisition deal that will see Singapore-based Cyan Renewables buy Australian offshore marine services provider MMA Offshore Ltd. in a deal worth U.S.$714 million. According to a press release, the AIMCo participated in the acquisition through its investment in Cyan. MMA shareholders stand to obtain a 31 per […]
An article on the City of Philadelphia’s return-to-office mandate was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the week: 1. City of Philadelphia employees ordered back to office 5 days per week 2. CPPIB appointing Priti Singh as senior managing director, chief risk […]
The Ontario Pension Board is making two senior executive appointments as part of its management transition plan. The organization is appointing Marc Rondeau (pictured right) as executive vice-president and chief pension officer and Mila Babic (pictured left) as executive vice-president and chief client services officer, effective Aug. 6, 2024. Rondeau will replace Darwin Bozek as […]
Liquidity status is helping some of Canada’s biggest pension funds meet the challenges of a volatile investment market thanks to exceptional liquidity status, according to a new report by Fitch Ratings Inc. The report, which compared the credit ratings and portfolios of seven of the largest Canadian pension funds with approximately $2.1 trillion in net […]
The establishment of a green and transition taxonomy by the federal government will help provide the confidence and transparency that investors need to make decisions that are consistent with Canada’s climate objectives and transition pathways, as well as organization-specific climate action plans or net-zero commitments, said the Pension Investment Association of Canada. In an open letter, […]
In an open letter, leaders from Canada’s biggest pension funds are asking the Canadian Sustainability Standards Board to reconsider a two-year relief period granted to companies around non-climate disclosures. “Where sustainability-related factors are material, they have the potential to present material financial impacts to companies’ performance and is important information for boards and investors,” read […]
The funded ratio of the average Canadian defined benefit pension plan grew by two per cent during the second quarter of 2024 and nine per cent since the start of the year to 126 per cent, according to a new report by Normandin Beaudry. It found the average solvency ratio of Canadian pension plans rose […]