Diversified pooled fund managers posted a median return of 0.1% before management fees in the second quarter of this year, according to Morneau Shepell’s Performance Universe of Pension Managers’ Pooled Funds.
The rising price tag of healthcare and the risks and costs associated with funding pension plans continue to be a concern for finance executives in the United States.
The United Kingdom Supreme Court says that Nortel and Lehman Brothers pension plan members should be treated the same as other unsecured creditors of the bankrupt companies.
The New York City pension funds reaped investment returns of 12.3% in fiscal year 2013, which ended June 30, beating benchmarks and bringing their total value to approximately US$137 billion (C$141.6 billion)—the highest ever for a fiscal year-end.
Two Detroit pension funds have filed a suit against the city’s emergency manager and the governor of Michigan to try to prevent Detroit from filing for bankruptcy.
Thanks to steady growth in the global stock market, the California State Teachers’ Retirement System (CalSTRS) closed the 2012/13 fiscal year with an investment return of 13.8%. But long-term funding remains a challenge for CalSTRS, the largest teachers pension fund and second largest public pension fund in the United States.
The Government of Quebec has released a draft regulation concerning new relief measures for the funding of solvency deficiencies for private sector pension plans, according to a Towers Watson advisory.
Citigroup has sold the group pension fund of Electric and Musical Industries (EMI), a former music company, to the Pension Insurance Corporation, completing the biggest pension insurance buyout in the UK.
Today, most plan sponsors’ contributions to their DB plans are being driven by the results of their pension plans’ solvency valuations.
Many DB plans around the world, including Canada, are in bad shape, according to a study.