Verizon Communications Inc. is facing a lawsuit by retirees alleging the organization breached its fiduciary duties and engaged in prohibited transactions when it completed a US$5.9 billion pension risk transfer to Prudential Insurance Co. of America nearly a year ago, according to a report by Investment News. The proposed class action lawsuit, filed in December […]
The Canada Pension Plan Investment Board is creating a new joint venture alongside Cyrela Brazil Realty to explore opportunities in the Brazilian real estate market. The two partners have established an investment target of $400 million, primarily to develop residential condominiums in São Paulo. In a press release, Ricardo Szlejf, managing director and head of […]
In 2022, U.S. retiree spending — driven by private and public sector defined benefit pension payouts — generated US$1.5 trillion in total economic output and supported 7.1 million jobs, according to a new report by the National Institute on Retirement Security. It found in addition to the impact on employment and economic activity, DB pension […]
Only 23 per cent of U.S. employees feel educated on company goals, compared to 84 per cent of leaders who say they’re effectively communicating business goals, objectives and key results to employees, according to a new survey by Slingshot. The survey, which polled more than 250 U.S. employees, found 51 per cent said having increased transparency into these goals […]
Institutional investors are facing significant barriers to including Scope 3 emissions as part of their disclosure strategy for environmental assets, according to a new report by the United Nations’ Net-Zero Asset Owner Alliance. It found asset owners need to accommodate Scope 3 emission disclosures as part of their overall strategy to create a meaningful climate-centric […]
Employment Hero, an Australia-based human resources and employee benefits consultant, is acquiring Toronto-based HR consultant Humi. The acquisition, valued at more than $100 million, is a strategic partnership in which Humi will continue to serve the needs of Canadian small- and medium-sized employers through Employment Hero’s operating system, according to a press release. Read: Hub […]
Amazon.com is facing a lawsuit that claims the company violated U.S. federal law by using nearly US$350 million in forfeited 401(k) funds to offset the company’s own contributions rather than to reduce administrative fees for plan participants, according to a report by Reuters. In December, Cory Curtis, an employee of the online retail company, filed a […]
Canadian employees who took vacation in 2024 worked, on average, an additional 13.6 hours on top of their regular work hours to prepare for and catch up after taking time off, according to a new survey by ADP Canada. The survey, which polled more than 1,200 employees, found nearly a third (31 per cent) said […]
While U.S. institutional investors have slightly increased their allocations to diverse-managed funds, more than 95 per cent of their capital commitments remain concentrated in non-diverse managed funds, according to a new report by the National Association of Investment Companies. It found overall, institutional investors’ allocations to diverse-managed funds increased from 7.6 per cent in 2012 […]
User personalization and an ease-of-use approach are key in the adoption of artificial intelligence technology tools by pension plan sponsors, according to a new report by the CFA Institute Research & Policy Centre. It found the application of AI has the potential to revolutionize plan sponsors’ administrative duties but will require a collaborative approach that […]