July 2024
05Jul

Judge throws out anti-ESG lawsuit against New York City pension funds

A New York state judge has thrown out a lawsuit against three of the five pensions funds in the $264.3 billion NYC Retirement System, saying New York State Supreme Court Judge Andrea Masley ruled July 2 that she dismissed the complaint because “plaintiffs here have not, and will not, suffer any monetary losses based upon defendants’ investment decisions.” Plaintiffs contended the pension funds' investment decisions would impair their ability to provide long-term benefits for retirees, an allegation Masley wrote was “speculative.” The judge supported...

July 5, 2024
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04Jul

United States: US court vacates the SEC Private Fund Adviser rule

On 5 June 2024, the United States Court of Appeals for the Fifth Circuit vacated the Private Fund Adviser rule (“Rule“) in its entirety on the grounds that the SEC, in enacting the Rule, had exceeded its statutory authority. The Rule was adopted by the SEC in August 2023 and would have fundamentally changed the regulatory landscape for private equity funds and their investors. The outcome was somewhat unexpected as in oral arguments the petitioners only directly challenged three...

July 4, 2024
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02Jul

US. It’s time for Gen X–ers nearing 60 to give their retirement plans a reality check

The oldest members of Generation X — that generation born between 1965 and 1980 and known for its irreverence, sarcasm and indifference — are hitting 59½ and eligible to start withdrawing money from retirement accounts without penalty. But should they be touching their nest eggs so soon? As the first do-it-yourself generation funding retirement largely without private pension plans, many members of Gen X graduated college or high school during a recession. They got their first jobs when 401(k)s were...

July 2, 2024
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01Jul

US. CalPERS breaks with its past

Over the past year, the US’s largest public pension system, CalPERS, has been making some interesting moves. CalPERS has been making commitments to private equity funds much smaller in size than it has traditionally targeted, including growth-oriented and venture capital vehicles. Historically, CalPERS has built its private equity portfolio to reflect its own massive size – choosing large funds into which it could make sizable investments that gave it outsized influence on the GP and potential access to choice economics and...

July 1, 2024
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June 2024
28Jun

Retirement Guide For LGBTQ Americans

By John Schmidt & Benjamin Curry Heterosexual Americans have historically made more on average than their LGBTQ+ counterparts. But some studies suggest that the income gap has disappeared. In recent years, gay men have been earning 10% more than straight men with similar education, experience, and job profiles. Same-sex married couples have a higher median household income than opposite-sex married couples, according to the U.S. Census Bureau data. But the issue is more nuanced than these broad statistics suggest. Source Forbes 

June 28, 2024
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27Jun

What if every worker in America were auto-enrolled in retirement savings?

What if every employee in America were automatically enrolled in an Individual Retirement Account? In an ongoing study, researchers from Princeton University and the Treasury Department have analyzed just such a scenario. Their conclusion: Not surprisingly, a national retirement savings plan would substantially raise the nation’s savings rate, especially for low-income workers. If every worker were automatically enrolled in a retirement plan, the savings rate among low-income workers would double, from 21% to 40%. Because fewer lower-income Americans save for retirement, a national savings...

June 27, 2024
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27Jun

How to save for retirement: Investment tips for moderate risk takers

If you plan to retire at 50, you will need to build a big enough corpus to last you through 30-35 years of retirement, or even longer. Considering inflation, and the extended period in retirement will necessitate a larger corpus than ₹2 crore to provide for your needs. Let's assume you will need ₹75,000 per month to sustain your expenses. This is 50% of your current income. If your retirement corpus of ₹2 crore (current prices) earns 9% returns, it will sustain inflation...

June 27, 2024
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26Jun

US. Pension fund for N.Y. public workers sees significant increase

The pension fund for public retirees in New York saw significant investment returns for the previous fiscal year, according to state Comptroller Thomas DiNapoli’s office. The New York State Common Retirement Fund had an investment return of more than 11.5 percent during the fiscal year ending on March 31, nearly double the long-term expected rate of return of 5.9 percent. The fund, which manages the money for local and state government retirees, ended the year at nearly $268 billion. While inflation persists...

June 26, 2024
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26Jun

US. LGBTQ elders struggle with health care, housing and isolation

LGBTQ older adults are four times less likely to be parents than older heterosexual adults, and twice as likely to grow old single and living alone, according to SAGE, a national group that offers services and advocacy for LGBTQ adults 50 and older. The challenges LGBTQ elders face overlap with an aging U.S. population. According to the U.S. Census, the population aged 65 or over grew to an unprecedented 55.8 million, or 16.8% of the total population, in 2020. The...

June 26, 2024
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24Jun

Americans Want Pensions To Make a Comeback. Will They?

It’s financially challenging to comfortably retire in the U.S. and many Americans work, without necessarily “wanting” to, well into their golden years. Though not being able to save enough for a secure retirement isn’t a particularly new crisis, the struggle has become more widespread in recent decades. One of the factors fueling the problem is the mass decline of the traditional pension plan. Americans want pension plans to make a comeback. According to a recent report from the National Institute for Retirement Security, 83%...

June 24, 2024
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