August 2023
18Aug

US. NYC Comptroller Lander & Pension Fund Trustees Warn Entertainment Giants that They Risk Losing Investor Confidence over Prolonged Strikes

The trustees of the five New York City pension funds, led by New York City Comptroller Brad Lander, sent letters to the Chief Executive Officers of Disney, Paramount, and Chairman and Chief Executive Officer of Comcast, urging them to address the ongoing strikes by the Writers Guild of America (WGA) and Screen Actors Guild–American Federation of Television and Radio Artists (SAG-AFTRA) today. The ongoing WGA and SAG-AFTRA strikes have paralyzed major television and film productions in New York City and across the...

August 18, 2023
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09Aug

Spotlight: New York City Pension Fund Returns for FY 2023

The Office of the New York City Comptroller serves as investment advisor, custodian and trustee for the five New York City public pension funds (collectively referred to as the New York City Retirement Systems, or NYCRS). Through the efforts of the Bureau of Asset Management (BAM), the Comptroller’s office works with the trustees of the five systems to manage over $250 billion in assets, which represents the retirement security that the City of New York has promised to more...

August 9, 2023
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03Aug

New 2020 census data shows an aging America and wide racial gaps between generations

This report is part of a series by the author on the results of the 2020 census. In April 2021, the Census Bureau released the first set of results from the 2020 decennial census, providing a snapshot of the U.S. population for use in congressional reapportionment and redistricting. But recently, the agency released more detailed census information that shows a fuller picture of the population as it stood during the once-a-decade headcount. These new statistics provide more information on the nation’s...

August 3, 2023
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02Aug

Retirement savers are anxious about inflation and stock-market volatility: survey

More than a third of Americans say they intend to delay their retirement Inflation and stock-market volatility have some retirement savers less confident about reaching their goals, a new survey found. More than six in 10 workers say inflation is an "obstacle to saving for a comfortable retirement," according to a Charles Schwab survey of 401(k) plan participants -- up from 45% who said the same last year. Another four in 10 people say the stock market is an obstacle to...

August 2, 2023
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01Aug

Can Gen X retire? With traditional sources of income in doubt, this group can redefine the future of retirement.

For decades, many American workers could plan on roughly 40% of their retirement needs being covered by Social Security with another 60% covered by traditional pensions and savings. But people approaching retirement today face a different reality. Traditional pensions have declined significantly since 1985, and Social Security trust fund reserves could be depleted by 2033, making the idea of benefit increases, even for middle class folks who have worked hard all their lives, highly unlikely. This means that Generation X...

August 1, 2023
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July 2023
26Jul

Houston Police Officers reports 7% return for fiscal year

Houston Police Officers' Pension System posted a preliminary net return of 7% for the fiscal year ended June 30. The $7.1 billion pension fund's return fell short of the benchmark return of 7.3% for the period, according to an investment update on its website. Annualized returns for the three, five and 10 years ended June 30 were not provided. The pension fund had posted a net loss of 1.3% for the fiscal year ended June 30, 2022. The latest fiscal year's improvement over...

July 26, 2023
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25Jul

Public Pension Funds Continue to Boost Alts Allocations in Search of Higher Returns

Public pension funds have more money in alternative investments than at any point in history, according to a report from the Equable Institute, which warns that “pension funds are addicted to risk.” The nonprofit organization’s State of Pensions 2023 report identified that the risk profiles of U.S. state and local pension funds have changed significantly in recent years, with pension fund alts allocations ballooning to more than $1.6 trillion in 2022 from approximately $100 billion in 2001. Although the authors of the Equable...

July 25, 2023
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25Jul

Wall Street’s hottest ticket is these Australian funds

Morgan Stanley chief James Gorman has been tapping his Australian roots to access one of the world’s fastest-growing corners of global capital. The bank’s Melbourne-born boss is one of a string of executives from Wall Street and beyond doing more business with the largest players in Australia’s $3.5 trillion superannuation sector. The big attraction: inflows of more than $1 billion a week that need to find an investment destination. As the guardians of the country’s retirement savings outgrow their own backyard, they’re partnering...

July 25, 2023
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21Jul

U.S. Public Pensions Are Building for The Long-Term. How Pension Plans Are Reacting After A Year Of Shocks.

By Ortec Finance U.S. public sector pension plans are planning ahead for the potential impact of further economic and market shocks, a new report from Ortec Finance, the leading global provider of risk and return management solutions for pension funds and other institutions, shows. Its report based on a study* of U.S. public sector pension plan managers at U.S. public sector pension plans who collectively help manage over $1.315 trillion, found 90% plan to increase spending on scenario modeling and stress...

July 21, 2023
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21Jul

How the 1963 Equal Pay Act and 1964 Civil Rights Act Shaped the Gender Gap in Pay

By Martha J. Bailey, Thomas E. Helgerman & Bryan A. Stuart In the 1960s, two landmark statutes—the Equal Pay and Civil Rights Acts—targeted the long-standing practice of employment discrimination against U.S. women. For the next 15 years, the gender gap in median earnings among full-time, full-year workers changed little, leading many scholars and advocates to conclude the legislation was ineffectual. This paper uses two different research designs to show that women’s relative wages grew rapidly in the aftermath of this...

July 21, 2023
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