December 2022
16Dec

U.S. public pension funding improves in November – Milliman

The overall estimated funding ratio of the 100 largest U.S. public pension plans rose to 74.7% at the end of November thanks to positive market returns, according to the Milliman 100 Public Pension Funding index. During the month of November, Milliman estimated that public pension plans had an aggregate investment return of 4.7%, with an estimated range of 2.5% to 7.2%. It was the second month in a row that estimated funding ratios rose because of market returns. Milliman estimated that...

December 16, 2022
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16Dec

US. Republicans introduce SEC oversight bill

As Republicans prepare to take control of the House next month, a trio a GOP lawmakers introduced a bill signaling added oversight and scrutiny coming to the Securities and Exchange Commission. The Review the Expansion of Government Act, or REG Act, introduced Wednesday by Rep. Young Kim, R-Calif.; Rep. French Hill, R-Ariz.; and Rep. Bill Huizenga, R-Mich., would require the SEC to review every final rule it promulgates every three years after implementation. The agency would be required to create a...

December 16, 2022
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14Dec

US. What SECURE Act 2.0 passage would mean for retirement plans

In these uncertain economic times, America's workforce has not lost sight of the importance and value of employer-sponsored retirement savings plans. These popular programs — such as 401(k) plans — are an essential tool in attracting and retaining talent in a tight labor market, as well as bringing financial security to workers and retirees. So it's important that the governing rules provide savings opportunities for workers and clarity and efficiency for employer plan sponsors. These rules could be significantly improved...

December 14, 2022
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12Dec

US. Political fight against ESG continues in 3 states

Politicians in Kentucky, Florida and North Carolina have continued a crusade by Republican leaders for pension funds to break with ESG and BlackRock. While several state treasury funds have dropped BlackRock from investments, pension plans have been less willing to follow. In Florida, Chief Financial Officer Jimmy Patronis terminated BlackRock from the management of $2 billion in the state's long-duration portfolio and called on the Florida State Board of Administration, Tallahassee, to drop BlackRock from more than $13 billion in...

December 12, 2022
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09Dec

EEUU. Joe Biden destina $36,000 millones a jubilados sindicalizados, ¿a quiénes beneficia?

El presidente Joe Biden otorgó casi 36.000 millones para ayudar a las pensiones de los empleados sindicalizados, según un anunció de este jueves. La infusión ayudará a un plan de pensión sindical con problemas financieros, evitando recortes severos de Rescate Americano, y es la mayor cantidad de ayuda federal proporcionada para un plan de pensiones, dijo el gobierno de Biden; además equivale a más de un tercio del recurso del Plan de Rescate. Muchos planes de jubilación sindicales han estado...

December 9, 2022
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09Dec

President Joe Biden announces 36-billion federal aid struggling central states

President Joe Biden on Thursday announced that the Pension Benefit Guaranty Corp. has approved $36 billion in federal assistance to shore up a massive union multiemployer pension plan facing steep cuts. Teamsters Central States, Southeast & Southwest Areas Pension Fund, Chicago, will receive the funds under the Special Financial Assistance Program. The program, created by the American Rescue Plan Act that Democrats passed in March 2021, was designed to shore up struggling multiemployer pension plans through 2051. The PBGC estimates...

December 9, 2022
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09Dec

U.S. corporate pension plans’ funding ratios remained over or near 100% in November

U.S. corporate pension plans' funding ratios remained over or near 100% in November, but four reports said ratios dropped slightly because rising discount rates offset strong investment returns for the period. The estimated funding ratio of the 100 largest U.S. corporate pension funds fell to 111.2% as of Nov. 30, down from 113.3% as of Oct. 31, according to the latest Milliman 100 Pension Funding index. The slight dip was driven by the discount rate decreasing to 5.16% as of Nov....

December 9, 2022
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06Dec

Big Finance Has a Sustainability Problem. These Brands Have Solutions

The Co-Operative Bank and Make My Money Matter want to show consumers the power of their money The first question David Hayman asks new people he meets is if they know where their pension money is held. Most say they don’t. If you’re reading this in the U.K., you might be surprised to learn that yours is most likely invested in fossil fuels, tobacco or arms. In the U.S., just 14 public pension funds inject $82 billion each year into...

December 6, 2022
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06Dec

How Access To Retirement Plans (or Lack Thereof) Is Preventing Americans From Having Adequate Savings

Access to a workplace retirement plan typically prompts more people to save, but many Americans don’t even get the chance. This problem has to do with the current retirement system, as more employers opt for 401(k) plans and other similar retirement accounts over pensions, putting the responsibility of saving on the workers instead. “There are too many Americans who don’t have that future stability,” U.S. Secretary of Labor Marty Walsh said at an event hosted by the Employee Benefit Research...

December 6, 2022
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05Dec

Private Debt Funds Tap Australia’s $2.3 Trillion Pension Savings

After winning over some of the biggest retirement plans in the US, private credit managers have found new fertile ground for their investment pitch: Australia’s $2.3 trillion pension industry. Four of the top-10 pensions Down Under -- Australian Retirement Trust, HostPlus, UniSuper and Colonial First State -- are making significant increases to their private credit allocations, according to recent statements and interviews with Bloomberg News. AustralianSuper, the nation’s largest, is midway into a three-year push to triple its allocation. That’s music...

December 5, 2022
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