The number of Texas state and local pension funds achieving Pension Review Board recommendations for overall financial health hit a new high in 2019, according to PRB data analyzed by the Texas Association of Public Employee Retirement Systems. In addition, for the first time in decades, no Texas pension fund has a target rate greater than 8 percent.
Over the past five years, 642 public safety pension funds in the suburbs and downstate have received more than $3.2 billion in investment returns. However, those funds were expected to generate at least $4.1 billion from investments, a nearly $1 billion miss.
Plaintiffs challenge the use of proprietary products in Prudential’s defined contribution retirement plans, an arrangement they say impermissibly benefitted the company at the expense of plan performance.
Individual investors at Fisher Investments transferred $20 million from the firm the week after the billionaire made lewd comments at a conference, according to a research note from Mercer, an advisor to institutional investors.
Momentum may be building to consolidate Illinois’ more than 640 downstate and suburban police and fire pension systems’ investments now that Illinois Senate President John Cullerton introduced a bill to do just that.
Some pension-fund managers are venturing further into unusual investment territory as this year’s plunge in bond yields makes it even harder to find decent long-term returns.
New York pension officials may shift money from equities to bonds to reduce market risk and ensure liquidity in their $216 billion fund, the system’s chief investment officer said on Monday.