Amid volatile stock markets, the Arkansas Teacher Retirement System’s investments gained a net $240 million in value to total $17.5 billion in the fiscal year that ended June 30, an investment consultant reported Monday to the system’s board of trustees.
General Electric’s move to significantly lower its pension liabilities is simply the latest in a sweeping corporate pivot away from guaranteed retirement benefits.
Shares of Chinese companies that trade in the U.S. traded lower Tuesday following reports that the White House is considering restricting government pension fund investments in China.
Thousands of pension fund managers and trustees are gathering for an all-expenses paid convention at the out-of-state Grand Geneva Resort and Spa, and local taxpayers are picking up the tab.
For 24 years, Karen Bradley worked as a nurse at St. Clare’s Hospital in Schenectady, N.Y. The pay wasn’t great, she says, but it was a good hospital, the place where her father once worked as a pharmacist. Bradley thought that if she stayed she’d have a nice pension for retirement.
A private-sector pension crisis is hitting roughly 19,000 current and retired unionized skilled trades workers in southeast Michigan, another sign of the precarious nature of some pension promises made to workers years ago.