NCPERS News Clips
6/8/2010
News Clips for June 8th, 2010
News Clips for June 8th, 2010
- Blackstone Tries to Assuage NYC Pensions After Wien's Comments
Blackstone Group LP, the world's biggest private-equity firm, is trying to mend relations with New York City's public pension funds after strategist Byron Wien said retiree benefits were "too generous."
- US DB plans funding improves
The defined benefit (DB) plans of US companies have improved their funding from 2008 lows, but still showed a funding gap of US$252bn at March 31 2010, a report from Mercer revealed.
- Massachusetts plans outperform PRIM
Massachusetts' public employee pension plans that invest independently of the state's Pension Reserves Investment Management Board returned a median 20.3% in 2009, 2.8 percentage points above the return of MassPRIM for the same time period
- N.Y. Pension Gains 26%, Most Since 2004; Assets Shift
The New York State Common Retirement Fund, the third-largest U.S. public pension plan, reported a 26 percent investment gain in fiscal 2010, the most in six years.
- Cook County to sell $80 million in pension notes
Cook County, Ill., plans to issue $80 million in pension obligation notes to finance part of its contribution to the $6 billion Cook County Annuity & Benefit Fund, Chicago. (subscription required)
- S&P 1500 plans' funding ratio falls to 79%
Falling equity values and declining interest rates dropped the funding ratio of S&P 1500 companies' pension plans five percentage points to 79% for the two months ended May 31, according to a Mercer report. (subscription required)
- 25 IS THE NEW 20 - New pension bills seeks 25 years of service for fire and police
(Baltimore, MD) A new pension overhaul bill intended to jump start stalled negotiations between unions representing fire and police officers and the city will raise the years of service required for retirement from 20 years to 25 years for both groups of public safety personnel.
