PBGC ups top pension benefit by 3.9%
US - The debt riddled Pension Benefit Guaranty Corp (PBGC) will next year increase the maximum annual benefit for plans by 3.9% to US$49 500.
The federal agency, which has a deficit of over $18bn, said workers who retire before 65 would still get smaller benefits. While it remains to be seen how much of a financial impact that will have, the...
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TRS hands $6bn to KKR and Apollo, grows strategic partners programme
US - The Teacher Retirement System of Texas has agreed to issue $6bn combined to Kohlberg Kravis Roberts and Apollo Global Management expanding its strategic partnership programme to the private markets.
US investors returns negative in Q3
US - All US institutional investors performed negatively in the third quarter of 2011 with the median public, corporate and multi-employer funds down 8.94%, 7.94% and 9.03% respectively, Wilshire Trust Universe Comparison Service (Wilshire TUCS) results...
CalSTRS policy calls for political transparency
US - The California State Teachers' Retirement System (CalSTRS) has adopted a policy which puts pressure on company management teams to disclose their political contributions.
NYSTRS rakes in best returns in quarter of a century
US - The New York State Teachers' Retirement System posted returns of 23.3% in the 12 months ended 30 June, the highest one-year return in 25 years.
Texas ERS taps Deutsche for securities lending
US - The $22bn Employees Retirement System of Texas (ERS) has selected Deutsche Bank as its new securities lending provider, replacing JP Morgan Chase.
