The aggregate deficit of S&P 1500 pension plans increased by $134bn in September, reaching a "post-World War II high", Mercer claims.
The deficit rose from $378bn to $152bn, while the aggregate funding ratio dropped to 72% from 79% where it stood at the end of August and from 81% since the start of the year. The previous high point was...
US - The California Public Employees' Retirement System (CalPERS) is in search of a manager to provide index fund products for six of its trust funds.
US - Telecommunications companies AT&T and Verizon Communications could face increased pension payments next year as their liabilities soar to a combined $73.2bn, according to an analyst note from Bernstein Research, a unit of AllianceBernstein.
US - Rupert Murdoch and other News Corporation directors face opposition from corporate governance advisory firm ISS which advised shareholders to vote against their re-elections to the board.
US - Acadian Asset Management has named Ronald Frashure chairman and Churchill Franklin, chief executive, after a restructure of the firm's top ranks.
US/CANADA - McGraw-Hill, owner of ratings agency Standard & Poor's, has agreed to divide itself into two separate entities following demands from shareholders including the Ontario Teachers' Pension Plan.