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9 Jul 2011, 8:46 am
Wells Fargo & Co. has agreed to pay $125 million to a group of pension funds to settle a class action filed by various public pension funds that purchased billions of dollars of mortgage-backed securities believing their money was in AAA-backed investments, according to a Wall Street Journal article by David Benoit entitled “Wells Fargo Settles Pension-Fund Mortgage Suit. [read post]
1 May 2009, 12:47 pm
Cuomo of New York said Friday that his office had issued more than 100 new subpoenas to investment firms and intermediaries who broker deals with public pension funds, in the latest expansion of his pension corruption investigation. [read post]
29 Sep 2023, 8:43 am by Chris Sivel
These payments are funded by taxpayers and rank-and-file public employees alike,” said O’Scanlon (R-13). [read post]
17 Feb 2011, 9:47 am
The recent lawsuits allege violations of state law to recover losses suffered by public sector pension funds. [read post]
9 Jul 2010, 9:32 am by Page Perry LLC
The Securities and Exchange Commission has unanimously passed a new rule banning so-called “pay to play” in the $2.6 trillion business of managing public pension funds. [read post]
21 Sep 2022, 3:31 pm by luiza
Many of the state versions cover any company that lies in order to get public pension money–in other words, stealing from the pensions is stealing from the state. [read post]
4 Jul 2011, 9:54 pm by Susan Mangiero
Various sources tout increasing inflows to hedge funds from public and corporate pension plans. [read post]
26 Jan 2021, 1:13 pm
Entitled the Emergency Pension Plan Relief Act (EPPRA), the bill would fund this directly from the U.S. [read post]
26 Jan 2021, 1:13 pm
Entitled the Emergency Pension Plan Relief Act (EPPRA), the bill would fund this rescue directly from the U.S. [read post]
20 Apr 2009, 4:33 am
The Carlyle Group, the private equity firm whose transactions are being examined as part of a U.S. probe into alleged kickbacks paid to secure investments from the New York State pension fund, has decided to stop using placement agents to solicit money from public pension funds, The Financial Times reported. [read post]
30 Nov 2022, 9:30 pm by ernst
Public Pensions, 1945-1974:This article examines a major transformation public employee pension investment in the United States, from investing public funds in public infrastructure in the 1940s and 1950s, to investing public funds in private securities—corporate bonds, stocks, and mortgages—in the 1960s and 1970s. [read post]
11 Mar 2021, 11:49 am
  Included among these funds is a particularly large fund that – absent congressional intervention – would have gone insolvent by 2025, leaving millions of retirees without their expected monthly pension. [read post]
26 Mar 2016, 11:46 am by Walter Olson
“In yesterday’s decision, the [Illinois Supreme Court] — as it did in a 2015 case dealing with state workers—relied on a clause in the Illinois Constitution that treats government pensions as ‘an enforceable contractual relationship, the benefits of which shall not be diminished or impaired.'” It wasn’t relevant that Chicago’s pension scheme was $8 billion in the hole, or that most of the city’s public unions had… [read post]
7 Jul 2008, 1:45 pm
California's public employees' pension fund, the world's largest, made its first investment of $1.1 billion into oil and other commodities early last year, and since then, Calpers has seen it soar 68 percent. [read post]
26 Dec 2010, 2:09 pm by Buce
George Will gasps this morning at the horror of the state and local pension calamity: the shortfall in funding, the chaotic accounting and disclosure, and the overall grabbiness of employes on the public payroll. [read post]