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The underlying reason, it says, is that state finances are tight and there is a growing concern over state pension liabilities. In response, some states, notably Delaware and Wisconsin, have considered eliminating the state treasurer's office or
Just a few short months ago, the Cyprus bail-in plan, which forcibly extracted assets from almost anyone with a bank account while the island nation fought to stave off creditors, seemed to forge a new frontier for cash-strapped governments.
Security System (SSS) will now operate six days a week, starting tomorrow. All members can transact at all branches nationwide every Saturday, starting Oct. 26 as part of the agency's thrust to make SSS services more accessible to its membership,
Some of the largest pension funds in the U.S. and the world are worried that major fossil fuel companies may not be as profitable in the future because of efforts to limit climate change, and they want details on how the firms will manage a long-term
In April 2011, New Jersey resident Carol Montague received a letter from American Water Works Co.'s pension plan informing her that it had overpaid her for more than five years and it wanted its money back -- plus interest...Two weeks after receiving
The $53 billion pension fund for state and public workers has reaped a 15.4 percent annualized return over 10 years on investments with firms that buy and sell companies for profit, according to the study released Wednesday by the Private Equity
James Best Jr./The New York Times The constitutions of some states, including Michigan, explicitly bar the cutting of public pensions. But what about extra payments promised to Detroit's workers and retirees? The city's pension system made extra
Prince of Wales said portfolios must be "resilient in the long term" to avoid a "miserable future" The Prince of Wales has told the pensions industry to use a longer-term investing approach or risk a "miserable future" for the next generation...
Only building sector pension bpfBouw can say with certainty pensions won't have to be cut next year. It has increased its coverage ratio to nearly 110%, well over the legal minimum of 105%. Civil service pension fund ABP, one of the biggest funds in
The four-year pension levy was supposed to finish at the end of this year but is now set to continue at different rates. It is on target to raise 2bn from private retirement funds, with the money being used to create jobs. The levy has ended up