Free Republic 3rd Qtr 2020 Fundraising Target: $88,000 Receipts & Pledges to-date: $32,871
37%  
Woo hoo!! And we're now over 37%!! Thank you all very much!!

Keyword: pensionfund

Brevity: Headers | « Text »
  • GOP lawmaker accuses California public pension fund of investing in blacklisted Chinese companies

    02/17/2020 5:51:57 PM PST · by bitt · 11 replies
    The Hill ^ | 02/13/20 | BY KAELAN DEESE
    Rep. Jim Banks (R-Ind.) on Thursday said that he has written a letter to California Gov. Gavin Newsom (D) to voice concerns over the state's public pension fund chief and his connections with China. The Indiana congressman is calling out the California Public Employees' Retirement System (CalPERS), the largest state pension fund in the U.S., for allegedly investing in numerous select blacklisted Chinese companies that manufacture military products. The California-based fund invested $3.1 billion into 172 different Chinese companies, Banks said in an appearance on Fox Business Network. He said that some of the companies invested in have been blacklisted...
  • Rahm Emanuel raised taxes.. pension funds.. The shortfall still ballooned by $7 billion.

    10/03/2019 7:44:16 AM PDT · by george76 · 27 replies
    CHICAGO TRIBUNE ^ | OCT 03, 2019 | HAL DARDICK and JUAN PEREZ JR.
    Rahm Emanuel raised taxes to get city worker pension funds on a ‘path to solvency.’ The shortfall still ballooned by $7 billion. ... A record-high property tax increase. A new tax on water and sewer service. A higher 911 emergency fee on telephone lines... Emanuel’s series of tax hikes was painful, but he promised the extra money was part of a plan to get the woefully underfunded city worker pension funds on a “path to solvency.”.. in the four years since .. The pension funds are actually worse off. When Emanuel pushed through the tax hikes, the city worker retirement...
  • City Planning staffer rakes in more than $300K thanks to 'double-dipping' (NYC)

    12/15/2018 7:11:30 AM PST · by george76 · 16 replies
    Crain's New York Business ^ | December 14, 2018 | WILL BREDDERMAN
    One of the architects of Mayor Bill de Blasio's housing plan is living well at the taxpayer's expense... Anita Laremont, the executive director of the Department of City Planning, as one of four civil servants raking in more than $300,000 this fiscal year thanks to special permission to receive both a public paycheck and public-pension payments. Waivers granted under Section 211 of New York's Retirement and Social Security Law are supposed to allow the state and local governments to attract and retain employees younger than 65 ... the real number of high-earning double-dippers may be considerably greater because waivers are...
  • Emanuel proposes water, sewer tax to shore up ailing pension fund

    08/04/2016 7:54:59 AM PDT · by ChicagoConservative27 · 43 replies
    Mayor Rahm Emanuel on Wednesday called for a new tax on city water and sewer bills to stabilize the city's largest pension fund, a move he portrayed as his latest tough decision to secure Chicago's financial future. Emanuel's plan, which would increase the average water and sewer bill by 30 percent over the next four years, was quickly met with resistance from some aldermen who argued the city would be better off adding business taxes or even raising property taxes again to come up with the hundreds of millions of dollars a year needed to keep the city's municipal workers'...
  • World’s Biggest Pension Fund Loses $51 Billion in Stock Rout

    07/30/2016 6:26:17 AM PDT · by CorporateStepsister · 13 replies
    Bloomberg ^ | July 30 2016 | Yuko Takeo and Shigeki Nozawa
    Japan’s $1.3 trillion Government Pension Investment Fund lost 3.8 percent in the year ended March 31, or 5.3 trillion yen ($51 billion), the retirement manager said Friday in Tokyo. That’s the biggest drop since the fiscal year ended March 31, 2009. GPIF lost 10.8 percent on domestic equities and 9.6 percent on shares in other markets, while Japanese bonds handed the fund a 4.1 percent gain.
  • CalPERS posts worst year since 2009, with slim returns

    07/18/2016 8:56:52 PM PDT · by bkopto · 29 replies
    LA Times ^ | July 18, 2016 | James Koren
    California’s largest public pension fund made a return of less than 1% in its most recent fiscal year, the fund’s worst performance since 2009. The California Public Employees’ Retirement System said Monday that its rate of return for the year ended June 30 was just 0.61%. What’s more, Ted Eliopoulos, the pension fund’s chief investment officer, said the poor year has pushed CalPERS’ long-term returns below expected levels. “We have some challenges to confront,” Eliopoulos said during a conference call. “We’re moving into a much more challenging, low-return environment.” CalPERS assumes that, in the long-term, it will earn investment returns...
  • San Francisco seeks to ban pension fund from investing in gun industry

    06/28/2016 6:07:31 PM PDT · by Lonely Bull · 23 replies
    KTVU ^ | Jun 28 2016
    SAN FRANCISCO (KTVU) -- The San Francisco Board of Supervisors on Tuesday approved a measure that would ban the city employee retirement system from investing in companies that participate in firearm and ammunition manufacturing. The resolution by the supervisors could have a ripple effect throughout the country as the debate about gun control grows in the wake of a mass shooting in Orlando two weeks ago at a gay nightclub that left 50 people dead and several others injured. San Francisco Mayor Ed Lee is trying to gather support nationwide by asking the mayors of both Boston and New York...
  • State pension fund investment returns fall short ( Colorado )

    06/23/2016 7:18:08 AM PDT · by george76 · 14 replies
    Herald ^ | June 22, 2016 | Peter Marcus
    State Treasurer Walker Stapleton and PERA Executive Director Greg Smith disagree about how serious the disappointing 1.5 percent return on retirement investments the Public Employees’ Retirement Association fund for 2015 will be in meeting future pension obligations. ... State Treasurer Walker Stapleton said Tuesday’s announcement from the Public Employees’ Retirement Association is evidence of a mishandling by the board, in line with concerns he has raised for several years. ... Stapleton is outraged. For several years, the Republican has shouted for more conservative assumptions. He worries about long-term stability under a high projected rate of return. “PERA has assumed the...
  • CPS tells principals it lacks the cash to get through this year ( Chicago )

    03/10/2016 6:28:50 AM PST · by george76 · 21 replies
    Chicago Tribune ^ | March 10, 2016 | Juan Perez Jr.
    Chcago Public Schools officials told principals on Wednesday that the district is "short of the necessary cash for the remainder of the school year" partly because of a pension payment of nearly $700 million due this summer. ... Last month, principals had to absorb $26 million in midyear budget cuts to district-operated schools. Principals tapped internal accounts, cut planned technology and textbook purchases and didn't fill vacant positions to avert layoffs. On Wednesday, principals were told to hold off on $45 million budgeted for "non-personnel" expenses. The district said it wants to save another $10 million through a limit on...
  • $20B United Methodist Church Pension Fund Blacklists Israel's 5 Largest Banks

    01/14/2016 8:30:08 AM PST · by SeekAndFind · 16 replies
    Christian Post ^ | 01/14/2016 | Leonardo Blair
    It further notes: "There are specific times, however, when we must recognize that a company is very unlikely -- or unable to -- discontinue activities in certain parts of the world that we have classified as 'high-risk.' When activities in high-risk countries and areas represent a significant part of a company's business, we will avoid investing until the company has changed its business practices. Avoiding such investments supports our commitment to sustainable investing, which we believe ultimately improves the performance of our investment funds." Israel-Palestine, North Korea and several African and Middle Eastern countries round out a list of 14...
  • NYC mayor to urge city pension funds to divest from coal

    09/29/2015 4:54:08 AM PDT · by SeekAndFind · 13 replies
    Seattle PI ^ | 09/29/2015
    <p>NEW YORK (AP) — New York City Mayor Bill de Blasio is set to propose that New York City's pension funds divest from coal.</p> <p>De Blasio administration officials told The Associated Press that the mayor will begin making his case to the city's five pension funds on Tuesday.</p>
  • Second Largest US Pension Fund To Sell 12% Of Stocks Holdings In Advance Of "Another Downturn"

    09/05/2015 8:03:02 PM PDT · by SkyPilot · 9 replies
    Zero Hedge ^ | Submitted by Tyler Durden on 09/02/2015 17:49 -0400 | Tyler Durden
    While many continue to debate if what with every passing day increasingly looks like a global recession, one from which the US will not decouple no matter how many "virtual portfolio" asset managers claim the contrary, there are those who without much fanfare are already taking proactive steps to avoid the kind of fallout that the markets have hinted in the past month of trading, is inevitable. Some such as Calstrs: the nation's second largest pension fund with $191 billion in assets (smaller only than Calpers), which as the WSJ reports is "considering a significant shift away from some stocks...
  • Dutch pension fund pulls out of Israeli banks

    01/08/2014 10:14:36 PM PST · by Olog-hai · 15 replies
    Jewish Chronicle ^ | January 8, 2014 | Sandy Rashty
    One of the largest pension asset management companies in the Netherlands has said that it divesting from five Israeli banks because they finance Jewish settlements in occupied territories. … A PGGM spokesperson told newspapers: "The reason for this was their involvement in financing Israeli settlements in occupied Palestinian territories. The settlements in the Palestinian territories are considered illegal under humanitarian law.” …
  • Green energy bad idea for pension funds

    07/15/2012 7:40:28 PM PDT · by george76 · 6 replies
    The San Diego Union-Tribune ^ | July 5, 2012 | Bill Gunderson
    State pension fund managers you can relax now: Al Gore is here. Gore wants to put your retirement savings in green energy. He does not want to tell us what companies or how much. Just last month it was revealed that Al Gore’s investment company has been managing assets for New York state and city pension funds for three years. Pension fund officials say Al is doing a great job. But they refuse to tell us where Gore is putting the money. The news of Gore’s involvement in state pension funds comes the same week several research reports surfaced that...
  • Obama Car Czar Banned from Securities Industry

    10/14/2010 8:24:31 AM PDT · by TigerLikesRooster · 10 replies
    Money News ^ | 10/14/10
    Obama Car Czar Banned from Securities Industry Thursday, 14 Oct 2010 09:31 AM Steven Rattner is near a settlement with the U.S. Securities and Exchange Commission in a probe of corruption at New York state’s pension fund, according to a person familiar with the matter. Rattner, 58, is the co-founder of Quadrangle Group LLC, a New York-based private-equity firm he has since left. The proposed agreement includes a two-year ban from the financial industry and a $6 million fine, according to the person, who declined to be identified because the talks are private. In June, the SEC proposed a three-year...
  • Bobby Bailout: Casey to Put Taxpayers on Hook for Teamsters’ Shenanigans

    08/17/2010 8:11:12 AM PDT · by roses of sharon · 7 replies
    Sen. Robert Casey (D., Pa.) and Rep. Earl Pomeroy (D., N.D.) are pushing legislation that would commit taxpayers’ dollars to bailing out the Teamsters’ retirement pension fund. The financial crisis and the Great Recession may have upset your retirement plans, but that’s not reason that politically connected union thugs have to share the pain. Here’s the deal, as former Department of Labor official Vincent Vernuccio, now an analyst at the Competitive Enterprise Institute, tells Exchequer: Under the Democrats’ plan, the U.S. Pension Benefit Guaranty Corp., which is basically a pension-insurance fund run by the federal government, would be able to...
  • 61% Underfunded Illinois Teachers Pension Fund Goes For Broke,...By Selling Billions In CDS

    06/14/2010 5:43:39 PM PDT · by TigerLikesRooster · 17 replies · 935+ views
    Zero Hedge ^ | 06/14/10 | Tyler Durden
    61% Underfunded Illinois Teachers Pension Fund Goes For Broke, Becomes Next AIG-In-Waiting By Selling Billions In CDS Submitted by Tyler Durden on 06/14/2010 14:47 -0500 “If you were to have faxed me this balance sheet and asked me to guess who it belonged to, I would have guessed, Citadel, Magnetar or even a proprietary trading desk at a bank.” So begins a story by Alexandra Harris of the Medill Journalism school at Northwestern, which, however, does not focus on some exotic product-specialized hedge fund, or some discount window (taxpayer capital) backed prop desk (hedge fund) at a TBTF bank, but...
  • California's Half-Trillion-Dollar Pension Fund Mess: Blame Jerry Brown (and don't vote for him)

    06/02/2010 11:43:14 AM PDT · by SeekAndFind · 15 replies · 789+ views
    American Thinker ^ | 04/2010 | Jane Jamison
    California is the nation's shameful example of what happens when Democrats influenced by big-government labor rule the statehouse for forty years. With 12.5% unemployment (up from 4.5% a mere three years ago) and a "recognized" budget deficit of $21 billion, California has just found that out it is in much, much more financial trouble than anyone, especially a Democrat, really wants to admit. California's governor Schwarzenegger commissioned a study by Stanford University, which has found that California's three public employee pension funds (The California Public Employees' Retirement System [CalPERS], California State Teachers' Retirement System [CalSTRS], and University of California...
  • Gay couples sue Calif. pension fund over insurance

    04/13/2010 9:24:50 PM PDT · by JoeProBono · 4 replies · 471+ views
    hosted ^ | Apr 13
    SAN FRANCISCO (AP) -- Three gay couples are suing California's giant public pension fund and the Internal Revenue Service to make long-term care insurance available to the same-sex spouses of state government workers. The Legal Aid Society-Employment Law Center filed the federal lawsuit Tuesday in San Francisco on behalf of the three married couples.
  • Giant California pension funds may lower earnings expectations

    03/03/2010 8:12:01 AM PST · by TigerLikesRooster · 7 replies · 421+ views
    SacBee ^ | 03/03/10 | Dale Kasler
    Giant California pension funds may lower earnings expectations dkasler@sacbee.com Published Wednesday, Mar. 03, 2010 Bruised by heavy losses and wary of the economic road ahead, California's two big public pension funds are considering reducing their official forecasts of future investment results. Such changes would have huge implications for taxpayers and public employees. A reduction in the investment projections would put more pressure on taxpayers and workers to support the two retirement systems, which already are significantly under-funded. The less the California Public Employees' Retirement System and the California State Teachers' Retirement System believe they'll earn from their investments, the more...