BROOKVILLE, N.Y. (AP) — New York’s attorney general is asking 28 government employers for payroll data as part of an inquiry into suspected cases of workers gaming the state retirement system to pad their pensions.
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DES MOINES, Iowa (AP) — They’ve been around for decades and they’re cheaper than mutual funds, yet few companies offer collective investment trusts in their 401(k) plans. But that seems to be changing.
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SACRAMENTO, Calif. (AP) — The board of California’s giant public pension fund has voted to remove the limit on the number of shareholder proposals it can issue to companies in its portfolio.
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Greece’s retirement plan, which lets 14 percent of its work force retire early, has become divisive in Europe.
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CHARLOTTE, North Carolina (Reuters) – Bank of America Corp’s push into the competitive realm of managing retirement assets is paying early dividends.
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NEW YORK (Reuters) – The former chief investment officer for New York State’s comptroller on Wednesday pleaded guilty to helping favored firms gain access to the state’s $129 billion pension fund.
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NEW YORK (Reuters) – New York state’s former top pension investment officer pleaded guilty to a felony for helping to steer hundreds of millions of investments to a political adviser and favored firms, Attorney General Andrew Cuomo said on Wednesday.
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RETIRE? ARE YOU KIDDING? A new survey released Tuesday by the Employee Benefit Research Institute shows the percentage of workers who say they’ve saved for retirement slid to 69 percent in January, down from 75 percent in 2009.
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Even as big companies are moving their pension funds out of stocks, state governments are chasing higher returns for their plans by making riskier investments.
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A year after the stock market bottomed out, workers are still a bit pessimistic about having enough money for retirement.
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