Pensions

Teamsters’ pension plan problems

The Teamsters’ pension fund is warning hundreds of thousands of members that their benefits may be cut.

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People protest in front of the U.S. Courthouse in Detroit during the city's bankruptcy eligibility trial.

When it comes to the recent improvement in state finances, one retiree’s pain is another one’s gain. More than five years after the Great Recession tore a giant hole in their budgets, most states have made big progress in stabilizing their finances. That’s good news for millions of state taxpayers and the millions of investors …

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Even as stock market rose last year, pension funding levels at America’s biggest companies in 2014 fell to levels not seen since just after the financial crisis. One big reason: Employers cut back on contributions to their plans to the lowest amount in six years, according to an analysis by benefits consultant Towers Watson, thanks, …

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For many investors, last year’s stock market gains helped make up for the heavy losses inflicted by the 2008 financial collapse. But it turned out to be a lousy year for private pension funds, which lost ground on their funding levels. After gradual progress rebuilding the funds they need to pay retirees, the average private …

Will your retirement savings run out?

A new report shows we’re living longer, but can our pension system afford it?

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The offices of the California Public Employees' Retirement System (Calpers) are shown in Sacramento, Calif.

Investors looking to follow the strategies of hedge fund heavyweights were the big winners when a major pension plan announced last week that it was cutting a $4 billion slate of high-cost managers, according to industry experts. The California Public Employees’ Retirement System is the largest public pension manager in the U.S., so its move …

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The California Public Employees' Retirement System building in Sacramento, Calif.

A high-profile hedge fund exodus from a huge pension manager does not appear likely to spark a major movement. Pensions, investment consultants and other money managers at an industry conference this week dismissed the idea that the California Public Employees’ Retirement System’s decision to cut a $4 billion slate of hedge funds would stall the …

Public pensions & hedge funds

Calpers, the country’s biggest public pension system, is getting rid of all its hedge fund investments. Will others follow?

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A pension, for those lucky enough to have one, offers a guaranteed check every month for the rest of your life upon retirement. But a number of companies are now offering an alternative—a pension advance, typically made in one lump sum payment. Their pitch, aimed at military and government retirees with generous pension benefits and …

Stefanie Smith | CNBC
Governor Chris Christie

From revenue shortfalls to a pinched pension system, the fiscal woes facing the state of New Jersey are so serious that if not dealt with swiftly, it could “eat us alive,” Gov. Chris Christie told CNBC on Tuesday. Read More Are public pensions headed for another disaster? The Republican governor appeared on “Squawk Box” the day after signing …

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Despite healthy gains from the ongoing stock market rally, public pension funds are still badly underfunded and the shortfall continues to widen. To try to close the gap, many states have shifted pension fund assets into stocks and alternative investments like hedge funds. But in doing so, they face a greater risk of being able …