We often talk about retirement and pensions as though they’re the same thing. When we retire, we receive a pension, and we become pensioners. But a pension has a specific meaning. It refers to a particularly kind of retirement plan. An employer makes contributions to a pool of funds. It invests the funds for the…
Guard Your Pension! Understand Defined-Contribution Plan vs Defined-Benefit Plan
Shrinking Ratio of Canadian Workers to Seniors Will Increasingly Strain Government Finances, Study Finds
As the ratio of working Canadians to seniors continues to shrink, it will strain government spending earmarked for older folks in the years ahead due to fewer working taxpayers, a new study finds. “Workers pay the bulk of taxes, which governments need to fund important services, including health care and income transfers to seniors,” said…
Quebec Pension Fund Pulls out of Montreal Rapid Transit Project, Province Takes Over
Quebec’s provincial government and the City of Montreal are taking over a controversial rapid transit project from Quebec’s pension fund manager. Premier François Legault said today it’s clear there’s no public support for an elevated railway in downtown Montreal. Legault says that without the downtown section of the rail line, the Caisse de dépôt et…
California’s Pension Fund Saw $700 Million Go up in Smoke Following Earnings-Triggered Sell-Off in Netflix
Netflix, Inc. shares suffered a bloodbath on Wednesday, having shed over 35 percent in a single session, following its disappointing quarterly results and weak guidance. One of the largest U.S. pension funds, which held a chunk of the streaming giant’s shares, incurred a massive loss amid the plunge. What Happened The California Public Employees’ Retirement…
NY Pension Chief Says McDonald’s, PepsiCo Should Consider Russia Risk
NEW YORK—The chief of New York state’s pension fund said on Thursday that McDonald’s Corp., PepsiCo. and other companies with a large footprint in Russia “need to consider whether doing business in Russia is worth the risk during this extraordinarily volatile time.” Political pressure is building for companies to halt business in Russia because of…
Newsom Seeks to Halt State’s Pension Investments in Russia
SACRAMENTO—As tensions rise over Russia’s war with Ukraine, California Gov. Gavin Newsom is seeking to halt the state’s top pension funds investments with Russia. Newsom sent a letter (pdf) on Feb. 28 asking the leaders of the state’s three top pension funds—which jointly hold $970 billion in funds, according to the governor’s office—to halt the…
This Day in Market History: Pension Benefit Guaranty Corp, Makes First Payout
Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date. What Happened? On Feb. 28, 1975, the Pension Benefit Guaranty Corp. paid out its first check. What Else Was Going On In the World? In 1975, the Vietnam War officially ended when communist forces took control of Saigon. In…
Toshiba Should Overhaul Board and Management, Major Japan Pension Fund Says
TOKYO—Toshiba Corp’s proposal to split itself into three companies won’t solve its governance issues and the conglomerate should prioritize an overhaul of its board and management, said a senior executive at one of Japan’s largest pension funds. Ken Hokugo, corporate governance director at the Pension Fund Association (PFA), said the interests of Toshiba management and…
Warnings on CCP China Investments Highlights Other Risk in State Pensions
Commentary Bryan Jung wrote recently in these pages about a Consumers’ Research warning that investment fund BlackRock’s investments in CCP China could have a deleterious effect on investors’ portfolios. William Hild, the executive director of Consumers’ Research, had also sent a letter to 10 of the nation’s governors warning that their public employee pension funds placed with…
NTD Business Full Broadcast (Aug. 10)
The massive spending bills being debated in congress are expected to increase the federal deficit by a great deal, would it impact your retirement funds? Amazon to start paying customers if they get injured by products they bought on the platform. Even if it was from a third party seller. But the e-commerce giant says that…
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- City News ServiceINGLEWOOD, Calif.—A man’s body was pulled from the lake at SoFi Stadium in Inglewood July 6, and an investigation into the man’s death was underway. Firefighters were sent to the… [...]
- Bill PanA school board director in Washington state says she will host events at an “identity-inclusive” and “not creepy” adult store she owns and discuss topics such as “sexual anatomy for… [...]
- Jamie JosephLOS ANGELES—The attorney representing the family of a Los Angeles Police Department (LAPD) officer who died during a training incident pushed back against the police chief’s claims that the officer… [...]
- Andrew ThornebrookeThe Pentagon is investing tens of millions of dollars into high-altitude balloons that it intends to use for surveillance. The balloons are hoped to fly twice as high as most… [...]
- Gary BaiElon Musk has called on an independent journalist to provide information on how the U.S. government is allegedly pressuring Twitter to suspend the journalist’s account for posting anti-vaccination content. Musk asked… [...]
- Nanette HoltFormer president Donald Trump has been trying, unsuccessfully, to block unauthorized use of his name, image, and likeness, especially in campaign fundraising communications, according to recent reports. Because legally he’s… [...]
Casey DeSantis Says Biden Admin Report Ignores ‘Democrat Lockdowns’ as Reason for K–12 Learning Loss- Caden PearsonFlorida First Lady Casey DeSantis said the Biden administration failed to mention the “real reason” for the learning loss in K-12 public schools over the course of the COVID-19 pandemic.… [...]
- Mimi Nguyen LyRoy Cooper, the governor of North Carolina, signed an executive order on July 6 to continue enabling access to abortion in the state and shield people criminally charged with performing… [...]
- The Associated PressBURLINGTON, Vt.—The man charged with killing his mother at sea in a plot to inherit millions of dollars has asked a federal court Wednesday to authorize his release from custody… [...]
- The Associated PressMADISON, Wis.—A woman accused of killing a man can argue at trial that she was justified because he was sexually trafficking her, Wisconsin’s Supreme Court ruled Wednesday in a decision… [...]