Pension fund

Global Infrastructure Partners Announces Total $2.1 Billion Final Closing of Its Inaugural Emerging Markets Fund

Retrieved on: 
Tuesday, March 5, 2024
Banking, Asset Management, Professional Services, Finance, Market, Investment, Emerging market, GIP, Global Infrastructure Partners, Fund, Insurance, Pension fund

Global Infrastructure Partners (GIP), a leading infrastructure investor, announced today that GIP Emerging Markets Fund I (“GIP EM” or “the Fund”) has completed fundraising for aggregate committed capital of more than $2.1 billion.

Key Points: 
  • Global Infrastructure Partners (GIP), a leading infrastructure investor, announced today that GIP Emerging Markets Fund I (“GIP EM” or “the Fund”) has completed fundraising for aggregate committed capital of more than $2.1 billion.
  • The Fund garnered significant support from GIP’s existing investor base while also attracting new investors with a specific interest in emerging markets infrastructure.
  • GIP Emerging Markets Fund I is a dedicated emerging markets-focused fund that extends GIP’s Flagship equity strategy to opportunities in 11 Target Countries in Asia and Latin America.
  • “We are extremely gratified by the confidence that EM Fund investors have placed in us,” said James Amine, GIP Partner and Head of Emerging Markets.

Border To Coast Pensions Partnership Limited Reappoints Northern Trust as its Asset Servicing Provider

Retrieved on: 
Thursday, February 29, 2024
Finance, Consulting, Banking, Professional Services, Asset Management, Investment, Growth, Retirement, Partner, Trust, Local Government Pension Scheme, NTRS, Insurance, Partnership, Pension fund

Northern Trust (Nasdaq: NTRS) today announced it has been re-appointed by Border To Coast Pensions Partnership Limited (Border To Coast) to provide a range of asset servicing solutions spanning fund administration, custody, brokerage, securities lending and depositary services.

Key Points: 
  • Northern Trust (Nasdaq: NTRS) today announced it has been re-appointed by Border To Coast Pensions Partnership Limited (Border To Coast) to provide a range of asset servicing solutions spanning fund administration, custody, brokerage, securities lending and depositary services.
  • Established as a regulated asset manager in 2018, Border To Coast has grown to be one of the largest pension pools in the United Kingdom.
  • Fiona Miller, Deputy Chief Executive Officer at Border To Coast Pensions Partnership Limited comments: “Northern Trust has been instrumental in supporting our growth through the extension of services into more innovative asset classes, and continues to deliver change whilst maintaining high integrity on daily delivery.
  • “This reappointment underscores our unwavering commitment to the LGPS sector and the wider UK retirement industry.

INMD INVESTOR NOTICE: Robbins Geller Rudman & Dowd LLP Announces that InMode Ltd. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

Retrieved on: 
Monday, February 26, 2024
Class Action Lawsuit, Professional Services, Legal, Complaint, FDA, News, Food, Food and Drug Administration, Pension fund, Tobacco

), the InMode class action lawsuit charges InMode as well as certain of InMode’s top executives with violations of the Securities Exchange Act of 1934.

Key Points: 
  • ), the InMode class action lawsuit charges InMode as well as certain of InMode’s top executives with violations of the Securities Exchange Act of 1934.
  • Lead plaintiff motions for the InMode class action lawsuit must be filed with the court no later than April 15, 2024.
  • A lead plaintiff acts on behalf of all other class members in directing the InMode class action lawsuit.
  • An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the InMode class action lawsuit.

Milliman analysis: Multiemployer pension funding at 89% in aggregate at year-end 2023

Retrieved on: 
Wednesday, February 21, 2024
Finance, Consulting, Business, Professional Services, Insurance, Milliman, MPFS, Pension fund

Milliman, Inc., a premier global consulting and actuarial firm, today released the 2023 year-end results of its Multiemployer Pension Funding Study (MPFS), which analyzes the funded status of all multiemployer defined benefit pension plans in the United States, based on data and assumptions from these plans’ latest Form 5500 filings.

Key Points: 
  • Milliman, Inc., a premier global consulting and actuarial firm, today released the 2023 year-end results of its Multiemployer Pension Funding Study (MPFS), which analyzes the funded status of all multiemployer defined benefit pension plans in the United States, based on data and assumptions from these plans’ latest Form 5500 filings.
  • As of December 31, 2023, Milliman estimates that the aggregate funded percentage of all multiemployer plans hit 89%, up from 79% a year prior.
  • As of year-end 2023, 69 plans in total have received nearly $54 billion in SFA funding, including $45 billion paid during 2023.
  • To receive regular updates of Milliman’s pension funding analysis, contact us at [email protected] .

Record Breaking Global PRT Market Activity Seen in 2023, Totaling Over $105 Billion in UK and US

Retrieved on: 
Monday, February 19, 2024
Professional Services, Other Professional Services, Insurance, Finance, Asset Management, Consulting, Transfer, Legal & General, PRT, Growth, Retirement, Monitor, Appetite, Pension fund

The Monitor, which analyzes industry trends and market outlooks, showed an estimated £50 billion of pension liabilities were secured with insurers in the UK and $45 billion in the US.

Key Points: 
  • The Monitor, which analyzes industry trends and market outlooks, showed an estimated £50 billion of pension liabilities were secured with insurers in the UK and $45 billion in the US.
  • The Boots Pension Scheme , another Legal & General transaction, plus two pension schemes of the RSA Group constituted the largest ever single and overall transactions, respectively.
  • Five transactions of over £2.5 billion were announced compared to just one the previous year and only ten others between 2014 and 2022.
  • In the UK alone, annualized volumes are projected to settle in the region of £50-60 billion, a significant increase from the average of £31 billion seen in the five years prior to 2023.

National Institute on Retirement Security Finds Changes to Rhode Island Public Employee Retirement Benefits Are Contributing to Employee Attrition

Retrieved on: 
Thursday, March 7, 2024
Retirement, COVID-19, Multimedia, Pension, Public sector, NIRS, Retention, Firefighter, Employment, Workforce, Research, Pension fund

WASHINGTON, March 7, 2024 /PRNewswire/ -- A new report from the National Institute on Retirement Security ( NIRS ) finds shifting employees in the Employees' Retirement System of Rhode Island ( ERSRI ) from defined benefit pensions in 2012 to a hybrid retirement plan is causing demonstrable changes in public employee attrition.

Key Points: 
  • WASHINGTON, March 7, 2024 /PRNewswire/ -- A new report from the National Institute on Retirement Security ( NIRS ) finds shifting employees in the Employees' Retirement System of Rhode Island ( ERSRI ) from defined benefit pensions in 2012 to a hybrid retirement plan is causing demonstrable changes in public employee attrition.
  • These findings are contained in a new report, Employees' Retirement System Of Rhode Island: Examination Of Turnover Trends Since Retirement Reforms.
  • Both situations seem to confirm the impact of changing retirement benefits in worker attrition," Doonan said.
  • Located in Washington, D.C., NIRS membership includes financial services firms, employee benefit plans, trade associations, and other retirement service providers.

PRESIDENT JOE BIDEN TO ATTEND TEAMSTERS RANK-AND-FILE PRESIDENTIAL ROUNDTABLE

Retrieved on: 
Tuesday, February 27, 2024
Freedom, International Brotherhood of Teamsters, Asa Hutchinson, American Red Cross, UPS, Law enforcement, Pension fund

WASHINGTON, Feb. 27, 2024 /PRNewswire/ -- The International Brotherhood of Teamsters will host a rank-and-file Presidential roundtable with President Joe Biden on Tuesday, March 12, at the union's headquarters in Washington, D.C. President Biden has committed to meet with union members, the Teamsters General Executive Board, General President Sean M. O'Brien, and General Secretary-Treasurer Fred Zuckerman.

Key Points: 
  • Biden Meeting with Teamsters, Leadership on March 12 in Washington, D.C.
    WASHINGTON, Feb. 27, 2024 /PRNewswire/ -- The International Brotherhood of Teamsters will host a rank-and-file Presidential roundtable with President Joe Biden on Tuesday, March 12, at the union's headquarters in Washington, D.C. President Biden has committed to meet with union members, the Teamsters General Executive Board, General President Sean M. O'Brien, and General Secretary-Treasurer Fred Zuckerman.
  • "We realize that President Biden's time is limited and we appreciate that he is making it a priority to meet with Teamsters.
  • In December, the Teamsters invited all declared candidates for U.S. President to participate individually in roundtables to discuss issues important to rank-and-file Teamsters and their families.
  • Founded in 1903, the International Brotherhood of Teamsters represents 1.3 million hardworking people in the U.S., Canada, and Puerto Rico.

83 Percent of Americans Believe All Workers Should Have a Pension, New National Institute on Retirement Security Report Finds

Retrieved on: 
Tuesday, February 27, 2024
Nation, Retirement, American Dream, Multimedia, Pension, IBM, Social, Government, Cooking, Nursing, NIRS, Social Security, Doonan, Policy, Congress, Housing, Research, Pension fund

WASHINGTON, Feb. 27, 2024 /PRNewswire/ -- Americans are increasingly worried about retirement, and they see a return to pensions as a way to restore the American Dream of retirement, according to new research from the National Institute on Retirement Security (NIRS).

Key Points: 
  • 83% of Americans say all workers should have a pension so they can be independent and self-reliant in retirement.
  • More than half of Americans (55 percent) are concerned that they cannot achieve financial security in retirement.
  • These findings are detailed in a new report from the National Institute on Retirement Security ( NIRS ), Retirement Insecurity 2024: Americans' Views of Retirement.
  • The report findings are based upon a national survey of working age Americans conducted by Greenwald Research .

ST. LOUIS TEAMSTERS ON STRIKE AT GRAYBAR

Retrieved on: 
Monday, February 26, 2024
Behavior, Local, Workforce, International Brotherhood of Teamsters, Pension fund

ST. LOUIS, Feb. 26, 2024 /PRNewswire/ -- Members of Teamsters Local 688 at Graybar in St. Louis were forced to strike today after rejecting the company's subpar contract offer over the weekend.

Key Points: 
  • ST. LOUIS, Feb. 26, 2024 /PRNewswire/ -- Members of Teamsters Local 688 at Graybar in St. Louis were forced to strike today after rejecting the company's subpar contract offer over the weekend.
  • Teamsters at Graybar contribute significantly to the company's $10.5 billion revenue but are excluded from the company's profit-sharing program.
  • "The financial burden on these workers is unreasonable, unfair, and unsustainable," said Tom Erickson, Director of the Teamsters Warehouse Division.
  • Founded in 1903, the International Brotherhood of Teamsters represents 1.3 million hardworking people in the U.S., Canada, and Puerto Rico.

COLORADO TEAMSTERS APPLAUD INTRODUCTION OF WORKER FREEDOM ACT

Retrieved on: 
Monday, February 26, 2024
Hearing, International Brotherhood of Teamsters, Rocky Mountains, Fear, Legislation, Environment, Pension fund

DENVER, Feb. 26, 2024 /PRNewswire/ -- The Teamsters applaud the introduction of Colorado House Bill 24-1260, The Worker Freedom Act. This critical legislation seeks to enhance workers' rights by outlawing employers from forcing workers to attend captive audience meetings.

Key Points: 
  • DENVER, Feb. 26, 2024 /PRNewswire/ -- The Teamsters applaud the introduction of Colorado House Bill 24-1260, The Worker Freedom Act.
  • The introduction of The Worker Freedom Act represents a significant stride toward safeguarding workers' rights and fostering an environment of fair labor practices in the state of Colorado.
  • "The Worker Freedom Act is crucial to ensuring that workers across Colorado can exercise their rights without fear of reprisal," said Dean Modecker, Secretary-Treasurer of Teamsters Local 455.
  • The bill has been assigned to the Colorado House Business Affairs & Labor Committee and is currently awaiting a hearing.