Pension fund

MONDAY (2/12): Teamsters, California Elected Officials to Reintroduce Autonomous Vehicle Human Operator Bill

Retrieved on: 
Friday, February 9, 2024
Steps, International Brotherhood of Teamsters, Justice, Public utilities commission, Safety, Multimedia, Assembly, Legislation, CPUC, Waymo, Pension fund

SACRAMENTO, Calif., Feb. 9, 2024 /PRNewswire/ -- To protect public safety and good jobs, the Teamsters and California lawmakers will announce the reintroduction of the autonomous vehicle (AV) human operator bill at a rally on Monday, February 12, at 2pm PT. AB 2286, formerly Assembly Bill 316, requires a trained human operator behind the wheel of self-driving trucks weighing more than 10,000 pounds, putting safety first while preserving hundreds of thousands of good-paying trucking jobs. AB 316 was first introduced by Assemblymember Cecilia Aguiar-Curry (D-Winters) in January 2023 and received overwhelming bipartisan support in the legislature, with more than 90 percent of the California lawmakers voting in favor of the legislation.

Key Points: 
  • SACRAMENTO, Calif., Feb. 9, 2024 /PRNewswire/ -- To protect public safety and good jobs, the Teamsters and California lawmakers will announce the reintroduction of the autonomous vehicle (AV) human operator bill at a rally on Monday, February 12, at 2pm PT.
  • AB 2286, formerly Assembly Bill 316, requires a trained human operator behind the wheel of self-driving trucks weighing more than 10,000 pounds, putting safety first while preserving hundreds of thousands of good-paying trucking jobs.
  • Earlier this month, the Teamsters held a rally to announce the introduction of SB 915, a bill that would give California's local municipalities more authority over AV regulation.
  • The growing statewide support for AV safety measures comes as Waymo seeks to expand its robotaxi operations in California .

ILLINOIS DEPARTMENT OF TRANSPORTATION TEAMSTERS AUTHORIZE STRIKE

Retrieved on: 
Thursday, February 8, 2024
International Brotherhood of Teamsters, Local, IDOT, Joint, Pension fund

SPRINGFIELD, Ill., Feb. 8, 2024 /PRNewswire/ -- Teamsters at the Illinois Department of Transportation (IDOT) have voted by an overwhelming 95 percent to authorize a strike. The 3,800 workers are represented by Teamsters Locals 26, 50, 371, 525, 627, 705, 722, and 916.

Key Points: 
  • SPRINGFIELD, Ill., Feb. 8, 2024 /PRNewswire/ -- Teamsters at the Illinois Department of Transportation (IDOT) have voted by an overwhelming 95 percent to authorize a strike.
  • The 3,800 workers are represented by Teamsters Locals 26, 50, 371, 525, 627, 705, 722, and 916.
  • The strike authorization vote comes after months of negotiations with the state of Illinois for a new contract.
  • Teamsters Joint Council 25 represents more than 100,000 workers at 25 local union affiliates in Chicago, Illinois, and Northwest Indiana.

OSFI releases new Supervisory Framework to modernize financial supervision

Retrieved on: 
Thursday, February 8, 2024
Organization, Framework, Risk assessment, Risk, Financial institution, Benchmarking, Superintendent, OSFI, Pension fund

OTTAWA, ON, Feb. 8, 2024 /CNW/ - Today, the Office of the Superintendent of Financial Institutions (OSFI) released its new framework for supervision.

Key Points: 
  • OTTAWA, ON, Feb. 8, 2024 /CNW/ - Today, the Office of the Superintendent of Financial Institutions (OSFI) released its new framework for supervision.
  • The Framework will guide OSFI's supervision of federally regulated financial institutions and private pension plans.
  • The new framework is the most significant change to OSFI's supervisory approach in 25 years.
  • "We are launching a new supervisory framework on April 1, 2024, to ensure a faster, more effective response to critical risks faced by federally regulated financial institutions and private pension plans.

WORKERS AT RIDWELL VOTE UNANIMOUSLY TO JOIN TEAMSTERS

Retrieved on: 
Wednesday, February 7, 2024
International Brotherhood of Teamsters, Municipal solid waste, Local, Recycling, Negotiation, Human, Pension fund

SAINT PAUL, Minn., Feb. 7, 2024 /PRNewswire/ -- Workers at Ridwell have voted unanimously to join Teamsters Local 120. The drivers and warehouse workers united to advocate for their rights and improve pay, benefits, and working conditions. This is the third group of workers to join the Teamsters at Ridwell.

Key Points: 
  • SAINT PAUL, Minn., Feb. 7, 2024 /PRNewswire/ -- Workers at Ridwell have voted unanimously to join Teamsters Local 120.
  • This is the third group of workers to join the Teamsters at Ridwell.
  • "Our entire union congratulates these workers for becoming Teamsters and welcomes them to Local 120," said Tom Erickson, President of Local 120 and Teamsters Central Region International Vice President.
  • Last year, the Teamsters Solid Waste and Recycling Division, with assistance from Teamsters Local 117, secured a verbal neutrality agreement with the company.

Milliman analysis: Corporate pension funded status climbs to 103.1% at end of January

Retrieved on: 
Wednesday, February 7, 2024
Professional Services, Data Analytics, Insurance, Human Resources, Finance, Consulting, Milliman, PFI, Movement, Pension fund

Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Milliman 100 Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans.

Key Points: 
  • Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Milliman 100 Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans.
  • During January, the Milliman 100 PFI funding ratio rose from 102.1% at the end of December to 103.1% as of January 31.
  • A return to rising discount rates—this month by 14 basis points, to 5.14%—fueled this result and drove plan liabilities down from $1.337 trillion at the end of December to $1.316 trillion at the end of January.
  • Under a pessimistic forecast (4.59% discount rate at the end of 2024 and 3.99% by the end of 2025 and 1.8% annual returns), the funded ratio would decline to 95% by the end of 2024 and 86% by the end of 2025.

StepStone Group Announces 2024 Partner and Managing Director Promotions

Retrieved on: 
Thursday, February 1, 2024
Portfolio management, Consumer, Wealth, Private equity, Venture capital, NeXT, Pension fund

NEW YORK, Feb. 01, 2024 (GLOBE NEWSWIRE) -- StepStone Group Inc. (Nasdaq: STEP), a global private markets investment firm focused on providing customized investment solutions and advisory and data services, has named 8 new partners and 18 new managing directors.

Key Points: 
  • NEW YORK, Feb. 01, 2024 (GLOBE NEWSWIRE) -- StepStone Group Inc. (Nasdaq: STEP), a global private markets investment firm focused on providing customized investment solutions and advisory and data services, has named 8 new partners and 18 new managing directors.
  • Congratulations to all.”
    David Allen joined StepStone in 2021 and is based in Dublin.
  • He is CEO of StepStone’s EU Alternative Investment Fund Manager (AIFM) and a member of the Private Debt team.
  • Lisa Larsson joined StepStone in 2017 and is based in New York.

Social Security Commissioner Martin O'Malley and U.S. Senator Bill Cassidy to Deliver Keynote Remarks at the National Institute on Retirement Security Retirement Policy Conference

Retrieved on: 
Thursday, February 1, 2024
Multimedia, Commissioner, Policy, Park Hyatt Washington, Social, NIRS, Uncertainty, Retirement, Social Security, Work, New economy, Public policy, Pension, Conference, Organization, Pension fund

WASHINGTON, Feb. 1, 2024 /PRNewswire/ -- The National Institute on Retirement Security (NIRS) will hold its 15th Annual Retirement Policy Conference on Tuesday, February 27, 2024, in Washington, D.C. At this event, retirement experts and leaders will discuss key retirement policy challenges and opportunities, including efforts to strengthen Social Security and improve employee retirement benefits. The event also will feature a new national poll detailing Americans' views on retirement.

Key Points: 
  • The event also will feature a new national poll detailing Americans' views on retirement.
  • Uniting for the Future: Accelerating Retirement Policy Progress will be held at The Park Hyatt Washington , located at 1201 24th Street N.W., in Washington, D.C.
  • What: 15th Annual Retirement Policy Conference | Uniting for the Future: Accelerating Retirement Policy Progress
    Location: The Park Hyatt Washington | 1201 24th Street N.W., Washington, D.C.
  • The National Institute on Retirement Security is a not-for-profit organization established to contribute to informed policymaking by fostering a deep understanding of the value of retirement security to employees, employers, and the economy through national research and education programs.

RBC Wealth Management survey: Retirement worries intensify as planning and saving get more complex

Retrieved on: 
Thursday, February 1, 2024
Investment, Retirement, Pension, Social Security, Royal Bank of Canada, Tax, Social, RBC, Pension fund

Knowing that they can't solely rely on pensions and Social Security to cover every-day expenses, for this generation creating reliable income in retirement or a 'retirement paycheck' is also an important consideration.

Key Points: 
  • Knowing that they can't solely rely on pensions and Social Security to cover every-day expenses, for this generation creating reliable income in retirement or a 'retirement paycheck' is also an important consideration.
  • The survey also shows an increase of concerns around market volatility, dying early and leaving a legacy when compared to RBC Wealth Management's last survey from 2018.
  • To help meet this need, RBC Wealth Management created a guide for creating a paycheck in retirement and a new Retirement Paycheck tool for financial advisors to provide clients with a simple snapshot of their retirement income.
  • It simplifies the question of 'How am I going to live in retirement?'"

Sonata Software: International Services delivered Industry leading Dollar revenue growth; up 3.5% QoQ (38.3% YoY); Domestic business delivered strong Gross contribution growth of 14.2% QoQ (25.8% YoY) in INR

Retrieved on: 
Thursday, February 1, 2024
Growth, DSO, ICSI, Quarter, BFSI, International, MD, USD, Digital, Workplace, INR, SSNA, Management, Microsoft, TTH, PAT, Quant, Acquisition, Yoy, Health care, TMT, Pension fund

The Company has re-measured the fair value of the contingent consideration payable to be USD 105.42 mn (INR 87,719 Lakhs), thereby an increase of USD 17.12 mn (INR 14,244 Lakhs).

Key Points: 
  • The Company has re-measured the fair value of the contingent consideration payable to be USD 105.42 mn (INR 87,719 Lakhs), thereby an increase of USD 17.12 mn (INR 14,244 Lakhs).
  • Our International services Revenue in USD terms grew 3.5% QoQ and Domestic Gross contribution grew by 14.2% QoQ.
  • Performance Highlights for the quarter:
    Revenues at ₹ 2,493.4 crores; QoQ growth of 30%
    EBITDA at ₹ 227.2 crores; QoQ growth of 3%
    PAT before exceptional item stood at ₹ 128.5 Crores; QoQ growth of 3%.
  • Revenues at ₹ 1,800.3 crores; QoQ growth of 45%
    EBITDA at ₹ 59.2 crores; QoQ growth of 5%
    PAT at ₹ 42.6 crores; QoQ growth of 5%
    DSO at 36 days (Q2'24: 35 days).

Sonata Software: International Services delivered Industry leading Dollar revenue growth; up 3.5% QoQ (38.3% YoY); Domestic business delivered strong Gross contribution growth of 14.2% QoQ (25.8% YoY) in INR

Retrieved on: 
Thursday, February 1, 2024
Growth, DSO, ICSI, Quarter, BFSI, International, MD, USD, Digital, Workplace, INR, SSNA, Management, Microsoft, TTH, PAT, Quant, Acquisition, Yoy, Health care, TMT, Pension fund

The Company has re-measured the fair value of the contingent consideration payable to be USD 105.42 mn (INR 87,719 Lakhs), thereby an increase of USD 17.12 mn (INR 14,244 Lakhs).

Key Points: 
  • The Company has re-measured the fair value of the contingent consideration payable to be USD 105.42 mn (INR 87,719 Lakhs), thereby an increase of USD 17.12 mn (INR 14,244 Lakhs).
  • Our International services Revenue in USD terms grew 3.5% QoQ and Domestic Gross contribution grew by 14.2% QoQ.
  • Performance Highlights for the quarter:
    Revenues at ₹ 2,493.4 crores; QoQ growth of 30%
    EBITDA at ₹ 227.2 crores; QoQ growth of 3%
    PAT before exceptional item stood at ₹ 128.5 Crores; QoQ growth of 3%.
  • Revenues at ₹ 1,800.3 crores; QoQ growth of 45%
    EBITDA at ₹ 59.2 crores; QoQ growth of 5%
    PAT at ₹ 42.6 crores; QoQ growth of 5%
    DSO at 36 days (Q2'24: 35 days).