IBM to take $2.7 billion charge related to transfer of pension obligations – Yahoo Finance
(Reuters) – IBM Inc said on Wednesday it expects a pretax charge of about $2.7 billion in the third quarter related to a transaction to transfer some of its pension plan liabilities to Prudential Financial Inc. The transaction will transfer approximately $6 billion of IBM's defined benefit pension obligations to Prudential Insurance Company. Defined benefit […]
Keir Starmer faces PMQs as leaked Treasury figures suggest state pension to rise by more than £400 next year – UK politics live | Politics
Main Events Show only important events Please enable JavaScript to use this feature How Kemi Badenoch defended removing winter fuel payments from wealthy pensioners If Keir Starmer is asked at Prime Minister's Questions about Labour's plans for income capping the winter fuel allowance, he might be happy to quote K.Emi BadenochThe front-runner in the Conservative […]
NY pension fund bought $75M CrowdStrike stake before IT meltdown
A New York state pension fund is facing nearly $30 million in losses after buying CrowdStrike shares just before the tech company caused a global network outage and sent its stock price plummeting. The New York State Teachers Retirement System (NYSTRS) bought 197,462 shares of the Austin-based cybersecurity company in the second quarter of this […]
Minnesota teacher pension fund under Walz accused of ‘cooking the books’ with unrealistic gains: report
A leading pension investigator alleges that Minnesota’s public school teachers’ retirement system, under the direction of Gov. Tim Walz (recently named by Vice President Kamala Harris as her running mate), has manipulated financial reports by grossly understating the annual fees it pays to Wall Street investment managers and showing unrealistically high rates of return. New […]
Teachers’ Minn. pension fund under Tim Walz ‘cooking the books’ by vastly underreporting fees: ‘Madoff miracle’ – New York Post
Minnesota Gov. Tim Walz’s public school teachers’ retirement system “falsified the books” by dramatically under-reporting the annual fees it paid to Wall Street investment managers, posting nearly impossible gains that rivaled the “Madoff miracle,” a top pension investigator said. The state Teachers Retirement Association has disclosed less than 10 percent of the estimated $2.9 billion […]
NY clerk who swindled more than $1.1M from village forced to give up pension
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NY clerk accused of swiping $1M from village forced to give up pension in first-of-its-kind decision
An upstate New York village clerk accused of embezzling more than $1 million — roughly the town’s annual budget — will have to give up his pension in New York state’s historic pension forfeiture case. Disgraced former Addison employee Ursula Stone, 55, who allegedly stole $1,171,362 in village funds over at least 19 years, has […]
France’s far right may work with far left to torpedo Macron’s detested pension reform – POLITICO Europe
Speaking on BFM TV, Laurent Jacobelli, a lawmaker and spokesman for the far-right National Rally party, said his party supported the bill. [National Rally’s] program.” Mathilde Pannot of France Unboud said she was confident the bill would pass. “In the last parliament there was already a majority that rejected the retirement age at 64, but […]
Chaos continues with Ohio teachers’ pension fund as second advisor quits – News 5 Cleveland WEWS
COLUMBUS, Ohio — A second major consulting group has stopped working with Ohio’s controversial retired teachers pension fund, dealing another blow to a system already in turmoil. Unrest is growing at the State Teachers Retirement System (STRS). STRS has been mired in controversy: to summarise, there have been constant infighting, two board resignations, and allegations […]
Boston retirees making bank: Nearly 200 receive $10K or more in monthly pension – Boston Herald
Boston Police Department alumni make up two of the city’s top three pension recipients. Sergeant Winifred Cotter, left, in 2014, and Police Commissioner William Gross, right, in 2021. (File photo composite/Boston Herald) Winifred Cotter, a Boston police sergeant who served as a chauffeur for her cousin, former Mayor Marty Walsh, has the highest pension among […]