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December 2, 2008 10:06:23 PM CST

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pension funds news stories

8 Stories

Companies Desperate to Roll Back Pension Support

A 2006 law requiring firms to replenish pension loses may be latest victim of meltdown

New York Times New York Times Nov 20, 08 9:50 AM CST
(Newser) - Wall Street’s meltdown has diminished the value of US pension funds by $250 billion and cash-strapped companies are asking lawmakers to give them relief from rules that require them to make up the losses, reports the New York Times . The rules, designed to strengthen the pension system in the US, were signed into law by President Bush in 2006. More »

More about:  Financial Crisis • Bush administration • Wall Street • Charles Grassley • pension funds

Crisis Drains $2T From Retirement Savings

Tumbling values may mean more workers have to stay on jobs longer, retire later

Washington Post Washington Post Oct 8, 08 10:31 AM CDT
(Newser) - The financial crisis has drained $2 trillion from Americans' retirement savings over the  past 15 months, reports the Washington Post , a 20% drop in the value of pensions and 401(k) plans that may force many to retire later and could spread to the general economy as workers tighten belts further. The decline has renewed debate about whether 401(k) plans, heavily linked to the market and heavily pushed by the government, are smart retirement investments. More »

More about:  Financial Crisis • stock market • workers • pension funds • retirement benefits • 401k

Tough Times Ground
Hedge Fund High-Fliers

Specialized investment industry dragged back to earth by shaky market

New York Times New York Times Sep 12, 08 12:41 PM CDT
(Newser) - The recent market turmoil has taken a good deal of the shine off of hedge funds, as managers are unable to reproduce their heretofore exemplary results in poor market conditions, the New York Times reports. The average hedge fund lost 4% this year, the worst overall results in the industry’s short history, and 2008 has seen some high-profile collapses. More »

More about:  credit market • hedge fund • finance • investment • investment bank • hedge funds • endowment • pension funds

Wall Street May Scoop Up Troubled Pension Plans

Businesses stand to benefit, but opponents worry about big guns' motives

BusinessWeek BusinessWeek Aug 6, 08 11:05 AM CDT
(Newser) - Though still smarting from the subprime debacle, some of the Wall Street’s biggest players are lobbying the government to be allowed to buy up and manage some of the $2.3 trillion in US corporate pension funds, BusinessWeek reports. Many businesses, eager to get the plans off their books, are backing the movement—but consumer advocates have reservations. More »

ANALYSIS

Social Responsibility Costs Calif. Pension Funds Billions

Keeping pension money out of tobacco, emerging markets has cost billions

BusinessWeek BusinessWeek Jul 15, 08 7:21 PM CDT
(Newser) - California's plan to put state pension funds in socially responsible investments means those funds are worth billions less than they would be if they'd been allowed to invest in tobacco companies and emerging markets, BusinessWeek reports. The initiative, launched in 2000, also pushed investment in California real estate—where the funds are on the hook for some big losses in a down market. More »

More about:  California • ethics • investing • investment • pension funds

Where's Oil Money Going? Maybe to Your Pension

Petroleum proceeds boost retirement funds

Washington Post Washington Post Jul 7, 08 2:12 PM CDT
(Newser) - Wall Street brokers and energy speculators aren’t the only ones lining their pockets thanks to skyrocketing oil prices, the Washington Post reports. Many pension funds have pushed heavily into commodities, bringing big returns in a time of economic strife. “Our commodity investment has really helped,” said the executive director of the Fairfax County, Va., pension fund, which has seen a 61% return. More »

More about:  oil price • commodities • pensions • pension funds • speculators

analysis

 Many Retirees
 Will Have
 Less Than
 They Think 

Economist compares direct-benefit to direct-contribution plans

Economist Economist Jun 16, 08 5:21 PM CDT
(Newser) - Many employees will enter retirement with a much smaller income than they expect, the Economist reports. By 2014, the amount of money saved in direct-contribution retirement plans—ie 401Ks—will outpace than the amount saved in old-fashioned direct-benefit plans. But workers set contributions to their DC schemes at lower levels than might have been set aside in DC schemes.  Add poor investment decisions, and many pensioners could end up with half the retirement income they would’ve drawn under DB. More »

More about:  hedge fund • retirement • investment • income • pensions • employers • pension funds

Oil Insanity Pinned to Speculators

Observers call current market 'hysteria' — and 'bubble'

Der Spiegel Der Spiegel Feb 28, 08 5:54 PM CST
(Newser) - Crude-oil prices have doubled in recent months, a development not linked to fundamental supply and demand—but rather, observers tell Der Spiegel , to rampant speculation among investors looking for a stable buck. The prospect of recession would typically drive prices down, but analysts say a decade-old oil investment rush by pension funds and big banks has made the market volatile and distorted. More »

More about:  recession • oil • crude oil • Morgan Stanley • OPEC • ExxonMobil • Persian Gulf • Deutsche Bank • New York Mercantile Exchange • speculation • pension funds

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