Latest news with #publicpension
Reuters
2 days ago
- Business
- Reuters
New York pension scheme weighs year-end review of asset allocation, FT reports
June 4 (Reuters) - New York City's public pension system is weighing an increase in its overseas investments at a review slated for the year-end due to rising uncertainty from U.S. policy changes, the pension scheme's investment chief told the Financial Times in an interview published on Wednesday. U.S. President Donald Trump's policies have taken investors on a rollercoaster ride over recent months since he took charge. In May, U.S. stocks recorded their biggest rally of any month since November 2023, but that was after global indexes had cratered under the barrage of Trump's tariff announcements through February, March and early April. International diversification was a "benefit to a portfolio . . . particularly coming off of a time when the U.S. has really outperformed and portfolios are so dominant in U.S. dollar assets," Steven Meier, chief investment officer for the New York City pension systems, told the FT. He added, however, that any asset allocation changes would be incremental and U.S. markets would continue to dominate the portfolio. The New York City pension systems, collectively the third-largest public pension plan in the U.S., last carried out a major asset allocation review in 2023, which was implemented last year, the report said. Such reviews are normally carried out every three to five years.
Associated Press
6 days ago
- Business
- Associated Press
Milliman analysis: Public pension funding stable in April after plans end volatile month with slight market gain
SEATTLE--(BUSINESS WIRE)--May 30, 2025-- Milliman, Inc., a premier global consulting and actuarial firm, today released the latest results of its Public Pension Funding Index (PPFI), which analyzes data from the nation's 100 largest public defined benefit plans. Despite April market swings caused by trade and tariff uncertainty, the Milliman 100 PPFI plans closed the month with estimated investment gains of 0.4% in aggregate. Individual plans' estimated returns ranged from -1.8% to 1.4%. Combined, the plans added about $24 billion in market value during the period, rising to $5.213 trillion as of April 30. Meanwhile, the deficit between plan assets and liabilities was unchanged since March at $1.340 trillion. The PPFI funded ratio rose from 79.5% as of March 31 to 79.6% as of April 30. 'After significant market fluctuations caused by trade policy announcements, it was somewhat surprising to see the public pension funded status inch upward during April,' said Becky Sielman, co-author of the Milliman PPFI. 'By the end of the month, 25 plans were still more than 90% funded and 12 plans were less than 60% funded, the same breakdown observed in March—demonstrating that public pensions are well-positioned to withstand turbulent markets.' Read this month's complete Public Pension Funding Index or Milliman's full range of annual Pension Funding Studies. To receive regular updates of Milliman's pension funding analysis, contact us at [email protected]. About Milliman Milliman leverages deep expertise, actuarial rigor, and advanced technology to develop solutions for a world at risk. We help clients in the public and private sectors navigate urgent, complex challenges—from extreme weather and market volatility to financial insecurity and rising health costs—so they can meet their business, financial, and social objectives. Our solutions encompass insurance, financial services, healthcare, life sciences, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. Visit us at View source version on CONTACT: Becky Sielman Milliman, Inc. Tel: +1 860 687 0125 [email protected] KEYWORD: WASHINGTON UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: FINANCE CONSULTING PROFESSIONAL SERVICES INSURANCE HUMAN RESOURCES SOURCE: Milliman, Inc. Copyright Business Wire 2025. PUB: 05/30/2025 11:14 AM/DISC: 05/30/2025 11:13 AM
Times
21-05-2025
- Business
- Times
Should public sector pensions be less generous?
A saver would need to put away £10,500 a year for 46 years to get the £72,000-a-year retirement income that comes with the best government jobs. But salaries in the public sector tend to be much less generous compared with the private sector. So would it be fair to cut back on those generous public pension schemes? We hear two opposing views. Tom McPhail, an independent pension expert Yes of course they should, for three reasons. First, we can't afford to keep paying it at the level we are. In fact, there are a lot of things we can't afford, but, like drunken lottery winners, we keep spending money on. The UK's budget deficit this year is about £130 billion; that's on top of the
