Some states’ moves to create their own fiduciary rules aren’t playing so well with members of the financial community, who would prefer the U.S. Securities and Exchange Commission craft investment adviser standards.
Employees of iron ore giant Cleveland-Cliffs will see average raises of 15 percent over four years under a contract ratified Oct. 11, a United Steelworkers spokesperson said.
The Teamsters Local 805 Pension and Retirement Plan could become the fourth fund this year to cut benefits, pending a vote from its members.
Business owners who take part in their company’s pensions will see a shorter wait time for their own benefits when a plan terminates under the federal pension insurer’s updated guidelines.
The 8.3 million federal employees, retirees, and their family members will see their health insurance premiums rise an average of 1.5 percent in 2019, the lowest increase since 1995, the Office of Personnel Management said Sept. 26.
Public pensions are addressing whether to incorporate climate change-related issues—as socially responsible investing surges globally—as their fiduciaries seek to make the best, most-profitable investments.
A Chicago proposal could end all private prison investments by the city’s pensions.