July 1993

A New Slate

PBGC head seeks balanced solution for underfunding

Case closed

A Supreme Court decision sends a warning to companies in multiemployer plans.

Michigan’s Energy Bet

Michigan Treasury's pension fund chooses Energy Investors Management II for its first energy-related holding.

When The Cheering Stops

Professional athletes are turning more attention than ever to post-retirement benefits. But the game moves much faster in some sports than in others.

Ice Follies

Hockey's messy dispute over monies removed from its retirement fund is in appeals court. Game two begins this fall.

Beyond the Big Purse

Non-team sports, too, are making progress in the pension area. But they face a different set of challenges.

Quebec’s Heavyweight

Often regarded as the Canadian market's 500-pound gorilla, the Caisse de depot has emerged as a major global investor. In the process, it hopes to set a place for Quebec at the global economic table.

Global Player

The Caisse is an unabashed activist investor with global ambitions, chairman Delorme explains.

Every Sponsor Needs One

Since widening its mandate to include global markets, the Caisse's tactical asset allocation fund has taken off

Desperately Seeking Safe Harbor

404(c) now gives defined contribution plan sponsors limited safeguards against lawsuits by beneficiaries. But compliance standards are vague, and no one knows just how far the protections extend.

School’s In

Employee sophistication is a big concern for plans that want to qualify for 404(c) protection. Some are exploring more than one route to bring their participants up to speed.

One Big Pension Fund

Some leading multinationals are finding ways to consolidate their North American and foreign pensions.

Last Act for the RTC

Washington is bent on cleaning out its inventory of real estate from distressed S&Ls within the next two years. But pensions should kick the tires before buying.

The Vulture Has Landed

The once-torrid vulture fund market has matured. But a number of factors are keeping big investors interested.

Green Thumb

With the environment again a hot topic, some public pensions are exploring ways to make environmentally correct investments.

This Old House

A slew of ambitious housing and urban development projects are attracting the attention of public pension funds.

The Case for Marketing Reps

A new industry has grown up to serve investment managers seeking tax-exempt business. How well they serve plan sponsors is another question.

Someone to Take Charge

The naming of Olena Berg as the top US pension regulator Could add a new, experienced voice to the debate over economically targeted investing.

Sending It Out of House

Many 401(k) sponsors are finding ways to outsource part of the plan. Winn-Dixie Stores, going one step further has outsourced the whole thing.

Making a Play for the Payout

The Mutual Benefit fiasco, now winding to a Close, provides some valuable tips for GIG holders on how to protect their interests in a rehabilitation.

Repo Men

Repurchase agreements have emerged as the overnight investment vehicle of choice for many pension managers.

Mind Control

Use of mental health care benefits is rising fast. Corporations are starting to worry about the effect on post-retirement costs.

The Portability Problem

Beset by FAS 106 obligations, corporate benefit plans could use more help from their employees with funding. But without health benefit portability this may be hard to come by.

Work In Progress

The Common Fund is trying to boost performance by College and university endowments in some new ways-through education, and by promoting global investing.

Team Work

Activist pension funds have some powerful new allies in unions like the Teamsters.

Northern Revolt

Taking a cue from their US Counterparts, Canadian public pension sponsors are learning to be shareholder activists.

Free Lunch Still Served

Amid a market that refuses to recover some Japanese pension funds are getting tough with their brokers and investment managers. But the network of cozy relationships is a long way from dead.

The Numbers Game

Fixed-income analytics afford pension sponsors a more sophisticated knowledge of their portfolios. But few are ready to move up the curve.

Measurement Wars

Pension funds in search of improved performance measurement products now have new providers custodians. But the traditional providers, consultants, are fighting back.

Armchair Traveler

McGill University is one of a growing group of Canadian pension sponsors which use derivatives to increase their overseas market exposures

Don’t Ignore Political Risk In Developed Markets

When institutional investors speak of political risk, they almost always have in mind the emerging markets of Asia, Latin America, Eastern and Southern Europe, the Middle East, and Africa.

Dora Romero, age 71

Retired office worker, Mountain Bell, Annual Pension: $5,592