Magazine Articles

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Homes Away from Home

Cautiously, US pension funds are beginning to invest in overseas real estate. Most favor commingled funds, and the UK is the most popular market thus far.
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Hunting for Returns

The Illinois Teachers fund juggles three distinct overlay strategies to control its currency exposure and minimize downside on its stocks and bonds.
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Taming OTC Derivatives

Washington is abuzz with talk of how to prevent more OTC derivatives disasters. But for pension sponsors, the key may be to get a better understanding of this...
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Plan Sponsor 1994 Global Custody Survey

State Street and Chase take the top spots in the 1994 survey of global custody services. Meanwhile, a select group of European providers appear to be catching up...
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LACERA Gets Aggressive

Los Angeles County employees hope that a pension obligation bond, plus a more aggressive asset allocation strategy, will bring financial health to their plan.
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The End of the Line

CALPERS is looking at slimming down its weighty RFP questionnaires and relaxing aspects of its screening process.
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Going to the Voters

Public pension issues will be debated in several key state races this fall.
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Daily Valuation Dilemma

Daily valuation is now wildly popular. Some some worry that it raises costs, adds new recordkeeping stresses, and, possibly, harms investment performance.
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A Wider Gateway

New IRS regulations are intended to make it easier for employers to provide different benefits packages for separate lines of business. Yet significant problems still exist, critics say.
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Mixed Reviews

Twenty years after ERISA's passage, the US private pension system is very different from what the law's framers imagined. If its central element-the defined benefit plan-is to be...
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A Legislative Draftsman’s Perspective

ERISA succeeded in accomplishing its chief objectives, says one of its authors. But times have changed, and a great debate about the future of private pension development is...
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The Employers Changing Role

The accent is on self-reliance as employers large and small are rethinking their old paternalistic role, including the firmness of their commitment to providing retirement benefits, says EBRI's...
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Preemption Taken to the Extreme

ERISA allows the states to enact laws in certain areas that are important to multi-employer plans. But these are being seriously threatened by courts that interpret ERISA's preemption...
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Hydro’s Shake-Up

Faced with a budget crunch and rising employee benefit liabilities, Ontario Hydro has turned to one of Bay Street's biggest money managers to carry out a sweeping reorganization...
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Budapest to Bay Street

A skeptic of government promises, Andrew Sarlos is now charged with preserving and extending such promises to some 18,000 Ontario public utility workers.