Insights and Implications of the GameStop Short

On January 27, 2021, members of a subreddit called r/WallStreetBets– an online forum group of over 2 million amateur investors, initiated a historic and unusual event in the marketplace: a short squeeze that caused major losses for short sellers and hedge funds. One of the hedge funds most impacted and was bailed out by Point72 […]

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Cryptocurrency: The Future of Pension Funds?

In a break from usual conservative investment patterns, pension funds are now considering cryptocurrency as an asset class. Interest in digital assets is growing among institutional investors––with the crypto market maturing in the previous two years, it would seem that interest is at a peak.  Bitcoin continues to be the digital asset of choice, for […]

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Boston Mayor Marty Walsh Tapped to Lead Department of Labor

Continuing with his anticipated array of high-profile appointments, President Biden has tapped Boston Mayor Marty Walsh to serve as Secretary of Labor in the new administration. Serving as Mayor since 2014, Walsh has established a proven track record of supporting workers across the income spectrum, fighting to raise the minimum wage in Boston, boost apprenticeship […]

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Gary Gensler Reportedly Picked to Run SEC in Biden Administration

With one week until the inauguration, and tumult and impeachment drawing most of the attention of those in Washington, President-Elect Biden has continued to staff out his administration. While current events have kept many of the potential appointments off the front page, these picks are telling of the priorities and policies that may come to […]

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Two Countervailing Forces: Public Pensions and Climate Change

Times are changing, and the American public is realizing its role in contributing to climate change. One of President-elect Biden’s policy issues is climate change, saying that “We’re going to invest $1.7 trillion in securing our future so that by 2050 the United States will be a 100% clean energy economy with net-zero emissions.”  Biden’s […]

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The Department of Labor ‘s New Rule is a Much-Needed Step Toward Ensuring Fiduciary Obligations

Today the Department of Labor took a much-needed step toward ensuring positive, long-overdue reforms to the role that proxy advisory firms play in ERISA-backed pension fund management through their finalized rule titled, “Fiduciary Duties Regarding Proxy Voting and Shareholder Rights.” . Following the rule’s release, Chris Burnham of the Institute for Pension Fund Integrity said, […]

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Illinois Pension Funding Crisis Looming, Tax Measure Failure Hurts Prospects

Illinois’ pension crisis has hit a breaking point. The state’s pension liability was $230 billion in 2019 and is expected to rise to $261 billion in 2020 after a year of poor economic performance due to the COVID-19 pandemic and the ensuing economic downturn. The state’s pension liabilities are currently estimated to be $137 billion […]

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In Case You Missed It – The Department of Labor has Issued a Finalized Rule on ESG Investing in ERISA Pension Plans

Washington, DC – The Department of Labor has finalized and released a new rule on tax-qualified retirement plans governed by the Employee Retirement Income Security Act (ERISA) in order to codify the extent to which Environmental, Social, and Governance (ESG) considerations factor into investment decisions. As laid out in the rule, ERISA plan fiduciaries may not invest in ESG vehicles […]

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