Commentary

Bloomberg Law: ‘Do Good’ Investing by Retirement Plans to Be Part of New Report

The Labor Department’s shifting guidance also doesn’t appear to have an impact on ESG investing, Gotbaum said. Whether or not the DOL encourages economically targeted investing or proxy activity, the decision “has always been and will always be up to the fiduciaries themselves.” James Cole II, a lawyer with Groom Law Group in Washington, echoed […]

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The Financial Standard: US project to end pension politics

An American non-profit – led by a former state treasurer – is demanding pension plan managers stop putting politics before prudent investment. The Institute for Pension Fund Integrity (IPFI) says if a fund manager is investing pension money based on political reasons and not purely on the risk or return, they are weakening the fund […]

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Barron’s: Why Pensions and Politics Don’t Mix

While the U.S. stock market has produced one of the longest and strongest bull runs in its history over the past nine years, the financial condition of many of the country’s 6,000 or so state and municipal pension funds has deteriorated. Some are in bad shape. Yet, even as these pension funds grapple with a […]

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Chief Investment Officer: New Institute Challenges ESG-Minded Divestment Movement

A new pension-focused institute has been created that seeks to challenge nationwide efforts to convince public pension funds to divest from companies for environmental, social, or governance (ESG) reasons. The Institute for Pension Fund Integrity says many of the stocks that the ESG movement shuns generate good returns, so dumping them will harm pension portfolio […]

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Institutional Investor: New Pensions Group Says Forget About Climate Change

Pension funds should focus solely on getting the best investment returns and ignore issues such as climate change and other political issues, says a new group founded by a former Connecticut state treasurer. In a white paper released today, the new group, the Institute for Pension Fund Integrity, argued that prioritizing anything but returns is […]

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Press-Republican: Cuomo ignites pension fund debate with divestment push

But the governor’s move has spawned concerns that a green energy litmus test over investment decisions could end up limiting the fund’s growth should Cuomo’s prognostications regarding energy sector stocks prove to be flawed. “The comptroller needs to stick to his guns and understand that his fiduciary responsibility is to the beneficiaries” of the fund, […]

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The Hill: Pensions should avoid politics and invest for the benefit of our workers

Why do public fiduciaries think they should impose their political agenda on other people’s retirement benefits? Is not the standard of care to manage public retirement funds with the highest return at the lowest reasonable risk? With more than 50 percent of all state pension funds significantly underfunded and at least five states, including my […]

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The Hartford Courant: Those Pesky Trust Funds

Attorney General Richard Blumenthal had egg on his face when his annual disclosure statements to the State Ethics Commission showed that two minor children of Mr. Blumenthal had thousands of dollars worth of tobacco stocks in their names in family trust accounts for several years. The accounts are managed by the attorney general’s father, Martin […]

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