News

The Market for Reverse Mortgages among Older Americans
Source: Wharton Pension Research Council

Reverse mortgages have long been viewed with skepticism by some retirees, financial planners, and financial institutions. Potential concerns are many, including high costs, dicey sales practices, and the potential of retirees to lose their home if things go badly. Interestingly, the same concerns about reverse mortgages or similar products (‘equity release’ options) seem to persist in
many countries with very different institutions and financial systems.

Yet the need to access additional retirement assets like home equity has never been stronger. Academics and researchers lament the lack of adequate retirement savings and growing debt among older Americans. Media headlines such as ‘Over 60 with Decades Left on the
Mortgage: The New Retirement Math’ in the Wall Street Journal (Rexrode 2020) are common.

Full Article

 

Read more

A Meeting of the Illinois Police Officers’ Pension Investment Fund – October 9, 2020
Source: IPOPIF

NOTICE: A MEETING OF THE ILLINOIS POLICE OFFICERS’ PENSION INVESTMENT FUND

To be held on Friday, October 9, 2020 at 9:00am.

You can view the agenda by clicking  IPOPIF Board Meeting Agenda

Zoom Digital Platform

ZOOM Invite: Public invited through telephone, see agenda for details.

Read more

A Meeting of the Illinois Police Officers’ Pension Investment Fund – September 28, 2020
Source: IPOPIF

NOTICE: A MEETING OF THE ILLINOIS POLICE OFFICERS’ PENSION INVESTMENT FUND

To be held on Friday, September 28, 2020 at 11:00am.

You can view the agenda by clicking  IPOPIF Audit Committee Agenda

Zoom Digital Platform

ZOOM Invite: Public invited through telephone, see agenda for details.

Read more

12 States That Won’t Tax Your Retirement Distributions
Source: AARP

One of the biggest items on your retirement budget is taxes. If you’re thinking of moving somewhere else, consider one of the 12 states that don’t tax distributions from pensions or defined contribution plans such as 401(k) plans.

Full Article

 

Read more

RFPs: Public Accounting/Consulting Services for FPIF
Source: FPIF

NOTICE: Firefighters’ Pension Investment Fund is seeking RFPs for Public Accounting/Consulting Services.

The Illinois Firefighters’ Pension Investment Fund (FPIF) is soliciting proposals from certified public accounting/consulting firms qualified to serve as an audit/accounting/information technology consultant for FPIF’s defined benefit plan.

Starting on September 8, 2020, the RFP can be found on FPIF’s website:
https://ifpif.org/employment-procurement/

Proposals must be submitted by 3:00 p.m. CDT on September 25, 2020 to:
Illinois Firefighters’ Pension Investment Fund
David Zaloga, Chief Financial Officer – dzaloga@ifpif.org
AND information@ifpif.org

 

Read more

A Meeting of the Illinois Police Officers’ Pension Investment Fund – September 11, 2020
Source: IPOPIF

NOTICE: A MEETING OF THE ILLINOIS POLICE OFFICERS’ PENSION INVESTMENT FUND

To be held on Friday, September 11, 2020 at 9:00am.

You can view the agenda by clicking  IPOPIF Board Meeting Agenda

Zoom Digital Platform

ZOOM Invite: Public invited through telephone, see agenda for details.

Read more

A Meeting of the Illinois Police Officers’ Pension Investment Fund – August 28, 2020
Source: IPOPIF

NOTICE: A MEETING OF THE ILLINOIS POLICE OFFICERS’ PENSION INVESTMENT FUND – Special Meeting

To be held on Friday, August 28, 2020 at 9:00am.

You can view the agenda by clicking  IPOPIF Special Board Meeting Agenda

Zoom Digital Platform

ZOOM Invite: Public invited through telephone, see agenda for details.

Read more

The Status of Local Government Pension Plans in the Midst of COVID-19
Source: Center for Retirement Research

The update’s key findings are:

  • Despite the recent market recovery, during fiscal year 2020, local government pension plans will see virtually no change in their average funded ratio.
  • And, going forward, the strains on government finances due to the recession could make it harder for localities to pay their required pension contributions.
  • But projections show that local plans are quite sustainable on a cash-flow basis. Most can pay benefits indefinitely at their current contribution levels.
  • The only exceptions are the very worst-funded plans, which face the real risk of exhausting their assets.

 

Full Article

 

Read more

A Meeting of the Illinois Police Officers’ Pension Investment Fund – August 25, 2020
Source: IPOPIF

NOTICE: A MEETING OF THE ILLINOIS POLICE OFFICERS’ PENSION INVESTMENT FUND – Election Committee

To be held on Friday, August 25, 2020 at 1:00pm.

You can view the agenda by clicking   IPOPIF Election Committee Agenda

Zoom Digital Platform

ZOOM Invite: Public invited through telephone, see agenda for details.

Read more

Executive director of massive Illinois teachers pension fund resigns after investigation into ‘performance issues’
Source: Chicago Tribune

The executive director of the massive Teachers’ Retirement System resigned earlier this week after being placed on administrative leave days earlier following an internal investigation into “performance issues.”

The Teachers’ Retirement System board voted unanimously last Friday to place Richard Ingram on administrative leave “due to performance issues covered by his employment contract,” the board said in a statement issued Thursday.

 

Full Article

 

Read more
Top