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The Massachusetts Pension Reserves Investment Management Board grew its defined benefit retirement portfolio’s assets by $7.9 billion in 2013 thanks to 15.2% investment return.
In an announcement Tuesday, the Boston-based agency stated that the Pension Reserves Investment Management Trust Fund ended the calendar year with about $57.9 billion. State Treasurer Steven Grossman credits the performance of global equities and private equity to exceeded its benchmark index by about 264 basis points.
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Benefit reductions meant to cut costs and even free up funds for AI may be undermining retention, as workers scale back savings and question their employers' priorities.
According to a recent Cerulli study, more than half of retired 401(k) participants say Social Security is their primary source of income. At the same time, only 6% of millennials predict they will rely on those funds when they finish their careers.
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Ed Ligonde, EVP, Nielsen Benefits Group; Allison Cohen De Paoli, Founder, Altiqe Consulting; Lori Lantz, SVP and Chief People Officer, CableLabs; Debi Yadegari, Founder and CEO, Villyge
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