Global institutional pension fund assets in the 22 largest major markets (the P22) continued to climb in 2020 despite the impact of the pandemic, rising 11% to $52.5 trillion at year-end, according to the latest figures in the Global Pension Assets Study conducted by Willis Towers Watson’s Thinking Ahead Institute.
The seven largest markets for pension assets (the P7) — Australia, Canada, Japan, the Netherlands, Switzerland, the U.K. and the U.S. — account for 92% of the P22, unchanged from the previous year. The U.S. remains the largest pension market, representing 62% of worldwide pension assets, followed by Japan and the U.K. with 6.9% and 6.8%, respectively.
The release came six months after the FOIL request was submitted, five months after we and the Government Justice Center filed suit, and one week after a court found that the department had violated FOIL and ordered it to release what were clearly public records.
The pension benefits collected by 969 teachers, college instructors, and school administrators who retired in 2019 with at least 30 years of service credit and received a full year of pension benefits in 2020 averaged $75,212.
NYCTRS paid six-figure pension benefits to 3,708 retired New York City teachers. Of those retirees collecting more than $100,000, 104 retired during the 2019 calendar year.
State Representative Amy Elik (R-Fosterburg) kept her promise to Metro East taxpayers by rejecting the lawmaker pension. The pension benefit is available to all lawmakers serving in the part-time legislature.
“I refused the taxpayer-funded pension because the state can’t afford to offer this lavish benefit to lawmakers anymore,” said Rep. Elik. “The pension offered to lawmakers is swimming in debt with over $314 million in unfunded liabilities. By rejecting the pension, I am reducing the debt forced onto Illinois taxpayers.”
Both employers and households will find it easier to leave major job centers as technologies made commonplace by the COVID-19 pandemic have led to a rethinking of the geography of work, according to a new study published by Pioneer Institute.
The study draws on survey data projecting that a third of workers could be permanent telecommuters by the end of 2021 and discusses implications of these trends for transportation, municipal finance, and wealth migration. While worst-case scenarios could bring a level of disinvestment in places like New York City not seen since the 1970s, even a mid-range scenario suggests a significant relocation of jobs and potentially wealth.
The early prognosis of high-risk older adults for amnestic mild cognitive impairment (aMCI), using noninvasive and sensitive neuromarkers, is key for early prevention of Alzheimer’s disease. A recent study, published in the Journal of Alzheimer’s Disease, by researchers at the University of Kentucky establishes what they believe is a new way to predict the risk years before a clinical diagnosis. Their work shows that direct measures of brain signatures during mental activity are more sensitive and accurate predictors of memory decline than current standard behavioral testing.
“Many studies have measured electrophysiological rhythms during resting and sleep to predict Alzheimer’s risk. This study demonstrates that better predictions of a person’s cognitive risk can be made when the brain is challenged with a task. Additionally, we learned that out of thousands of possible brain oscillation measures, left-frontal brainwaves during so-called working memory tasks are good predictors for dementia risk,” explained lead investigator Yang Jiang, associate professor of behavioral sciences and an affiliated faculty member at the Sanders-Brown Center on Aging.
Author(s): University of Kentucky (it’s a press release)