Pension Funds facts
While investigating facts about Pension Funds Act and Pension Funds Uk, I found out little known, but curios details like:
Buddy Fletcher, husband of Reddit CEO Ellen Pao, is being described as being the operator of Ponzi scheme after his now bankrupt firm diverted money for their own use and, according to the Chapter 11 trustee, committed fraud against investors. Three Louisiana pension funds lost $144 million.
how pension funds work?
Ellen Pao's husband Buddy Fletcher is a former hedge fund manager, but his fund went bankrupt after Fletcher and associates diverted investor funds for their own personal benefit, causing the loss millions of $$$ to Louisiana pensioners. He is now under investigation for civil fraud.
What pension funds do?
In my opinion, it is useful to put together a list of the most interesting details from trusted sources that I've come across answering what are pension funds. Here are 21 of the best facts about Pension Funds Online and Pension Funds In India I managed to collect.
what pension funds are in trouble?
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Thomas Payne argued in a 1797 pamphlet for an estate tax to fund elderly pensions and a one-time payment when a person reached 21
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Senator John Kerry introduced the Federal Pension Forfeiture Act, also called the Duke Cunningham Act, to prevent lawmakers who have been guilty of official misconduct from collecting taxpayer funded pensions. The bill has never been passed.
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When newspaper tycoon Robert Maxwell died, and his business empire collapsed, it emerged that he had stolen hundreds of millions of pounds from his companies' pension funds to to save his companies from bankruptcy.
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In 2012 the NYPD ransacked a man's home and confiscated $4800 on charges that were eventually dropped a year later. When he went to retrieve his money he was told it was too late; it had been deposited into the NYPD pension fund.
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Norway's Government Pension Fund. It is the largest pension fund in the world, being valued at $873 billion and holding 1% of global equity markets. It is funded primarily from taxes on petroleum companies.
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Andrew Carnegie established a pension fund in 1901 for his Homestead employees. He established another pension for college professors in the U.S. in 1905.
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When Guns N' Roses released "The Spaghetti Incident?", an album of covers, many of the proceeds went to the original artists. One was able to move, settle down, and not work for awhile; Guns N' Roses joked that they should have named the album "Pension Fund."
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The Government Pension Fund of Norway owns on average 1,5% of ALL public listed companies.
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Norway's pension fund owns 1.3% of the worlds listed stocks. Just keep in mind there population is 0.000697% of the world population.
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The Norwegian Government Pension Fund will not invest in WalMart due to "gross and systematic breach of human and employee rights"
Why are pension funds failing?
You can easily fact check why do pension funds invest in real estate by examining the linked well-known sources.
Swiss pension funds are expected to be insolvent by 2025, 5 years before their American counterparts. - source
A Teamsters union in New York was the first to run out of money in their pension fund leaving retirees with little to make ends meet - source
Buddy Fletcher, husband of Reddit CEO Ellen Pao, is being described as being the operator of Ponzi scheme after his now bankrupt firm diverted money for their own use and, according to the Chapter 11 trustee, committed fraud against investors. Three Louisiana pension funds lost $144 million.
The Government Pension Fund of Norway, the worlds biggest sovereign wealth fund, let you see the market value at any time. - source
When do pension funds rebalance?
Reddit CEO Ellen Pao's husband, Buddy Fletcher, is accused of civil fraud after scamming a police and firefighters pension fund out of more than $100 million dollars
How pension funds are reacting to negative bond yields?
Norway has a page where you can see the value of their government pension fund live
Buddy Fletcher, husband of Reddit CEO Ellen Pao, is being described as being the operator of Ponzi scheme after his now bankrupt firm diverted money for their own use and, according to the Chapter 11 trustee, committed fraud against investors. Three Louisiana pension funds lost $144 million.
One of Richard Branson's UK Pension Funds rips off investors with annual charges of 1%. Similar Fidelity Funds charge 0.07%.
