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Chart of the Week: DC overtakes DB in top seven pension markets

first_imgDB and DC assets (%)Chart MakerIn the Netherlands, the proportion of DC assets remained at 6%, the same as in the 2017 report. DC assets in the UK decreased from 19% to 18% last year, largely as a result of a recalculation by the country’s Office for National Statistics.Total assetsDC capital grew by 7.6% a year on average over the past 20 years, while DB assets averaged just 3.2% a year.Combined pension assets of the world’s 22 largest markets dropped 3.3% to €35.6trn last year, the report said.Dutch assets fell from €1.42trn to €1.35trn, while the UK’s combined assets declined from €3.11trn to €2.53trn.Although Dutch pension assets as a proportion of GDP fell from 193.8% to 167%, this was still the highest ratio of the 22 surveyed countries.The UK saw its pension assets relative to GDP decrease from 121.3% to 101.7% last year, while Switzerland’s ratio was 126%.At €21.9trn, the US was the largest of the surveyed pension markets.Asset allocationThe study also showed that the Netherlands, the UK and Japan had an above-average allocation to bonds.Dutch and UK fixed income investments amounted to 54% and 53% of assets, respectively, while Japan’s bond allocation was 60%.Swiss pension funds had the highest exposure to alternatives, with 31%.Top seven markets’ averageasset allocation (%)Chart MakerCommenting the study results last year, Jacco Heemskerk, Willis Towers Watson’s head of investment in the Netherlands, argued that the conservative investment policy of Dutch pensions funds was eroding the purchasing power of their participants. Defined contribution (DC) pension funds have more assets than defined benefit (DB) funds across the world’s seven biggest pension markets, according to Willis Towers Watson’s Thinking Ahead Institute.The institute’s Global Pension Assets Study analysed data from 22 of the largest pension markets. The top seven – Australia, Canada, Japan, the Netherlands, Switzerland, the UK and the US – accounted for 91% of assets covered by the report.Across those seven countries, DC assets were estimated to be “slightly over 50%” of total pension assets, the Thinking Ahead Institute reported – although this was primarily as a result of the dominance of DC in the US, the world’s biggest pension market by assets.Australia and the US were predominantly DC markets, but Japan and Canada were “showing an increasing allocation towards DC”, the institute said.last_img read more

Jeffrey Epstein’s autopsy consistent with homicide not suicide, expert says

first_imgA renowned forensic pathologist says Jeffrey Epstein may not have taken his own life.In an exclusive interview with Fox & Friends, Dr. Michael Baden said Epstein’s injuries appeared more consistent with homicidal strangulation rather than suicidal hanging.Epstein’s brother hired New York City’s former chief medical examiner to observe his brother’s autopsy after he was found hanged in his Manhattan lockup in August.Chief Medical Examiner Dr. Barbara Sampson ruled his death a suicide “after careful review of all investigative information, including complete autopsy findings.”Baden, however, disputed those findings noting in Wednesday’s interview that what he found was something “he’s not seen in a suicidal hanging in 50 years. ”After reviewing the autopsy, Dr. Baden said he found two fractures on the side of Epstein’s larynx, and another fracture on a bone above the Adam’s Apple emphasizing that both appeared “extremely unusual.”The 66-year-old millionaire’s death came about a month after his arrest on federal sex trafficking charges, and just days after he was taken off suicide watch.Epstein’s case was highly publicized while he was alive, and his death has not been any different as a whirlwind of allegations and conspiracy theories continue to go viral.This story is developing.last_img read more

Authorities seek information in beating death of Fort Lauderdale man

first_imgThe Fort Lauderdale police department is currently searching for information in regards to the fatal beating of a 47-year-old local man.According to the report, authorities say Paulesky Mauney was dropped off at the Broward Health Medical Center on October 20th after being severely beaten.Mauney remained in the hospital for 10 days before he passed away as a result of his injuries.Investigators are asking for anyone with information about this incident to contact them at 954-493-TIPS.last_img read more

Police investigate another possible trespassing incident at Mar-a-Lago

first_imgAnother possible trespassing incident at Mar-A-lago calls Palm Beach police to open an investigation.According to reports, police were called on Wednesday. No further details were details.Earlier this year, police arrested a woman who was accused of lying to Secret Service agents to gain access to the club.Chinese businesswoman sentenced to eight months for Trespassing at Mar-a-Lagolast_img

Ex-Miccosukee cop is sentenced after forcing teens to strip naked

first_imgA former Miccosukee Police officer has been found guilty of forcing two teens to strip naked during a traffic stop back in 2016.Michael Martinez pulled over 18-year-old Kyle Shoulta, and Remy Riley near mile marker 48 of Alligator Alley, for running a stop sign. He then offered them a deal to run naked and avoid jail time.Martinez appeared in court and was found guilty on two counts of extortion and two counts of unlawful compensation. He has been sentenced to 10 years.last_img

Local police arrest man who attacked officer while attempting to flee a car accident

first_imgThe Fort Lauderdale Police department has arrested a 29-year-old man who attacked a female officer while attempting to flee the scene of a car accident. The incident occurred Thursday afternoon at 2225 NW 19th St. Authorities say they were called to the area due to a vehicle accident where one of those involved was attempting to flee the scene.When the officer arrived, she spoke to those involved and attempted to detain Marcelas Jones who was said to have tried to leave. As the officer attempted to get Jones out of the road, Jones suddenly begins attacking her. Video taken by a witness at the scene shows Jones pushing the officer up against a fence, choking her, and punching her with both of his fists. Two security guards then rush to help the officer as more police officers also rushed to the scene.Jones was finally arrested and taken into custody.  He appeared in court Friday where he charged with leaving the scene of an accident, resisting arrest with violence, and aggravated battery of a law enforcement officer. He is currently being held on a $25,200 bond and has been ordered not to have any contact with the officer. The officer was said to have suffered minor injuries from the assault but is expected to be OK.last_img read more

Local man arrested for pointing an AR-15 with a laser at a police helicopter

first_imgThe Martin County Sheriffs Office is reporting that they have arrested a 55-year old man after he reportedly pointed a laser that was attached to an AR-15 at a police helicopter.The incident occurred around 9:50 pm on January 18th as officials were assisting the Port St. Lucie police department with a burglary investigation.When the Port St. Lucie police department responded to the home, Norman Flaxman admitted that he pointed the laser at the MCSO Air-1 helicopter because  he “wanted to test it.” Authorities also reported that Flaxman may have posted the footage on social media.He is now facing felony charges of pointing a laser at a pilot or driver.last_img read more

Search for Baby Andrew Continues after Four relatives Die in Triple murder, Suicide

first_imgA devastating nightmare continues for a one-week old baby from Miami Dade. The search for baby Andrew is stretching from South Florida up to Pasco County.Baby Andrew vanished from his home on Tuesday in Miami-Dade County’s Redlands community after his father allegedly shot and killed his mother, grandmother and great grandmother. His father, 49-year-old Ernesto Caballeiro then shot and killed himself in Pasco County but the baby wasn’t there. Two shootings this week left him an orphan, and his relatives are desperate to find him.With the help of surveillance video, detectives were able to see the baby, who was born Jan. 18, in the arms of his father before his death, but the child was gone when law enforcement found Caballeiro’s body.Deputies searched the woods in Pasco County. The crime scene was more than 300 miles from where Caballeiro took the newborn baby from his mother while holding an AR-15 rifle, police said.Garcia’s 9-year-old daughter survived the bloodshed and it is hoped that Baby Andrew is still alive too.last_img read more

Lawsuit Claims Funeral Home Left Girl’s Body to Decompose

first_imgA Riviera Beach funeral home is facing a multi-million dollar lawsuit, after a family claims the business failed to preserve an 11-year-old girl’s body.The family of Re’Asia Washington claims they noticed her body was decomposed and nearly unrecognizable leading up to her memorial service.“My daughter was deteriorated beyond recognition, her skin has come off her body,” says Ebony Morgan, Re’Asia’s mother.The fifth-grader died on Jan. 22 after suffering an asthma attack while in Georgia.Morgan hired Shawn Johnson Funeral and Cremation Services to handle the arrangements.However, “When I saw her face, it looked like someone had threw acid on her face, or she was pushed into a fire and just left to burn,” Morgan explains. She adds that her daughter’s scalp appeared to be coming off the girl’s head.In the lawsuit, which was filed by Tayson Gaines with the Palm Beach County-based Gaines Firm, the family alleges a breach of contract with the funeral home, fraudulent misrepresentation, negligence, negligent infliction of emotional distress, deceptive and unfair trade practices, and conspiracy.The family has also filed a complaint with the Florida Department of Financial Services’ Division of Funeral, Cemetery and Consumer Services, according to Pierre Ifill, Re’Asia’s uncle and an attorney who is helping Gaines with the lawsuit.“What we got was a mummified body that was not presentable for a service. What we got was excuses,” Ifill says. “That’s not acceptable.”On Jan. 24, an employee of the funeral home transported Re’Asia’s body to Florida from Georgia without embalming or refrigerating it.The funeral home also lacked the disposition permit that is required by Georgia law to move a body across state lines.On Jan. 31, Shawn Johnson allegedly refused to allow Ebony Morgan to see her daughter’s body. Johnson refused again on Feb. 5 and 6.However, Morgan paid Johnson $3,055 on Feb 4.After Johnson refused to allow Morgan to see the body on Feb. 6, Morgan contacted state officials to inquire about her rights to see her daughter’s body at the funeral home, and was told she could.Later that day, Morgan visited the funeral home with a police escort. A few hours later, Johnson returned to the funeral home and rolled Re’Asia’s body into the office. She allowed Morgan and her sister to only see the girl’s face and hand.When Morgan’s sister began taking photos of the body, Johnson reportedly threatened to sue if she showed them to other people.On Feb. 7, Morgan informed Johnson that she was planning to pick up the body. Johnson claimed that it was in a Fort Lauderdale morgue. However, the morgue claims that it does not have a contract with the funeral home.“We have not heard one apology” from the funeral home or anyone associated with the business, Ifill states.The family says it had to cancel Re’Asia’s viewing due to what happened.Morgan and Re’Asia’s father, Reginald Washington, are now seeking $10 million in damages from the funeral home, its three managers — Shandelrio “Shawn” Johnson, Ronald Warnecke and Alterraon Phillips — and the funeral home’s embalmer, Adrienne Leger.last_img read more