Even a venerable national institution such as the Art Institute of Chicago has been experiencing rough times on its pension holdings.
Bloomberg reports that the noted art museum has decided to take some large steps to make up for substantial pension funding obligations.
But the Matisses and Picassos are not on the auction block; rather, some $100 million of taxable and tax-exempt bonds are going to be sold to try to meet the obligations.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
