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Dear Rusty: I am 73 and receive a pension from my state’s Police and Fire Pension Fund. I took a full pension, so my wife only gets a widow’s pension when I die, and this is only a fraction of what my full pension is. I also get a small Social Security benefit, about $95 a month, and that amount is pro-rated because of the amount of my state pension. My wife is 71 and receives a Social Security benefit of about $600 a month. When I die, can she get a portion of my Social Security benefit? And will it increase since she will not be getting my full state pension? Signed: Retired Public Servant
How will wifeâs benefits be impacted by his pension?
By Russell Gloor, AMAC Certified Social Security Advisor Saturday, February 13, 2021 10:46 AM
This article is intended for information purposes only and does not represent legal or financial guidance. It presents the opinions and interpretations of the AMAC Foundation’s staff, trained and accredited by the National Social Security Association (NSSA). NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (amacfoundation.org/programs/social-security-advisory) or email us at ssadvisor@amacfoundation.org.
Waterton raises $1.5 billion for latest value-added real estate fund
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Waterton held a final close of its latest value-added real estate fund, Waterton Residential Property Venture XIV, reaching its hard cap of $1.5 billion.
The fund invests in multifamily properties in major U.S. markets. The firm has already deployed capital from the fund, including the acquisition of a four-property portfolio in the greater Atlanta area, a two-property portfolio in Hawaii and three assets in California.
Its predecessor fund, Waterton Residential Property Venture XIII, closed at $920 million in April 2018.
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Ohio Police & Fire executive director sets retirement date
John Gallagher
John Gallagher, executive director of the Ohio Police & Fire Pension Fund, will retire effective July 1, spokesman David Graham said.
Mr. Gallagher has been executive director of the $17 billion Columbus-based pension fund since January 2013. The highlight of my time has been working with an incredibly experienced team of professionals committed to funding the retirements of Ohio s first responders, Mr. Gallagher said in a news release. I have no doubt that the board and senior staff will continue the good work during the search for a new executive director.
Mr. Graham said a search for a replacement will begin immediately. A timeline for the naming of a replacement has not yet been determined.
Ohio Police & Fire sets pacing for real asset, real estate commitments
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Ohio Police & Fire Pension Fund, Columbus, will make up to $580 million in new real asset and real estate commitments in 2021.
The $17.2 billion pension fund s board Wednesday approved the 2021 real assets investment plan, which will include up to $250 million in open-end funds and up to $110 million in closed-end funds, primarily in infrastructure, spokesman David Graham said.
No new commitments to timberland are expected in the foreseeable future, while the pension fund plans to make a gradual increase in commitments to agriculture funds over the next several years, Mr. Graham said.