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BP shares largely held by state pension systems across the US

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Below is a an excerpt from a Marketwatch article  that details the BP shares owned by state pension.  BP is coming under political pressure to cut it's dividend even though the company has the financial means to keep paying it.  The shortfall in funding of state pensions has been much publicized over the past few years. We can expect the states will fight back to preserve BP's dividend and share value.

  • The New Jersey Division of Investment (51 million shares)

  • The California Public Employees Retirement System (36 million shares)

  • The Pennsylvania Public School Employees Retirement System (7.1 million shares)

  • The Teachers Retirement System of Alabama (4.5 million shares)

  • The Employees Retirement System of Texas (4.1 million shares)

  • The Ohio Public Employees Retirement System (1.1 million shares)

  • The Illinois State Board of Investment (1.1 million shares)

  • The Indiana Public Employees' Retirement Fund (0.7 million shares)

  • The Washington State Investment Board (1.2 million shares)

Of special note, the United Nations Joint Staff Pension Fund holds 21.9 million shares of BP.

 

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Erin Nelsen, CFP®

Erin Nelsen, CFP®

Call 714-827-5794  to make a free consulation with Erin 

Erin Nelsen, CFP® is a fee-only fiducary Financial Advisor that manages portfolios & conducts hourly financial planning for Asset Planning.  Erin holds the CERTIFIED FINANCIAL PLANNER ™ & Registered Investment Advisor Representative professional designations.  Erin has expertise in various financial planning areas such as investments, taxes, estate divisions, public and private pension options, Social Security, real estate, insurance analysis, recent widow planning, and many other complex financial issues that arise.  Erin has been with Asset Planning since April 2007. Erin is thankful to have found her perfect forever firm. Asset Planning holds a high standard of care for both its clients and staff, and everyone is truly valued as family. 

An Orange County native, Erin earned her Bachelor of Arts in Business Administration with a concentration in Finance from Cal State Fullerton. Erin completed the Personal Financial Program at CSUF. Erin is an active member of the Orange County Financial Planning Association and has been a volunteer teacher of personal finance to elementary kids through the community outreach program Junior Achievement. 

Erin Nelsen is a Fee-Only Financial Advisor and a member of NAPFA, the largest Fee-Only Network Financial Planners. Fee-Only means Erin is only compensated directly by her clients & does not sell products nor accept commissions for the investments she recommends. Erin is proud to have built her career solely on the independent Fee-Only side of the Wealth Management industry. Erin is among an elite group of Financial Advisors held to the Fiduciary Standard. As a Fiduciary, she is required to put a client's interest above her own. Ethical, appropriate, & skilled professional care is our solid promise to all clients. 

When Erin is not at the job she loves, she is busy tending to her garden, caring for her family, attending concerts, traveling, floating in her pool, or scouting out new restaurants to try with her husband/college sweetheart of 18 years. Erin's  household is blessed with a son, daughter (both in college), two  nephews (orphaned), a Sheltie dog, & two royal cats that rule her household. 

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