|
State News
Illinois Public Safety Pension Fund Consolidation Passes Second Legal Test
Illinois' consolidation of suburban and downstate police firefighter pension fund assets cleared a second legal hurdle but it could take a decision from the Illinois Supreme Court to clear the path for full participation in the plan. Read more
Pa. Bills Would Boost Benefits for Retired Teachers, State Employees
Democrats in the state House and Senate are trying anew to deliver a cost-of-living adjustment to Pennsylvania’s retired teachers and state employees, who have not seen an increase in more than 20 years. Read more
Analysis: Indiana Public Pension Bill Could Hurt System’s Retirees
A bill mandating that Indiana’s public pension system divest from firms or funds using certain nonfinancial investment criteria — a flashpoint in the state’s culture wars — could slash returns by nearly $7 billion in the next decade, according to a revised fiscal analysis. Read more
CalPERS, Stakeholders Press for Added SEC Climate Disclosures at Capitol Hill ForumStakeholders from Congress, the nation's largest pension plan, organized labor and others on Thursday voiced their support for the Securities and Exchange Commission's public company climate disclosure proposal, including the provision that has garnered the most pushback from the business community and Republican lawmakers. Read more
Bill Giving Tax Credits to Public Sector Retirees Scaled Back After Huge Fiscal NoteA bill that would give $1,400 over the next two years in the form of a refundable tax credit to certain retired Colorado public sector employees made it through the House of Representatives’ finance committee, but not without an amendment that scales back by nearly half the number of qualified individuals. Read more
Amid ESG Backlash, Kentucky Pension Fund Says it Will Not Divest from BlackRockKentucky County Employees' Retirement System's board is informing state Treasurer Allison Ball it will not divest from BlackRock because doing so would violate its fiduciary duty. Read more
Legislature Considers Restoring Traditional Pensions for Public Employees
Amid a deepening crisis in recruiting and keeping state workers, the Alaska Legislature is again considering measures to recreate a pension plan for public employees, but disagreements on the type and extent of the plan mean a long path ahead. Read more
House Committee on Pensions and Retirement Advances Four Bills Relating to Police and Fire Department Pensions and Funding
In a very brief meeting of the West Virginia Legislature’s House Committee on Pensions and Retirement on Tuesday, four bills, all relating to police and fire department pensions and funding, were advanced. l HB 2900 would allow “conditional re-employment of retired deputy sheriffs in the Deputy Sheriff Retirement System (DSRS) and allow [them] to continue to receive their full retirement benefits.” Read more
As Conservatives Push to Combat 'Woke' Investing by KPERS, Kansas Joins National Trend
Lawmakers across the country are increasingly focused on where and how public money is being invested, with Kansas set to join in the national debate over what some have called "woke" investments that take into account nonfinancial factors. Read more
New York State Teachers’ Posts Strong Q4 Equity Returns
The retirement system finished 2022 with its equity holding total at $40.69 billion, up from $38.46 billion the previous period. Read more
Texas' Largest Pension Fund Divests from BlackRock to Comply with Law
Texas' biggest pension fund has divested its direct ownership stakes in BlackRock and several other financial firms to comply with a state law prohibiting investing in companies deemed to be discriminatory against the oil and gas industry. Read more
New Virginia CIO Faces 'Daunting Task,' Aims to Continue Success
Starting a new job is a daunting task for anyone, but that was especially the case for Andrew H. Junkin, new CIO of the Virginia Retirement System, who joined VRS after the plan posted a strong two years of performance. Read more
New York's Pension Fund Grew Amid Market Woes
New York's pension fund over the final three months of the calendar year posted a 4.51% return amid ongoing market volatility, state Comptroller Tom DiNapoli announced. Read more
Oklahoma Joins in ESG Backlash, Creating its Own Boycott List
Oklahoma State Treasurer Todd Russ announced Feb. 1 that he had started the process of compiling a list of financial institutions with which Oklahoma government entities will be prohibited from doing business because of their environmental, social and governance policies. Read more
|
