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State News
Alaska Lawmakers Propose Pension Plan for State Workers
A proposed overhaul of Alaska’s public retirement system would provide a new pension plan for state workers and is seen by supporters as a way to address concerns with recruiting and retaining employees. Read more
Texas Anti-ESG Push is Coming for Insurers and Pension Funds in New Bills
A Texas lawmaker is seeking to broaden the fight against ESG policies by imposing further limits on the types of investments state pension fund managers can make and restricting shareholder proposals that would dictate insurance companies' business with oil and gas firms. Read more
CalSTRS Seeks Higher Returns at Same Risk Levels
CalSTRS investment committee at its meeting on Thursday informally directed staff to focus on providing potential asset allocation mixes in May with asset allocation risk levels to produce returns of 7.2% to 7.4%. Read more
DeSantis' Targeting of ESG Could Cost Taxpayers, Pension Fund Millions of Dollars
Blacklisting investment managers and banks that make business decisions based on what Gov. Ron DeSantis calls “socialist” woke policies could come with disastrous consequences, including hidden costs and a chilling effect on free speech, economic analysts say. Read more
Jacksonville Police & Fire Cuts Return Rate to 6.5% and Prohibits Cryptocurrency Investments
The $2.7 billion pension fund's board approved lowering the assumed rate of return from 6.9% at its Feb. 17 meeting, according to a meeting summary posted on its website. Read more
Colorado Lawmakers Advance Climate Bill But Strip Pension System Measure
Two Democrats on the Colorado Senate Finance Committee on Tuesday joined Republicans to defeat the latest in a series of attempts to prod the state’s public pension system towards more climate-friendly investment decisions. Read more
Murphy Unveils $53B N.J. Budget with Property Tax Relief, Tax Credits, Big Spending on Pensions, Schools
Gov. Phil Murphy on Tuesday unveiled a proposed $53.1 billion state budget that lifts government spending in New Jersey to a new high even as tax revenue growth begins to show signs of slowing — a plan, he said, that will make the state more affordable for millions of residents. Read more
Missouri Republicans Go After ‘Woke’ Investing to Prevent State Funds from Being Used in the Fight Against Climate Change
Some Missouri officeholders want to make sure that state funds aren’t used to promote “woke political agendas.” An effort is underway to ban state involvement with banks that prioritize climate action or other socially driven investments. Read more
Ohio State Pension Approves New Asset Allocation
The Ohio Public Employees Retirement System’s board of trustees has approved new asset allocations for its defined benefit plan and health care fund that increases exposure to alternative investments, and shifts away from fixed income, foreign equities, and risk parity. Read more
Dallas Gets Top Court's Ear in Battle with Pension Fund
The Texas Supreme Court agreed to hear Dallas' challenge to a decision greenlighting a suit from the municipal workers' retirement fund that said the city improperly slapped term limits on the fund's board members. Read more
Kansas Public Employees Names Deputy CIO for Public Markets
Michael Cumming was named deputy chief investment officer for public markets at the $25.3 billion Kansas Public Employees Retirement System, Topeka. Read more
ESG Culture War Heats Up in Vermont with Fossil Fuel Divestment Bill
The ESG culture war notched up higher as Vermont stepped forward with legislation requiring the state's three largest pension funds to divest from the fossil fuel industry. Read more
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