|
State News
Kansas Pension Says New Anti-ESG Bill Could Cost $3.6 Billion in Returns
The $25 billion Kansas Public Employees Retirement System has determined that complying with Republican state legislators’ latest anti-ESG bills would cost it $1.14 billion in forced divestitures and end up lowering returns by about $3.6 billion over the next decade. Read more
Pennsylvania Townships Warned to Fully Fund Pension Obligations
While many townships and cities in Pennsylvania get docked by the auditor for a lack of oversight that could cause problems in the future, others are flagged for financial mistakes. Those mistakes can mean too much or too little state aid — or underfunding pension plans that lead to more debt landing on taxpayers. Read more
Gov. Gretchen Whitmer Signs Michigan Tax Relief
Democratic Gov. Gretchen Whitmer signed legislation to expand the Earned Income Tax Credit for lower-income workers and repeal the so-called pension tax on retirement income. Read more
New York City Pension System Plagued by Inefficiencies
The cost to administer benefits to about 340,000 retirees and beneficiaries, has grown by more than 40% to about $270 million since 2018, according to an analysis of the funds' financial reports by Bloomberg. Read more
R.I. Bill Would Offer Injured-On-Duty Status for Firefighters, Police Officers with PTSD
For the third consecutive year, Rep. Steve Casey (D-Woonsocket) has introduced a bill in the General Assembly that would allow Rhode Island firefighters and police officers diagnosed with post-traumatic stress disorder to receive pay for injury on duty and made eligible to apply for a disability pension. Read more
Penn SERS Loses More Than 12% in 2022
Despite a strong performance in the fourth quarter of 2022, the Pennsylvania State Employees’ Retirement System reported a 12% investment loss for 2022, ending a three-year streak of double-digit gains, including a 17.2% return the previous year. Read more
California Teachers Pension Fund Joins Politan's Legal Fight Against Masimo
The $311 billion California state teachers pension fund is teaming up with an activist investor to stop Masimo Corp's (MASI.O) chief from receiving over half a billion dollars if there are changes to the U.S. medical device maker's corporate governance, including its board of directors. Read more
NY Common Commits $1 Billion to BlackRock Public Equity Fund
The $242 billion New York Common Retirement Fund committed approximately $2 billion in new investments in January, half of which was earmarked within its public equity portfolio, according to the pension fund’s monthly transaction report. Read more
Connecticut Slates $375 Million for Infrastructure, Buyout Funds
Connecticut Retirement Plans & Trust Funds, Hartford, made two new commitments totaling $375 million. Read more
Council of Institutional Investors Names CalSTRS Manager as Board Chair
The Council of Institutional Investors has chosen a CalSTRS portfolio manager, Aeisha Mastagni, as its new chair. Read more
As Texas School Districts Scramble to Hire Teachers, This 2021 Law is in the Way
The Legislature inadvertently exacerbated the teacher shortage crisis facing the state in 2021 when it approved legislation designed to help retired teachers who want to return to work. But instead of helping, the new law made it prohibitively expensive for districts to re-hire teachers who are collecting their pension benefits. Read more
|
