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April 3, 2023: NCPERS Weekly News Clips
Posted On: Apr 03, 2023

NCPERS Weekly NewsClips

April 3, 2023

Feedback Requested: Vote on the 2024 Public Safety Conference location!

NCPERS Spotlight

Pension Industry Careers: Job Listings, Hiring, and Retirement Announcements, April 3, 2023

NCPERS Washington Update, March 31, 2023

Ready or Not - Revised ASOP No. 4 is Here, March 29, 2023

How Organized Labor in Michigan is Driving Historic Change, March 29, 2023

Are Pensions the Answer to the Public-Sector Worker Shortage?, March 27, 2023

ASOP 4 Toolkit: Measuring Pension Obligations & LDROM Now Available, March 24, 2023

ACE 2023 Agenda Released, March 22, 2023

Spring 2023 Issue of PERSist Now Available, March 21, 2023

Registration Now Open for NCPERS 2023 Chief Officers Summit, March 15, 2023

2022 Public Pension Compensation Survey Now Available, November 10, 2022

Upcoming Events

ASOP 4: What Pensions Should Know About the Newly Required LDROM Disclosure

Date: April 13

Location: Virtual

NCPERS Life Insurance Webinar

Date: April 18

Location: Virtual

Annual Conference & Exhibition (ACE)

Date: May 21-24

Location: New Orleans, LA

Chief Officers Summit

Date: June 19-21

Location: Denver, CO

Opinions



There’s A New Retirement Normal For Public Employees: Supplemental SavingsAccess to a pension, Social Security and retiree healthcare no longer guarantees a secure retirement for public workers given rising health costs and longer lives. Read more

National News

Could Defined-Benefit Pension Plans Make a Comeback?

There are early signs of support for reviving the plans in the private sector. Read more

Hedge Funds Continue to Lose Investors

This February, investors yanked an estimated $4.83 billion from hedge funds, according to a study by Nasdaq eVestment, the exchange’s research arm. This marked the first February since 2009, during the financial crisis, that flows were negative. Read more

US Workers’ Retirement Readiness Declines Amid Market Volatility

American savers only have 78% of the income needed to cover expenses during retirement, according to Fidelity, down from the last study in 2020. Read more

Retirement Funds for Teachers and Firefighters are Caught in ESG Crossfire

Business groups, labor unions and others are sounding off against state GOP efforts to bar public pensions from making environmentally and socially conscious investments. Read more

Canadian News

Report Finds More Canadian Pension Funds Committing to Net-Zero Emissions by 2050

Over the last year, the number of large Canadian pension funds with commitments to achieving net-zero emissions by 2050 rose from two funds to nine, representing $1.8 trillion — or 81 per cent — of total pension fund assets evaluated, according to a new report by Corporate Knights. Read more

Canada to Ask Pension Funds to Disclose Crypto Exposure

Canada's national government said federally regulated pension funds in the country will need to disclose their crypto assets exposure to the Office of the Superintendent of Financial Institutions (OSFI), as Ottawa tightens its regulatory oversight on the volatile industry. Read more

What’s in the Federal Budget for DB Pension Plans, Institutional Investors?

The 2023 federal budget, which was announced on Tuesday, includes several initiatives related to defined benefit pension plans and the broader institutional investment sector. The government said it would entrust the administration of a new federal investment fund to the Public Sector Pension Investment Board. Read more

State News

Montana Lawmakers Looking at Possible Changes to State Pension Systems

Montana’s unfunded pension liability has been a topic of debate for years at the state Legislature. Now, a pair of bills aimed at reducing that liability have passed the House and are under consideration in the Senate. Read more

How Texas Teachers Got Governance Right

The Teacher Retirement System of Texas has a long history of strong governance, including the board having an independent consultant and an investment team that is compensated well. The efforts have paid off in a positive relationship between the board and the investment staff. Read more

Florida House Committee Passes Bill to Increase State Pension Benefits

House Bill 239, which passed favorably through the House Appropriations Committee meeting on Tuesday, will increase retirement benefits for the 629,073 members of the Florida Retirement System and 151,913 current retirees. Read more

West Virginia Passes Law Protecting Own Retirement Funds from ESG Investing

On Tuesday, Gov. Jim Justice signed House Bill 2862, which requires the state’s investment boards, which manage public pension and state investment funds, to cast proxy votes based solely on the financial interests of pensioners and taxpayers, not ESG factors. Read more

Maryland State Retirement Agency Is Adding COO

The new position is intended to help staff handle a growing workflow. The MSRA, which administers the Maryland State Retirement and Pension System, has been expanding since CIO Andrew Palmer took over in 2015, doubling to 48 staffers. Read more

Advocates Criticize Washington Pension Fund for Lack of Ambition in Tackling Climate Crisis

A new report suggests that the Washington State Investment Board (WSIB) — the public body that manages more than $181 billion in pension funds and other public assets — frequently voted against climate change resolutions introduced by activist shareholders in 2022. Read more

All NJ Police, Firefighters Could Retire with Pensions After 20 Years Under New ‘Burnout Bill’

Supporters of the proposal — dubbed the “burnout bill” — say it’s designed to help a small number of public safety workers who find it difficult to keep doing the job because of mental or physical exhaustion. Read more

Senate Commits $4.7B to Boost Texas Teacher Pensions

Both chambers of the Capitol — House and Senate — have chosen to push billions of the current budget surplus into a cost-of-living adjustment for the state’s retired teachers. Read more

Wisconsin State Pension Defers $26 Million in Incentives After 13% Loss

The State of Wisconsin Investment Board announced that it is deferring approximately $26 million in staff incentive compensation payments for 234 employees until the second half of this year. Read more

North Carolina Lawmakers Propose State-Run Retirement Program

Four North Carolina lawmakers introduced a bill that would create a state-run retirement program, encouraging private-sector employees without a retirement plan to save via IRAs. Read more


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