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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