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State News
Kansas Passes Anti-ESG Bill, But It's Milder Than Some Want
A proposal designed to thwart investing that considers environmental, social and governance factors has cleared the Kansas Legislature, but divisions within its GOP majorities kept the measure from being as strong as some conservatives wanted. Read more
Minnesota K-12 Teachers Rally for Pension Reform
At a “Better Pensions Now” rally in the Capitol rotunda, several hundred people called for changes to a retirement plan in which nearly every public school teacher in the state is enrolled. Read more
ND Senate Advances Bill Overhauling Employees' Benefits
Lawmakers advanced a bill that would transition the state to a 401(k)-style plan from a pension-style plan. It would be the most expensive bill in state history at about $5.5 billion over the next 20 years, and after a lengthy discussion Tuesday, lawmakers voted to approve it. Read more
Treasurer Goldberg Wants the State Pension Fund Divested from Gun Manufacturers
Massachusetts Treasurer Deborah Goldberg is once again urging the Legislature to divest the state pension fund from gun manufacturers in response to the recent mass shootings across the country. Read more
New York City Comptroller Announces New ESG Goals for Pension Systems
Citing "rollbacks in the face of myopic right-wing pushback against responsible fiduciary investing," New York City Comptroller Brad Lander said Wednesday that two of the city's pension funds have established new plans to reach net zero emissions in their investment portfolios by 2040. Read more
Crime, Finances, Pensions Top Market's Concerns About New Chicago Mayor
Brandon Johnson will be sworn in as Chicago mayor next month with the municipal market's scrutiny fixed on whether he can sustain the city's momentum in dealing with chronic fiscal and public safety strains. Read more
Florida State Board Doing Asset Allocation Study to Diversify Away from Global Equity
Florida State Board of Administration, Tallahassee, is conducting an asset allocation study for the $183.9 billion Florida Retirement System. Read more
NYC Retirement Systems Asks Chipotle to Put Workers' Rights Policy on Menu
The five pension funds of the New York City Retirement Systems have joined in offering a shareholder proposal asking Chipotle Mexican Grill Inc. to adopt and publicize a workers' rights policy that includes upholding collective bargaining. Read more
Greenville City Council Requests Share of Funds Allocated for Underfunded Municipal Pensions
The Michigan Department of Treasury this spring launched the Protecting Michigan Pension Grant Program, which will provide millions in funding throughout the state to eligible local governments that operate with weak pension funding ratios. Read more
New Bill Would Help 700,000 Minnesota Workers Save for a Secure Financial Future
The Minnesota Secure Choice Retirement Program Act could help the approximately 718,000 Minnesota private-sector workers who currently do not have access to a retirement savings plan through their place of employment gain access to a more secure financial future. Read more
Indiana Lawmakers Rewrite, Advance Anti-ESG Pension Investment Bill
Lawmakers on Wednesday stripped long sections out of a controversial bill cracking down on the state’s pension investment managers, inserting a simplified structure that would reduce the fiscal impact to zero, according to the proposal’s author. Read more
Alaska School Staff Eye Retirement Reform
S.B. 88, sponsored by Sen. Cathy Giessel, R-Anchorage, would establish a new defined benefit system — or a system that is paid out by the State of Alaska — for Alaska’s public employees, with the goal of responding to Alaska’s struggles with workforce recruitment and retention. Read more
DeSantis’ Surprise Determination on Responsible Investing Will Cost Florida BillionsBond issuers are already retreating from the Florida market. Low price competition? Florida municipalities reported a record increase in the cost of debt, up to $361 million. Read more
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