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State News
Most Companies on Oklahoma’s Blacklist Aren’t Actually Subject to a State Law Banning ‘Woke’ Investing; State Treasurer Added Them Anyway
The Frontier found the Oklahoma State Treasurer’s office applied criteria for blacklisting companies inconsistently, leaving some firms claiming they have been arbitrarily and wrongly banned from doing business with the state. The blacklist could have far-reaching effects on everything from financing for public works projects to how state payroll checks are processed. Read more
New Jersey Division of Investment Hires Head of Private Equity
Dana Johns takes the job after working as senior portfolio manager of private equity for Maryland’s state pension fund. Read more
Urban Counties Struggle with Fire/EMS Recruitment & Retention
Urban and rural counties across Maryland are reporting difficulties in recruiting and retaining career and volunteer firefighters. Read more
Hawaii State Pension Fund Ekes Out Gain in Rocky Quarter
The state Employees' Retirement System pension fund is on pace to achieve its seventh positive fiscal-year return in a row. Read more
DC Fire and EMS Members File $100M Lawsuit Over Pension
In a class action lawsuit, the group alleges they are being illegally deprived of their earned retirement benefits after pension funds were diverted to other uses — including equipment costs. Read more
CalPERS Joins World's Premier Global Platform for LGBTQ+ Equality
By joining Out Leadership, CalPERS reasserts its longstanding commitment to creating value, promoting equity, and improving financial performance on behalf of 2 million public employees and their families in the state of California. Read more
Vermont to Offer a State-Run Retirement Savings Program
Vermont Governor Phil Scott signed a bill establishing a state-run retirement savings program for workers whose employers don't offer a workplace plan. Read more
Bakersfield City Officials Review Options as Pension Costs to Rise in Next Decade
Pensions cost the city an estimated $59.5 million in the 2021-22 fiscal year. Officials expect the cost this year to reach $64.5 million and nearly $70.7 million for the 2023-24 cycle. Read more
Kansas Public Employees Approves New Real Estate Commitment
Kansas Public Employees Retirement System, Topeka, approved a new real estate commitment and changes to its target allocation, including increases to fixed income, real estate and private equity. Read more
California Revenue Shortfall Consistent with Historical Volatility
California's deteriorating revenue forecast reflects the high sensitivity of the state's tax revenues to changing economic conditions, which is a fundamental characteristic of its credit profile, says Fitch Ratings. Read more
Jacksonville Police & Fire Taps Dodge & Cox to Run $66 Million in Fixed Income
The $2.4 billion pension fund's board approved the hiring at its May 19 meeting, said Timothy H. Johnson, executive director. Read more California Bill Would Require State Pension Funds to Divest Oil, Gas Assets
The California state Senate approved a bill that would force the country’s two largest pension funds to divest an estimated $15 billion from oil and gas companies, a measure opposed by the funds’ managers. Read more
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