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State News
Illinois Teachers’ Pension Seeks Diversifying Strategies Consultant
The $64 billion Teachers’ Retirement System of the State of Illinois has issued a request for proposals seeking ongoing consulting services for its $3.5 billion diversifying strategies portfolio. The Illinois TRS is also looking to hire a new investment officer and plans to open a Chicago office. Read more
New York City Clamps Down on Fossil Fuels Via ESG in Defiance of National GOP Blowback
Proponents of ESG investing, such as New York City Comptroller Brad Lander, who oversees the city’s pension plans, see ESG investment strategies, for example, moving away from investments in the fossil fuel industry, as compatible with fiduciary duty, as they contend divestments help safeguard plan beneficiaries from the longer-term financial risks associated with disruption from climate change. Read more
Evanston’s Finance and Budget Committee Agrees on Pension Funding Policy
Evanston’s Finance and Budget Committee agreed Tuesday night to recommend City Council adopt a public safety pension funding policy that calls for assuming a 6.5% annual rate of return on pension investments. Read more
Police Officer Exodus Could Cost New Orleans Millions in Fines
Because of the number of New Orleans police officers who have left the force over the past two years, the police pension system considered the agency "partially dissolved." Read more
CalPERS to Amp Up Investing in Renewable Energy
CalPERS plans to increase its investments in renewable energy as well as what officials there call "transition" investments — companies that are moving to green from brown energy — said Peter Cashion, managing investment director for sustainable investments at the $468.3 billion pension fund. Read more
Fla. Police, Firefighters Can Retire Early with Pensions Under New Bill
Under the revised policy, police and firefighters can retire at age 55 or with 25 years of service, whichever comes first. Read more
San Francisco City & County Estimates 3.9% Gross Return for Fiscal Year
San Francisco City & County Employees' Retirement System has estimated a 3.9% gross return for the fiscal year ended June 30, after a negative return last year, according to a report from CEO/CIO Alison Romano. Read more
Hawaii Seeks Executive Director to Establish State Retirement Savings Program
Hawaii’s executive branch is hiring for the first executive director of the Aloha State’s private sector retirement plan for workers without a workplace retirement plan. Read more
CalPERS Reports Preliminary 5.8% Return for Fiscal 2023
Public equities and private debt were the top performers for the fund’s $462.8 billion portfolio. Read more
New Mexico's Top Investment Officer to Retire Oct. 1
Steve Moise, New Mexico state investment officer, who has led the state's investment council since 2010, will retire Oct. 1, according to a news release. During Mr. Moise's tenure, the endowments overseen by the New Mexico State Investment Council, Santa Fe, have more than tripled to $44.6 billion. Read more
BlackRock, SSGA Mandates Under Review by Oklahoma Public Employees
Oklahoma Public Employees Retirement System, Oklahoma City, is soliciting proposals for mandates now run by BlackRock and State Street Global Advisors, two of the 13 financial firms that have been blacklisted by Oklahoma State Treasurer Todd Russ for allegedly boycotting energy companies. Read more
Louisiana Municipal Police Employees Captures 7.6% Return for Fiscal Year
Louisiana Municipal Police Employees Retirement System, Baton Rouge, returned a net 7.6% for the fiscal year ended June 30, up from a net -10.3% for the previous year. Read more
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