State News
These Arizona Cities are Saving Big Money By Paying Down Pension Debt
Chandler this week became the largest city in Arizona to pay off its public safety pension debt, saving $8-10 million per year in the city's budget and ensuring its police and fire employees receive their promised pensions. Read more
Evanston City Council Commits to 100% Funding of Police, Fire Pensions by 2040
Evanston’s Public Safety pensions, at one time among the most underfunded in the state, will be placed on a 100% funding track to reach full funding by 2040. Read more
Commercial Real Estate Drags on CalPERS' Annual Returns
A negative return on commercial real estate has hampered annual performance of the nation’s largest public pension fund, one of the latest signs of weakness for U.S. properties. The California Public Employees Retirement System was still able to report a preliminary net return of 5.8% on all its investments for the 12 months ended June 30, compared with a negative net return of 6.1% a year ago. Read more
Detroit's Dilemma: Can Federal Pandemic Relief Funds Rescue Struggling Retirees?
The city is the beneficiary of a whopping $827 million in ARPA (American Rescue Plan Act) funds, all of which Mayor Mike Duggan’s administration plans to spend by summer 2025. However, the challenge lies in using these one-time funds without breaching U.S. Treasury Department rules. Read more
Louisiana State Employees Appoints New Executive Director
Bernard E. "Trey" Boudreaux III was named executive director of the Louisiana State Employees' Retirement System, Baton Rouge, a news release said Wednesday. He replaces Cindy Rougeou, who retired from the position in June. Read more
Missouri Sheriffs Seek Solution for Retirement System Funding
In 2021, the state’s supreme court ruled that the Missouri Sheriff’s Retirement System’s collection of a $3 fee for court cases was unconstitutional. Since then, the system has been without a consistent funding source. Read more
CalSTRS Posts 6.3% Fiscal-Year Return as Public Equity Storms Back
The California State Teachers' Retirement System, West Sacramento, earned an annualized net return of 10.1% for the three years, 8.2% for the five years, 8.7% for the 10 years, 8% for the 20 years and 7.8% for the 30 years ended June 30. Read more
Governor Murphy Signs Bill Allowing Retired Teachers to Return to Classrooms, Keep Pensions
Gov. Phil Murphy signed a bill into law allowing retired teachers to return to classrooms for up to two years without giving up their pensions in a bid to address the state’s shortage of educators. Retired teachers would receive their pension allowance and a salary during the duration of their contract. Read more
Gainesville Police and Fire Pension Fund Issues RFP for Investment Consultant
Gainesville (Fla.) Consolidated Police Officers' and Firefighters' Retirement Plan has launched a search for a non-discretionary or partially discretionary investment consultant, said William D. Johnston, chief investment officer for the city. Read more
Michigan Officials, Union Leaders Push Public Employment Amid Shortage
Michigan officials and union leaders are raising awareness of staffing shortages in public sector jobs. The state’s job search portal showed 640 openings. Read more
Retired Texas Teachers Could Soon Get a Pay Bump, But Voters Need to Approve It
Rep. DeWayne Burns, R-Cleburne was a co-sponsor on the bill that ultimately passed, but retired teachers will only get this pay bump if voters approve it at the ballot box in November. Read more
Pennsylvania State Employees' Retirement System Rehires NEPC
Pennsylvania State Employees' Retirement System, Harrisburg, rehired NEPC as real estate consultant. Read more
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