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State News
California Teachers’ Pension Keeps Shrinking Its Exposure to China
China dropped to the 19th place on the California State Teachers’ Retirement System ranking of country asset exposure, following a broader US pension retreat from the world’s second largest economy. Read more
Oklahoma Treasurer Says Exemptions for ‘Woke’ Investment Ban Likely in Closed-door Meeting with State Retirement Fund Leaders
Oklahoma State Treasurer Todd Russ is expected to issue a revised list of financial institutions accused of boycotting the energy industry by the end of the month, according to state pension fund directors. And the state will likely grant exceptions for pension systems using companies accused of boycotting the fossil fuel industry, pension fund directors were told during a closed-door meeting. Read more
Why a Pension Fund Said No to RFPs
“We can move very quickly, but there’s still a lengthy diligence process to get us there,” says City of Austin Employees' Retirement System CIO David Kushner. Read more
Robust Lottery Receipts Bolster New Jersey Pension Fund
According to the state Lottery’s latest annual financial results, total sales hit a record $3.72 billion during the 2023 fiscal year, which ended June 30. Also hitting a record high during the last fiscal year was the portion of Lottery revenues dedicated by law to funding public-worker pensions in New Jersey, according to the new state Lottery results, which are still subject to final auditing. Read more
New York State Pension Fund Invests More Than $1.4B in June
The $248.5 billion New York State Common Retirement Fund committed more than $1.4 billion in investments in June, nearly half of which were made through the pension fund’s private equity portfolio, according to its latest monthly investment report. Read more
CalPERS Vendor Pension Benefit Information Sued for Breach of Retirees' Data
A CalPERS service provider, Pension Benefits Information, is facing a new class-action lawsuit after it disclosed a breach of retirees and beneficiaries' personal information, part of a widespread attack by a Russian ransomware gang. Read more
Connecticut Comptroller Sean Scanlon Projects $630 Million Surplus
OSC is currently projecting approximately $1.96 billion would be available to reduce unfunded pension liability for the State Employee Retirement System (SERS) and the Teachers' Retirement System (TRS). Read more
Rhode Island Employees Net 8.9% Return for Fiscal Year
Rhode Island Employees Retirement System, Providence, returned a net 8.9% for the fiscal year ended June 30, above its policy benchmark return of 7.1%, according to a monthly investment report from the Rhode Island State Investment Commission. Read more
Michigan Municipalities to Get State Aid for Under-Funded Pensions
There are 145 municipalities set to receive up to $750 million from state pension program. The list of approved expenditures is expected to be released this week. Read more
Baltimore City Fire & Police Employees Posts 6.9% Fiscal-Year Return
Baltimore City Fire & Police Employees' Retirement System posted a preliminary net return of 6.9% for the fiscal year ended June 30, below its policy benchmark index return of 7.2% for the period, according to an investment report posted on the system's website. Read more
California Pension Fund Names Gaurav Patankar CIO
The former head of Bloomberg’s alternative investment strategy joins the Merced County Employees’ Retirement Association. Read more
Chicago Public School Teachers Seeks International Equity Manager
Chicago Public School Teachers' Pension & Retirement Fund is searching for an active international equity manager to manage a $200 million portfolio with core, growth and value strategies. Read more
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