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State News
Oklahoma Public Employees Pension System Takes Exemption to Banking Law
Trustees of the Oklahoma Public Employee Retirement System voted to take a financial exemption from a new law forbidding state pension systems from doing business with banks perceived to be hostile to oil and gas companies. Read more
Georgia Pension System Funds for Teachers, University and State Workers Rebound
A year after a plunge in the stock market dropped the value of Georgia’s massive teacher, university and state employee pension systems by $15 billion, the Teachers Retirement System and Employees’ Retirement System have seen a comeback of sorts. Read more
CalPERS CIO Nicole Musicco Says Pension Fund Taking Cautious Approach to China
"We're being mindful about our exposure in China right now," Ms. Musicco said during an episode of "Bloomberg Wealth with David Rubenstein" — and she added that the pension fund giant is taking pains to "avoid having any big losses if we were to be told overnight to divest of China." Read more
Illinois Lawmakers Discuss Pension Debt Measure at Hearing
Illinois legislators met for the third time Wednesday to discuss a measure that aims to provide an additional $500 million yearly for the state's pension systems to address massive unfunded liabilities. Read more
House Bill Aims to Expand Pension Plan Access for North Carolina First Responders
Rep. Greg Murphy, R-N.C., has introduced a bill that would grant non-profit first responders access to their state's pension plan. Read more
Maryland State Pension Fund Returns 3.14% in Fiscal 2023
The Maryland State Retirement and Pension System reported a 3.14% investment return, net of fees, for the fiscal year ending June 30 to raise its asset value to $65.2 billion from $64.6 billion one year earlier. Read more
Alaska State Payroll Jobs Go Unfilled, Causing Problems for Other Workers
Almost half of state payroll processing jobs are unfilled, causing some state employees’ paychecks to be delayed or even short of what they should’ve been paid. Read more
Nebraska State Treasurer Tapped to Head State Retirement Agency
Nebraska’s state constitutional officers will be getting a shake-up this year after a state agency selected Treasurer John Murante as its next director. Read more
Denver Employees Recommends Lowering Return Assumption to 7%
The $2.7 billion pension fund's board voted at its July 21 meeting to recommend to Denver's city council that it approve the new rate of return, recently released meeting minutes showed. Read more
Cook County Gets Rating Boost from Moody's
Moody's Investors Service raised the rating for Cook County, Illinois, a notch to A1 with a stable outlook, citing its accumulation of "sound" reserves, along with the recent enactment of a state law governing its pension contributions. Read more
Kentucky Teachers’ Retirement Funds See Double-Digit Gains
Returns for the Teachers’ Retirement System of the State of Kentucky (TRS) annuity trust over the last 30 years are 7.7% compounded, which is ahead of the 7.1% long-term assumed rate of return. Read more
Arizona Public Safety Plan Notches 7.9% Fiscal-Year Return
The $19.5 billion pension fund's return fell below its benchmark return of 15% for the period, according to a performance report included with materials for its upcoming Aug. 24 investment committee meeting. Read more
Iowa, Idaho, and Montana Rank Best For Access to Retirement Plans in the Workplace
Florida, Georgia, and Rhode Island have the lowest rates of access to employer-provided retirement plans nationally, lagging behind national leaders by as much as 25%, according to recent research from the DC-based Economic Innovation Group. Read more
New York State Pension Plan Returns 3.08% in Fiscal Q1
The New York State Common Retirement Fund reported a 3.08% return for the first quarter of the 2023-24 fiscal year that ended June 30, raising its asset value to $254.1 billion from $248.5 billion at the end of the previous quarter and $246.3 billion at the same time last year. Read more
Chicago Teachers' Pension Fund Says No to Lincoln Yards
The Chicago Teachers' Pension Fund has declined an overture from Sterling Bay to back the Lincoln Yards megaproject, sending the developer back on the hunt for a financial partner to bail out the stalled $6 billion development. Read more
Ohio State Teachers Chalks Up 7.55% Return
The $90.1 billion pension fund's return fell just shy of the policy benchmark return of 7.62% for the period, spokesman Dan Minnick said in an email. Read more
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