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State News
Oklahoma Considers Changes to ESG-blacklist Law
Oklahoma lawmakers are considering tweaks to a controversial law that punishes financial firms perceived to discriminate against the fossil-fuel industry. Read more
Ohio Lawmakers Reintroduce a Bill to Change Police Pension Contributions.
State lawmakers will take another crack at increasing local police department’s contributions to the Ohio Police and Fire Pension Fund, after a bill to do so stalled in the last legislative session. Read more
Mississippi Legislative Leaders Ask About Suspending PERS ‘13th Check’ Increases, Though They Say It’s Unlikely
The possibility of temporarily pausing or reducing the annual 3% cost of living increase Mississippi’s state and local government retirees receive was discussed recently by legislative leaders. Read more
Oklahoma House Speaker Charles McCall Removes 2 from Pension Board After Vote on Anti-oil and Gas Banking Law
Oklahoma House Speaker Charles McCall is replacing two of his appointees to a state pension system. The move follows a board vote in August to use an exemption from a new state law forbidding the state from doing business with financial firms perceived to be hostile to the oil and gas industry. Read more
A Fix for California’s Teacher Shortage? Pull Back the Retirees Who’ve Already Left
Senate Bill 765 would remove the waiting period to hire a recently retired teacher, and boost the post-retirement compensation limit — which is set by the state teachers pension agency, CalSTRS — from 50% to 70% of the median teacher income across the state. Read more
Dallas Police, Firefighters Ask for Delayed Bond Vote To Help Pension
The Dallas police and firefighters associations want to prevent a repeat of 2016 and 2017, when an extreme lack of confidence in pension funds led to a mass exodus of personnel. Now, both associations are requesting the city to delay its 2024 general obligation bond from May to November in order to stay ahead of such an outcome. Read more
CalSTRS Earmarks $2.1 Billion for Private Equity
CalSTRS committed about $2.1 billion to private equity strategies in the six months ending June 30, the $316.7 billion pension fund reported. Read more
Connecticut Budget Surplus Paying Down Billions in Pension Debt
Connecticut has seen increased revenue over the last few years, particularly from income tax withholdings, resulting in multi-billion-dollar budget surpluses. Most of that surplus, however, is already earmarked to pay down a pension debt that still sits at nearly $40 billion. Read more
Gretchen Whitmer Signs Bill Easing Rehiring of Retired Michigan Teachers
Retired Michigan public school employees can now return to work sooner than before without forgoing their pension benefits under the latest measure intended to help reduce a shortage of teachers and other school workers. Read more
NYC Fire Pensions Hit New High
New York City firefighters and fire officers retiring last year after full careers were entitled to average annual pension benefits of $149,783, up 11 percent from the prior year, according to new data added to SeeThroughNY, the Empire Center’s government transparency website. Read more
San Diego County Pension Returns 9.6% in Fiscal 2023
The San Diego County Employees Retirement Association reported a 9.6% investment return for the fiscal year that ended June 30, just beating its benchmark’s 9.4% return and raising its asset value to $15.85 billion from $14.56 billion one year earlier. Read more
‘Remarkably Stable’ or ‘In Crisis’? What We Know — and Don’t Know — About Hartford’s Pension Fund
Depending on which candidate for Hartford treasurer you ask, you will get a vastly different story about the status of the city's pension fund. Read more
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