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State News
NYC Pensions Increase Allocation to Emerging Managers Following Outperformance
New York City’s pension funds announced they are expanding their emerging manager program after an analysis showed that the women-and minority-owned asset managers with whom they invest have outperformed their benchmarks net of fees in all asset classes since 2015. Read more
A State Retiree Seeks to Overturn Oklahoma’s ‘Woke’ Investment Ban
A former state employee, backed by pension groups and an organization that represents public workers, is suing to overturn an Oklahoma law banning the state from doing business with financial firms accused of boycotting the fossil fuel industry. Read more
In Louisiana, Public Servants Highlight How Social Security Rules Jeopardize Their Retirement
Not only do the WEP and GPO unfairly reduce many seniors’ retirement benefits, but they also often come as a surprise. Several witnesses told the Subcommittee that retirees are not alerted that their benefits are subject to either policy until the end of their career and the start of retirement. Read more
Missouri Pension Board Rejects Push by Vivek Malek for China Divestment
On a voice vote last week, the 11-member board of the Missouri State Employees Retirement System rejected Malek’s call to punish the Asian economic powerhouse for COVID-19, spy balloons and the fentanyl crisis by pulling its pension investments in the Asian economic powerhouse. Read more
Illinois State High Court Skeptical Municipal Police and Fire Pension Consolidation Hurt Retirees’ Voting Rights
The Illinois Supreme Court on Tuesday heard arguments in a case alleging the state’s 2019 law that consolidated nearly 650 individual police and firefighter pension funds actually hurt retirees by diluting their voting power. Read more
CalPERS Pledges to Boost Low-Carbon Assets to $100B
The $462 billion pension giant will more than double those assets as it aims to halve the carbon-emissions intensity of its investments by 2030. Read more
Oklahoma Treasurer Criticizes Pension System For Taking Exemption His Office Exercised
Oklahoma Treasurer Todd Russ has publicly criticized one of the state’s largest pension funds for taking an exemption to a new law forbidding state pension funds from doing business with financial companies perceived to be hostile to the oil and gas industry. But Russ has quietly taken an exemption to the law when it comes to investments managed by his own office. Read more
MainePERS Begins Search for Deputy CIO
The $18.6 billion Maine Public Employees Retirement System has begun a search to hire a new deputy CIO. The search is being led by the executive search firm Hudepohl & Associates. Read more
New Hampshire System Urged to Boost Alternatives, Cut Equities
The investment committee of the $11.1 billion New Hampshire Retirement System recommended a change in strategic allocation, reducing exposure to equities and increasing allocations to alternative investments, confirmed Marty Karlon, spokesman for the pension system. Read more
Arkansas Public Employees Hires Harrison Street, William Blair
The board of the $10.3 billion Arkansas Public Employees' Retirement System on Nov. 15 approved a commitment to alternative real estate firm Harrison Street Real Estate Capital and hired William Blair to manage a U.S. growth equity mandate. Read more
Illinois Secure Choice Board Approves Investment Policy Statement
Illinois Secure Choice Board members approved the investment policy statement of the Illinois Secure Choice auto-IRA program, establishing investment principles to guide the plan lawmakers have built for workers in the state without access to an employer-sponsored retirement benefit. Read more
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