Pensions
Public Pension Benefits Tumbled More Than $140,000 in Last 18 Years, per Equable Institute
The institution’s report attributed the sharp decline to policy changes following the Great Recession.
Tag: COLA
Pensions
Ohio STRS’ 1.5% COLA ‘Doesn’t Go Far Enough,’ Says Retirement Group
State law requires a 2% COLA unless it would impair the fiscal integrity of the retirement system.
Asset Allocation
Equity Gains Buoy Ohio School Employees’ 7.4% Return in Fiscal 2023
The School Employees Retirement System of Ohio topped its benchmark and raised its asset value to $17.8 billion.
Regulation
Key Government Data, Such as Unemployment and Inflation, Would Not be Published During a Shutdown
Government data collection agencies, such as the Bureau of Labor Statistics, would shut down completely absent a continuing resolution.
Pensions
Ohio STRS Board Approves 1% Cost-of-Living Adjustment
The teachers’ pension fund also delays increasing the minimum years of service to be eligible for retirement benefits.
News
Auditor of the State Completes Special Audit of Ohio STRS
Ohio STRS’ receives a clean audit of its operational efficacy in transparency, investment management, cost of living adjustments and usage of regional offices.
Asset Allocation
Record Returns Spur NY to Cut Assumed Return Rate to Below 6%
Employer contributions are also being reduced, while COLAs will be increased.
Pensions
Ohio Retired Teachers Association Sues Ohio STRS for Transparency
The group says the $80 billion pension fund refuses to turn over public documents it needs to conduct an audit.
Pensions
Illinois Governor Signs Chicago Firefighters’ Pension Bill into Law
Critics say it will more than double the city’s annual pension costs to $30 million.
Newsmakers
Vermont Pension Reform Plan Blasted by State Teachers, Workers
Proposal would require public employees to contribute more, work longer, and earn less.
Asset Allocation
Exclusive Coverage: CIOs Assess How Pension Fund Investors Can Be Successful After COVID-19
Better governance, flexibility, and clever investment strategies and solutions can prepare pension funds for the future, plan leaders say.
Pensions
COLA Freeze Removed from Pension Bailout Plan
American Rescue Plan Act amendment from Chuck Schumer removes cost-of-living adjustment freeze.
Pensions
Public Pensions Increasingly Rely on Investment Earnings
NCPERS study finds public retirement systems derive 71% of revenue from investment returns.
Pensions
Vermont Treasurer Calls for Pension Cuts for State Employees, Teachers
Workers would take on up to 78% of the increase in liabilities and 88% of the contribution increases.
Research
Milwaukee Could Learn a Thing or Two from Wisconsin’s Healthy Pension
Research from Wisconsin Policy Forum dissects the disparities between the state’s three largest pensions and lessons to be learned from its best.