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: Cost of Living Adjustment
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.
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.
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
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
Georgia Teachers Win Big in Bill Meant to Help Retirement System’s Insolvency Woes
Legislation mandating stiff rules on state educators is scaled back after consistent opposition.
Newsmakers
Illinois Pension Buyout Program Falls over $400 Million Short of Goal
Buyout plans were expected to save $423 million, but only saved $13.1 million.
Regulation
Fort Worth Declares Pension Problem ‘Solved’
City employees approve plan to increase contributions to retirement fund.