Newsmakers
Michigan House Considers $1.5 Billion in Grants for Local Pensions
The bill is targeted at underfunded pensions throughout the state.
Tag: Public Pension
Unfunded Liabilities: How Three Public Pensions Found Themselves in Crisis
And how they are clawing their way out.
Manager Selection
Sean Bill, CIO of Santa Clara Valley Transportation Authority, to Retire in March
He will be taking a new position as chief investment officer of Bay Area private credit fund Prime Meridian Capital Management.
Newsmakers
Private Equity Drove CalPERS’ Strong Q4 2021 Returns
The pension fund reported 1.2% returns over its benchmark for calendar year 2021.
Newsmakers
Risk Aversion Strategy Causes Colorado Pension to Lose Out on Millions
Lawmakers required the fund to keep cash in a low-interest bank account to avoid risk.
Newsmakers
City of San Diego Will Retroactively Replace Thousands of Employees’ DC Plans With Pensions
The payments will mark an end to a nine-year legal battle.
Newsmakers
Michigan Pension Tax Likely to Be Removed
Currently, there are only 12 states that do not tax retirement income. Michigan might become the 13th.
Newsmakers
This Local Pennsylvania Police Pension Fund Is About to Run Out of Benefits. How Did That Happen?
The pension board is accused of opening the doors for pension spiking.
Pensions
Despite Market Rebound, Rising Unemployment Hurt Public Pensions
A report from the Center for Retirement Research finds that layoffs led to increased contribution rates.
Pensions
Study Suggests There Is No Imminent Public Pension Crisis
Reforms enacted by many plans will cause benefit cash flows to decline significantly, paper finds.
Pensions
US Public Pensions’ Funded Ratio Soars to Record in Q4
The number of plans with funded levels above 90% nearly doubled during the final quarter of 2020.
Asset Allocation
Public Pension’s Share of Government Spending More Than Doubles in 16 Years
Percentage of state and local spending on pensions jumps to 5.2% from 2.3% between 2002 and 2018.
Pensions
Public Pensions Fail to Rebound with Market Rally
Report says the worst of the COVID-19 recession has ‘yet to be fully felt by state governments and public retirement systems.’
Coronavirus - COVID-19
US Public Pensions’ Funded Ratio Declines More Than 2% in 2020
Despite funded levels falling to 70.7%, the 100 largest public plans have ‘shown great resiliency’ in the face of the pandemic.
Asset Management Culture
Public Pensions Face a COVID-19 Conundrum
Scholars disagree over how to deal with the threat of exhausting a plan’s assets.