Administration June 22, 2012

State Pension Funding Levels Recovering

June 22, 2012 (PLANSPONSOR.com) - U.S. states' pension funded levels are gradually recovering from their fall in 2010, according to Standard & Poor's Ratings Services' annual survey.
Reported by

The survey report, “The Decline in U.S. States’ Pension Funding Decelerates, But Reform And Reporting Issues Loom Large,” says the rate of decline has decelerated, and in some cases, pension funded levels are gradually improving. Still, municipal market participants are looking to improve pension plan reporting and disclosure.

The report found that stakeholders are increasingly interested in pension plan overhaul, spotlighting government pension liabilities. According to John Sugden, a credit analyst at Standard & Poor’s, the “active debate over reform and reporting [has led to] a more significant focus on pension reform, with an emphasis on sustainability, than we have observed in more than 20 years.”

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The plans included in the survey receive at least some of their funding from the states, and generally are reported within the states’ financial disclosure. Portions of the pension liabilities are funded by local governments and other governmental entities and are not direct obligations of the states.

The report is available to subscribers of RatingsDirect on the Global Credit Portal, or may be purchased by calling (212) 438-7280 or sending an e-mail to research_request@standardandpoors.com.

– Sara Kelly 

Deals and People June 22, 2012

LACERS Selects CIO

June 20, 2012 (PLANSPONSOR.com) - The Los Angeles City Employees’ Retirement System (LACERS) hired Rodney L. June as Chief Investment Officer (CIO). 
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This appointment marks the return of June to LACERS, where he served as an Investment Officer II from 1998 to January 2008. June will start in his new position on July 10.

Since 2008, June was the Chief Investment Officer of the State of Hawaii Employees’ Retirement System, where he oversaw an $11 billion portfolio. 

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June earned his bachelor’s degree from California State University, Long Beach, where he was a member of Beta Gamma Sigma. He has a master’s degree in Business Administration from Auburn University. 

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