Public-Sector Pension Changes Create Residual Effects
Evidence mounts to show how cuts to public-employee pension benefits have reduced the ability of public-sector employers to compete with...
Tag: Public
NYC Pension Fossil Fuel Divestment Sparks ‘Modern ESG’ Investing Debate
ACCF agrees theoretically with the possibility that environmental and social factors are materially important to institutional investments, instead accusing New...
GASB Proposes Implementation Guide for OPEB Standards
The proposed Implementation Guide provides answers to questions intended to clarify, explain, or elaborate on the requirements of GASB Statement...
Most Public Pensions Received Insufficient Employer Contributions
An analysis covering the years 2006 through 2014 shows most of the 160 plans studied received insufficient employer contributions to...
PSNC 2017: Improving Your Plan Through the RFP Process
The time for evaluating a provider can also be opportune for revisiting services, fees and investment options.
Analysis Explores What Works Well for Public Pension Reporting
The analysis found certain themes surface with regard to systems that have developed robust communication and financial reporting initiatives.
The Challenge in Lowering Public Pensions’ Return Assumptions
Public plans that reduce their return assumption in the face of diminished near-term projections will experience an immediate increase in...
Most Public Pensions Saw Major Reforms Following Great Recession
In the wake of the financial crisis of 2008, public pension plans made several reforms including benefit cuts, and increases...
Former N.Y. Retirement Fund Official Charged for Pay-to-Play
The Securities and Exchange Commission also charged two broker/dealers in the scheme.
Municipally Sponsored IRAs Granted Safe Harbor
States were already granted the authority to establish their own IRA programs for private-sector workers; now the largest individual cities...
Arizona High Court Rolls Back 2011 Pension Reform
Estimates show the Public Safety Personnel Retirement System will have to pay contribution refunds and retroactive benefit increases up to...
Court Rejects Attempt to Restore Detroit Pension Benefits
Among other things, a federal appellate court found rolling back items implemented in Detroit’s bankruptcy plan would harm countless third-parties,...
Study Finds Pension, OPEB Costs Manageable for Most Governments
But, for the worst off states, counties and cities, four options exist to improve their situations, the study says.
California Pensions Must Disclose Fees Paid to Alternative Managers
Starting in 2017, public pension funds in California must disclose fees paid to private equity, hedge, venture and absolute return...
Court Upholds California’s Pension Spiking Law
The appellate court in California said public employees have a “vested right” to a pension that is a “reasonable” pension—not...
Illinois Teachers’ Pension Reduces Return Assumption Again
The trend of public-sector retirement systems reducing investment return assumptions has been going on since 2008.
Public Pensions Provide Retirement Income and Portability
Research finds that nearly all state retirement systems have features that allow for preservation of retirement income benefits even for...
President of Public Fund for NYC Correction Officers Arrested for Bribery
The president allegedly received kickbacks for investing the Correction Officers’ Benevolent Association’s Annuity Fund assets in a hedge fund.
N.J. Supreme Court Says COLAs Are Not a Contractual Right
Many New Jersey public sector retirees saw their cost-of-living adjustments (COLA) suspended under a pension-reform bill signed in June 2011.