Illinois Pension Shifts Further Pressure State Government
Changes in assumed investment return rates at four of Illinois’ five state employee pension funds, as well as other revised assumptions in areas like life expectancy, are raising pressure on the state to tackle pension reforms.  more »
Three of Texas’ largest cities have already paid a price for unfunded pension obligations in the form of rating downgrades. Now there are worries that pension obligations could squeeze their ability to issue debt for infrastructure.  more »
The Chicago Teachers Union is moving closer to a strike that would mark a setback in the junk-rated Chicago Public Schools’ efforts to stabilize its finances.  more »
A long-awaited overhaul of New York’s Pennsylvania Station is now full steam ahead, according to Gov. Andrew Cuomo, who touted sweeping plans Tuesday to create a new “world-class” transportation hub.  more »
West Virginia has been downgraded for the second time in four months amid the ongoing decline in the coal industry that underpins the state’s economy, as Fitch Ratings lowered the state’s GOs to AA from AA-plus.  more »

Rhode Island General Treasurer Seth Magaziner, in an in-depth chat with Bond Buyer northeast regional editor Paul Burton, explains how the state can rebound through infrastructure. He also talks about his push to require investment firms to reveal public pension fees, lessons learned from the 38 Studios debacle, and his teaching days in post-Katrina Louisiana early in his career.

The orders provide some insight into what the Securities and Exchange Commission considers to be a material false or misleading statement in an offering document.

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