Pension funds

State and local pension funds are "surviving but not thriving," said Equable in its State of Pensions 2025 report.

This year's portfolio growth will save the city $2.18 billion over the next five years, Comptroller Brad Lander said.

Record contributions from public employers made up for below-expectation investment returns, according to a report published by the the Equable Institute.

Seventeen states now allow or are considering legislation that allows reserve funds to be invested into cryptocurrency while sixteen are moving towards allowing crypto investments in their pension funds.

The largest issuance the Local Government Commission approved was $387 million of bonds for Mecklenburg County.

Pension analysts are calling for higher contributions even as financial conditions improve.

The passage of a $11 billion plan, which aims to fully fund police and fire pensions in 30 years, comes as the retirement system is pushing its own plan in court.

In this episode, Howard Cure, Director of Municipal Bond Research at Evercore Wealth Management, discusses the improving state of public pensions, the ongoing challenges faced by states like New Jersey and Illinois, and the risks associated with pension obligation bonds.

Public pensions are averaging a significantly improved 80.6% funded ratio, but took on riskier investments to obtain higher returns, which would be problematic in a market correction.

"It would be irresponsible for us to ignore factors that can fundamentally impact the long-term viability of investments," said CalPERS interim Chief Investment Officer Dan Bienvenue of climate risks.

A city council committee received staff recommendations to fully fund the Police and Fire Pension System within 30 years.

Since war broke out on Oct. 7 between Israel and Hamas, over $1.64 billion of Israel bonds have been sold to more than 35 U.S. states, counties, cities and municipalities.

The city is offering $567.6 million of debt in competitive sales Thursday as rating agencies keep a close eye on pension funding progress.

The initiative proposed by business interests would amend California's constitution to prevent the state from approving tax increases without a two-thirds majority vote of the Legislature and voter approval.

It's a color-coded controversy about how far the fight over ESG and green investing precepts will affect public finance this year, with the latest skirmishes involving Bank of America and New York and New Hampshire.

"Preserving a livable planet and a thriving economy will require a collective global commitment both to the phase-out of fossil fuels and to massive new investments," said New York Comptroller Brad Lander.

The higher returns offered by alternatives also carry higher risk.

"Wokeism" in public finance is an increasingly popular talking point among conservatives.

Surpassing $150 million in total investments, New York, Illinois, Pennsylvania, Texas, Ohio, Arizona and Georgia have joined Florida, Miami-Dade and Palm Beach counties and Miami Beach in supporting Israel financially in the wake of the deadly terror attacks by Hamas.

The city, which issued POBs in 2005, is awaiting recommendations from an actuary on how to deal with a $3 billion unfunded liability in its public safety fund.