Pension funds

A financial instrument that has appealed to many municipalities to remedy underfunded pension plans is once again looking like a losing borrow and bet scheme.

Mayor Lori Lightfoot, in a reelection fight, highlights first-term progress including lifting the city's bond ratings and bringing new investors to debt sales.

Most of the blame is placed on overall poor marketplace performance, strict monetary policy, and the war in Ukraine. 

The $242 million payment that's being made in addition to regularly scheduled contributions launches the city's policy aimed at staving off growth in its unfunded liabilities, a goal made all the more urgent by the beating pension funds are taking on their investments.

Strong 2021 contribution levels continue a trend that began with pension reforms made in the wake of the Great Recession.

A separate report showed the state's workforce declined by 1% between 2011 and 2021 while the workforce increased 5.1% nationally during that time frame.

Fitch and S&P downgraded the city as it grapples with rising costs, limited revenue prospects and a looming pension funding spike.

Coconino County has issued debt to fund its prepayment to the Arizona State Retirement System, while Pinal County has a bond sale pending.

Houston has built up a $344.8 million general fund balance and reduced its unfunded pension liability to about $1.5 billion ahead of a possible economic slump.

Former SEC Commissioner Paul Atkins and others are concerned about politics entering public pension funds.

A three-judge panel reversed a district court's ruling in favor of the city's Firefighters' Relief and Retirement Fund that the law was unconstitutional.

A way to look at city regeneration, infrastructure and the virtuous cycles of funding these initiatives through long-term pension investments obligations.

Most public pension funds are fragile not distressed, according to Equable.

State pension funds have lost much of the ground gained during the bull market of 2021.

The investors conference allows city officials to pitch investors on its pandemic recovery and future fiscal prospects while investors get the chance to scrutinize those efforts and pose their own questions.

Even as the U.S. deal pipeline builds, public pension funds still need to look outside the country when they want to invest in infrastructure.

New York State Comptroller Thomas DiNapoli and city Comptroller Brad Lander lauded the SEC’s proposal, saying environmental transparency is beneficial to the state and city pension plans.

The state-approved benefit change for some Chicago firefighters adds $180 million to the city's unfunded tab and $700 million to contributions over 30 years.

The Missouri State Employees Retirement System filed an amended complaint against Catalyst Capital Group Inc. accusing it of mismanaging investments. The firm counters the fund is trying to shift the blame for its own mismanagement.

Alex Doñé will leave the city comptroller's office at year's end when Scott Stringer's term ends; deputy CIO Michael Haddad will fill the interim position.