Pension funds

While the outgoing New York mayor's final plan showed some bright spots, enough remains to test Eric Adams when he takes office.

Chicago Mayor Lori Lightfoot is aiming to present her pick among five casino bidders to the City Council early next year.

The bank will also be an investment account manager for the state's $12.5 billion Short-Term Investment Fund, Treasurer Shawn Wooden said.

The popularity of cryptocurrency may drive investment by public pension funds.

Massive market returns coupled with rising contribution rates, led by worst-funded states like Illinois and New Jersey, boosted state retirement systems.

Melissa Norcia, appointed Tuesday, will begin her new duties on Sept. 15.

Most recently, he was a principal investment officer and head of global equity at the Los Angeles County Employees Retirement Association, or LACERA.

Illinois' single-employer pension plans are straining the budgets and ratings of those local governments without the tax base, flexiblity, and fiscal discipline to tackle rising costs, S&P says in a special report.

Chicago's net pension liabilities increased by $1.1 billion in 2020 to almost $33 billion.

The change represents a doubling of related investments, Mayor Bill de Blasio and Comptroller Scott Stringer announced.

Paul Gray, co-founder of IronHold Capital, links the unfunded liability problem to bad public policy decisions and bad hedge-fund actors. Paul Burton hosts (13 minutes).

The next phase of pension risk analysis will be different and more challenging: Assessing the long-term impacts of individual jurisdictions’ choices in the context of their unique workforce demographics, benefits and salary structure, and pension funding status.

Illinois' pension crater reaches more than $300 billion under Moody's formula.

California teachers cited the risk of exposure to COVID-19 and the challenges of remote teaching as reasons for retiring early.

This year's pension debt volume could match that of 2020, which was the highest since the financial crisis year of 2008, industry leaders say.

With interest rates at historic lows and stock market returns at record highs, Tucson sees a ripe opportunity to issue pension debt.

Illinois lawmakers chose a new speaker this week after a lame-duck session that could add to Chicago's and the state's budget strains.

New revenue from a graduated tax without an accompanying long-term plan to tackle the state's fiscal woes won't solve them, the Civic Committee of the Commercial Club of Chicago warns.

Treasurer Deborah Goldberg and the commonwealth's Pension Reserves Investment Management board look to improve measurement of environmental, social and governance data.

Despite market volatility, the North Carolina Retirement Systems reported second quarter assets were valued higher than before the state’s COVID-19 shutdown.