Pension funds

Three of the biggest New York City pension funds have selected advisors to help divest from fossil fuels.

Assets in the so-called Smart Plan have risen to $10.06 billion as of Dec. 30 from $4.5 billion in 2009, said state Treasurer Deborah Goldberg.

The state will pool the assets of 650 public safety pension funds outside Chicago into two new funds: one for police and one for firefighters.

The Illinois city faces garnishment of state funds to make up for pension shortfalls, threatening its ability to deliver core services, Moody's said.

Illinois lawmakers wrapped up the first half of their annual fall veto session leaving tough legislation for the second half, beginning Nov. 12.

J.B. Pritzker wants lawmakers to pool the assets of hundreds of local public safety pension funds outside Chicago into two statewide funds.

The continued low interest rate environment is compelling more cities to explore issuing the bonds.

Researchers found many pension plans have already taken significant steps to assure their long-term sustainabilty.

The Pritzker administration says it can now afford to make the full originally scheduled pension contribution without re-amortizing the funding timetable.

With a trillion dollar infrastructure deficit looming and a bill not yet on the table, many are wondering how pension funds could help.