Pension obligation bond

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

The referendum passed Tuesday by a 70% to 30% margin an an election with miniscule turnout.

A spike in POB issuance last year that was spurred by low interest rates, roaring stock markets, and other factors is likely to wane.

Mayor Jorge Elorza said the reworked bond proposal was better than the larger one put before the state Legislature last year.

The Metropolitan Water Reclamation District of Chicago now has $600 million of pension obligation bond authority as it aims for a 100% funded ratio by 2050.

Illinois' nearly exhausted $1 billion of GO bonding authority for existing pension buyout programs would get a $1 billion infusion under pending legislation.

Skokie held on to its double-A tier ratings as it preps a pension obligation bond issue to bring its public safety pension funding ratios to 90%.

The Chicago suburb is planning a nearly $100 million issue to refund, restructure debt and pay down its unfunded public safety pension obligations.

There are $8.127 billion of negotiated deals on tap and a mere $367.4 million of competitive loans slated, none over $100 million. Thirty-day visible supply totals $9.9 billion and net negative supply is at $8.4 billion.

Quincy officials say they are getting out front of a state directive for full local funding by 2037.

Illinois local governments weighed down by rising public safety pension contributions are turning to pension obligation bonds.

The city's high leverage drew a two-notch Moody's downgrade ahead of a pension obligation bond deal to pay the unfunded liabilities of its public safety plans.

The taxable bonds will reduce the unfunded actuarial liability of, and employer contribution rates to, the Kansas Public Employees Retirement System.

Mayor Jorge Elorza’s $850 million POB proposal sits stalled in the state legislature while state General Treasurer Seth Magaziner called the legislation too risky.

Like the city's pension funding revisions, the park district's plan ramps up to actuarial payments but it's alone in aiming for a 100% funding target.

A bill would authorize its capital city to issue up to $850 million in pension obligation bonds if it can get a true interest cost of 3.5% or less.

Low interest rates, looming CalPERS amortization changes and pandemic-related budget hits were cited as factors in the record year for California POB deals.

In what one critic called a "riverboat gamble," Mayor Jorge Elorza in Rhode Island's capital city seeks $704 million to pump into a severely unfunded system.

The state Supreme Court upheld with the original circuit court ruling tossing out the lawsuit, which sought to invalidate more than $14 billion of GO bonds.

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.