Pension obligation bond

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.

Far West municipal issuers sold $99.1 billion of debt last year, a 16% increase from 2019.

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.