Pension obligation bond

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.

Joe Torsella still advised that such a move to backstop the commonwealth's two largest public retirement funds is no panacea.

The state attorney general is asking the court to clarify the legal standard for denying taxpayer actions and decide if the state constitution limits GO borrowing to capital purposes.

“What purpose do reserves serve if we don't utilize them in times when you have a problem?” one alderman asked.

Municipal issuers in the Far West sold $38.7 billion in bonds during the first six months of 2020, 8.8% more than they did the year before.

The structure in which bonds are backed by a lease of city streets is being used in the Southern California cities of Torrance and West Covina.

Without commenting on the legal merits laid out so far in the case, an appellate court panel concluded the lawsuit met the threshold to proceed as a taxpayer action.

The Illinois Public Pension Fund Association says POBs could offer a potential fix for some but some market participants urge caution due to POBs' perils.

Arlington, Texas, has weathered the pandemic with its ratings intact as it awaits the return of tourists and sports fans.

The bill was set aside as state lawmakers limit legislation to the issues of housing, wildfires and coronavirus. Meanwhile, more cities and counties issue POBs.

State Sen. John Moorlach thinks cities and counties should have to obtain voter approval before issuing pension obligation bonds.

Huntington Beach approved a resolution to refinance up to $436 million of public employee pension debt with pension obligation bonds.

Tom Kozlik of Hilltop Securities explores how pension underfunding woes continue to weigh on public finance. Paul Burton hosts.

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

Xay Khamsyvoravong, chairman of the Providence Water Supply Board, explains how this trending accounting tool could help offset Rhode Island’s local pension liabilities. Paul Burton hosts.

Market observers says Lori Lightfoot should go light on one-time maneuvers, avoid fiscal gimmicks, and move the city toward structural balance.

Bloomfield Township it cutting its budget after voters rejected a tax levee that was to help it meet its $161 million in unfunded liabilities.