Public pensions

Fitch Ratings joined Moody's in upgrading Connecticut this week as the state prepares to sell $1.8 billion of general obligation bonds.

The Chicago Board of Education passed a balanced $10.26 billion budget that leaves the city government to pick up non-teacher pension contributions.

Paul Chatalas, director of capital markets for the state, said the six series of bonds drew "aggressive bids."

This year's portfolio growth will save the city $2.18 billion over the next five years, Comptroller Brad Lander said.

The city has promised to contribute $625 million to the stadium project. The team, owned by billionaire Shahid Khan, is to come up with $625 million of its own.

Record contributions from public employers made up for below-expectation investment returns, according to a report published by the the Equable Institute.

The U.S. territory is struggling with debt and pension liabilities as its economy remains weak and federal aid is cut back.

The state was one of three where one person was responsible for deciding how to invest pension money.

Ahead of a 14-3 vote to pass the $7 billion spending plan, concerns were raised about new legislation affecting the city's public safety pension funds.

Controller Chris Hollins raised several concerns about the mayor's $7 billion budget for the fiscal year that begins July 1, including its use of reserves.