Public pensions

S&P Global Ratings cited the state's structurally balanced budgets and progress on improving the finances of its pension system.

The GASB is looking for comments on its upcoming technical agenda while rolling out a series of videos aimed at helping stakeholders understand government financial reports.

Illinois Gov. JB Pritzker resurrected a 2024 pension proposal that would increase the state's funding goal to 100% by 2048.

The governor, in the final year of his term, asked lawmakers to approve reforms that would fix the Virgin Islands Water and Power Authority's balance sheet.

After Mayor Brandon Johnson split the city's $260 million advance pension payment, more than 30 aldermen introduced a resolution calling for a special hearing.

Public pensions have notched some improvements as the uncertainty surrounding state budgets and the effects of tariffs raise concerns.

A California Supreme Court ruling could eliminate the need for validation lawsuits before issuing pension obligation bonds, the winning attorneys say.

Dallas and police and fire pension officials approved a funding agreement that ends litigation filed by the retirement system last year.

Connecticut transferred about $1.5 billion in excess budget reserves to its state employees' and teachers' pensions, said State Treasurer Erick Russell.

"Illinois is just pure mismanagement," Ryan Frost, managing director of the Reason Foundation's Pension Integrity Project, said.

Brandon Johnson released his $16.6 billion 2026 budget last week. The budget calls for new revenue sources, but avoids property tax hikes.

State and local pension funds are "surviving but not thriving," said Equable in its State of Pensions 2025 report.

The state's government now expects general fund revenues to decline 2.3% in the current fiscal year from the previous fiscal year.

Chicago Mayor Brandon Johnson's Financial Future Task Force released an interim report this week on Chicago's structurally imbalanced budget.

The rating agency cited New Jersey's "robust budgetary surplus" while continuing to make actuarially based pension contributions.

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.