Public pensions

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.

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.

New Britain is reaping a rating reward from higher revenues and stronger budgetary practices, including full actuarial funding of its pensions.

In the coming year, we'll find out if public pension disclosure and transparency have improved enough to protect municipal bond investors.

Seventeen states now allow or are considering legislation that allows reserve funds to be invested into cryptocurrency while sixteen are moving towards allowing crypto investments in their pension funds.