Public pensions

Continued commitments to meeting long-term liabilities under Gov. Phil Murphy were cited as key in a slew of recent bond rating upgrades for the Garden State.

Legislation making its way through the state legislature enhances pension benefits for Tier 2 Chicago firefighters but the Civic Federation is urging lawmakers to slow down.

Increasing electric rates to pay the debt would lead to economic contraction, a University of Puerto Rico professor said.

Comptroller Brad Lander said the pension funds adopted a measurable and transparent plan that could serve as a model for other investors.

The authority hopes to have solar and wind provide 30% of the islands' electricity within two years.

The bill creates an ESG Oversight Committee to compile a list of financial services providers determined to be "discriminating" against the fossil fuel, firearm, or ammunition industries.

Nossaman renames its pension practice to reflect a broader service offering as Michelle McCarthy comes on board.

The demographics of the public-sector workforce are likely to change, even as many state and local governments consider increasing wages and improving other benefits to attract and retain employees.

Illinois' net position for governmental activities remains deep in the red but after years of falling further behind, it trimmed the gap in fiscal 2022.

Most of the blame is placed on overall poor marketplace performance, strict monetary policy, and the war in Ukraine. 

The $242 million payment that's being made in addition to regularly scheduled contributions launches the city's policy aimed at staving off growth in its unfunded liabilities, a goal made all the more urgent by the beating pension funds are taking on their investments.

Strong 2021 contribution levels continue a trend that began with pension reforms made in the wake of the Great Recession.

As rising interest rates take pension obligation bonds off the table, city finance managers are looking to other methods to manage unfunded pension obligations.

Illinois' unfunded pension tab improved slightly in 2022 because 2021 returns still play a role in the actuarial assessment through smoothed investment returns.

A separate report showed the state's workforce declined by 1% between 2011 and 2021 while the workforce increased 5.1% nationally during that time frame.

Fitch and S&P downgraded the city as it grapples with rising costs, limited revenue prospects and a looming pension funding spike.

Major cities are generally doing well despite economic volatility.

While only 29 city related pension plans in 2021 reported future fail dates for meeting retirement benefits, that number could worsen this year as investment returns tumble.

Ratings for Kansas have not changed since it was downgraded three times during the prior decade due to structural budget problems in the wake of tax cuts.

The consolidation of suburban and downstate firefighter pension fund assets is nearly complete but litigation is delaying the police consolidation.