Public pensions

The system is seeking about $7.7 million of past due contributions and loans.

Holders tendered about 75% of U.S. Virgin Islands Public Finance Authority bonds that were eligible for a tender offer.

New York State Comptroller Thomas DiNapoli and city Comptroller Brad Lander lauded the SEC’s proposal, saying environmental transparency is beneficial to the state and city pension plans.

The Virgin Islands Public Finance Authority and Matching Fund Special Purpose Securitization Corporation plans to price $793.025 million of tax-exempt and $124.960 million of taxables.

Texas says it will crack down on financial companies it perceives to be mistreating the fossil fuel industry as it implements a 2021.

A bond-funded pension buyout extension and automatic transfers into the state's now meager rainy day and pension stabilization funds are being discussed by Illinois lawmakers as they look to wrap up their spring session next month.

The city says it can't afford a pension fund change that forces it to pay down unfunded liabilities more quickly; it may also lobby state lawmakers.

A Michigan House Republican plan would direct $1.15 billion of grants to local municipal pensions that agree to abide by certain conditions.

Lawmakers are being asked to put off a deadline to consolidate suburban Chicago and downstate police pension assets and extend the deadline for funds to reach a 90% funded ratio by 10 years.

The board said a stay would inflict serious harm on Puerto Rico by plunging it into “financial chaos,” send the bankruptcy process “back to square one,” and would “needlessly delay the commonwealth’s economic recovery.”

Illinois' burdensome pension tab and questions over whether revenue can keep pace with spending in the long term pose strains, but the governor's plan to use surpluses to pay bolster the rainy day fund and pension contributions and pay down bills moves the state in the right direction.

If all goes to plan, officials say the deal would prevent the islands' pension system from running out of money.

Virgin Islands Sen. Kurt Vialet said he expects the legislature to approve the refunding bill by Monday. The current bill does not include an interest rate cap that killed a refunding deal attempted in September 2020.

Swain rejected several legal challenges to the Plan of Adjustment. The Oversight Board must file a final amended plan by Friday.

One observer questions if enough money is available.

This would be fourth attempt to refund the islands' debts. Moody's Investors Service projects the island's pension fund will run out of cash by the start of fiscal 2024.

Pension laws had been perhaps the key issue that could have scuttled the island's debt restructuring deal.

The New York State Common Retirement Fund also said it invested $2 billion in an index focused on reducing the risks of climate change and capitalizing on opportunities in the transition to a low-carbon economy.

The Illinois Municipal League will press lawmakers to support giving local governments more time to hit a 90% funded ratio and lowering the target to 80%.

Alex Doñé will leave the city comptroller's office at year's end when Scott Stringer's term ends; deputy CIO Michael Haddad will fill the interim position.