Public pensions

The governor wants the first full actuarial contribution in 25 years, spurring discussion about what else one of the nation's lowest-rated states should do.

New York State’s public sector entities have more than $300 billion of unfunded other post-employment benefit liabilities, which accounts for a quarter of the nation’s total of $1.2 trillion of other post-employment benefit debt.

Gov. J.B. Pritzker is still mulling action on legislation Mayor Lori Lightfoot says will add to the city's considerable fiscal burdens.

"We need to make realistic assumptions regarding our ability to achieve expected returns in the future," said North Carolina State Treasurer Dale Folwell.

The city's newest budget forecast says revenues in the current fiscal year will fall short of projections by $86 million.

The pension system is in an “accelerating death spiral,” he said. In contrast, he offered good news about the territory's water and power authority.

The Illinois legislature passed a pension benefit enhancement for a group of Chicago firefighters. If Gov. J.B. Pritzker signs it, local taxpayers will pay up.

With interest rates at historic lows and stock market returns at record highs, Tucson sees a ripe opportunity to issue pension debt.

State Treasurer Dale Folwell said his office was rewarded for staying the course on a decades-long conservative management strategy.

Florida's triple-A ratings face an ongoing vulnerability because of the fiscal and economic impacts of COVID-19, its annual debt report warns.

Senate Majority Leader Mitch McConnell suggested state and local governments would use stimulus to shore up pension plans.

Joe Torsella still advised that such a move to backstop the commonwealth's two largest public retirement funds is no panacea.

Fiscal 2020 added another $3.8 billion to the state's unfunded pension liabilities, according to a new state report.

West Covina faces shrinking reserves and growing liabilities. Its mayor responds that it is working on solutions, but the pandemic challenges its efforts.

As state and local governments work to apply the California Supreme Court’s rulings, they are also bracing for the next wave of litigation.

Gov. Albert Bryan Jr. is working with the territory's lawmakers on an internet sales tax and other revenue ideas to avoid a 42% pension benefit cut on Jan. 1.

The state's backlog of unpaid bills will grow to $35 billion by 2026 if it doesn't make any structural budget fixes, according to a new forecast.

Manhattan Institute recommendations include paring back “unusually generous” benefits and transitioning new employees toward a defined-contribution system.

In a federal complaint, they accuse the fund manager of increasing risky bets while the market was imploding from the coronavirus pandemic.

Recent orders from the California Supreme Court in public pension cases indicate litigation on the matter has not ended.