Wealth management

"After more than 36 years as investor and leader, Peter has decided the timing is right to begin his own retirement next year," said Rich Kushel, senior managing director at BlackRock.

Mentoring and a passion for helping people cultivate and achieve goals remain important to Matthew Stitt.

The city, which issued POBs in 2005, is awaiting recommendations from an actuary on how to deal with a $3 billion unfunded liability in its public safety fund.

For the three-month period ending June 30, the fund's investments returned about 3.08%.

Treasurer Dale Folwell said the law protects retirees' money from being used for what he called Wall Street's "wacktivist" agenda.

"Recent months have been trying for investors," said State Comptroller Thomas DiNapoli, "and there is no doubt that challenges lie ahead, with concerns over a recession and potential interest rate increases, but the state pension fund is well-positioned to weather these storms."

Now that economic activity has largely resumed, investors and analysts are taking another look at longer-term issues, and the volatile stock market performance since the pandemic is raising concerns.

"We're in a market right now where there's heightened volatility in prices, inconsistent pace of supply, and for investors who need to put money to work, muni ETFs continued to play that role," CreditSights' Pat Luby said.

James Pruskowski, a nearly 30-year veteran of BlackRock, will be CIO and head of business development for 16Rock Asset Management LLC, a newly formed affiliate of 16th Amendment Advisors LLC.

Stabilizing pension debt as a share of GDP re-frames the discussion on pension fund problems.

The $750 million in state grants will go to eligible local government public pension funds that have funded ratios under 60%.

Opponents warned the measures could roll back 10 years of state efforts to improve funding for the Kansas Public Employees Retirement System.

Changes to the district's pension code now enshrined in state law put it on a path to full funding in 30 years after voters approved a property tax levy hike.

Plaintiffs who challenged the legislation plan to ask the Illinois Supreme Court to hear the case. Meanwhile, the consolidation process has moved forward and the majority of funds have transferred their assets.

Todd Russ, who took office Jan. 9, is vetting banks and financial institutions to determine if they are 'boycotting' Oklahoma's fossil fuel industry.

A financial instrument that has appealed to many municipalities to remedy underfunded pension plans is once again looking like a losing borrow and bet scheme.

Mayor Lori Lightfoot, in a reelection fight, highlights first-term progress including lifting the city's bond ratings and bringing new investors to debt sales.

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.