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The State Employees’ Retirement System has sunk to $34.5 billion, a quarterly decrease of 8.5 percent. The system funds more than 70,000 older state and public school retirees with pension payments that haven’t changed since 2004.
With government workers’ pay raises lagging the private sector’s, state and local officials will need to navigate through different measures of inflation to fairly calibrate wage and pension increases.
The U.S. Census Bureau found that nearly half of adults ages 55 to 66 had no personal retirement savings in 2017. But a state-sponsored private retirement auto-IRA savings program could give many retiring Kansans a break.
A long-running lawsuit alleging collusion in the securities lending industry may be heading for class-action status. That could be a big deal not only for pension funds nationwide but also for the future of a $2.5 trillion marketplace.
A new law requires the state’s pension system to divest from fossil fuel companies, but making that happen while considering a constitutional requirement to pension members will complicate the process.
If stocks keep declining, the outlook for pension obligation bonds improves. State and local financial teams should prepare now for a cyclical opportunity.
If autocracy is moving the world toward deglobalization, geopolitical investment principles should complement environmental, social and governance factors. There’s a lot for pension boards and investment managers to keep in mind.
A Pew analysis finds that a third of states lost residents in 2021. Analysts are debating whether these shifts and slowing population growth rates throughout the country really are signs of “demographic doom.”
Employees are 15 times more likely to build retirement savings if they have automatic payroll deductions at work, according to AARP. But such plans don't exist for about 55 million American workers.
Many want to sanction Putin and Co. at every turn, but it’s a mistake to move too quickly. Pension funds actually don’t hold that much in Russian assets, and they're sitting ducks for crafty, amoral traders.
The state’s investment in companies in Russia and government debt issued by Russia amounts to $218 million, less than half of 1 percent of the state’s total retirement funds, and has been in decline since 2014.
A bill introduced by the state Senate would require CalPERS and CalSTRS to divest a combined $9.9 billion and prevent future investment in companies considered to have the greatest potential for future emissions.
To combat inflation, the central bank will be raising interest rates and shedding a big chunk of its $8 trillion bond portfolio. Its actions will ripple through the world of state and local finance.
Last year, pension plans enjoyed big returns in the market, bringing their balances back to levels not seen since the Great Recession. They are still $1 trillion short, however.
Many years ago, public financiers woke up to the problem of funding “other post-retirement benefits,” but then some of them went back to sleep. Younger public employees should demand an actuarial wake-up call.
Barring unknowable virus mutation scenarios, state and local fiscal managers have the opportunity to navigate trends and crosscurrents already underway to make better decisions. One factor figures into almost everything: inflation.