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"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."
July 7 -
While all four of Chicago's weakly funded pension funds hit a milestone by posting modest increases in their funded ratios in 2021, they lost ground in 2022 due to investment losses driving up the city's pension burden to $35.4 billion
July 5 -
Government says it is unsure how it will be able to make debt and pension payments.
July 3 -
The Police and Fire Retirement System lacks authority to shift to a 20-year amortization of unfunded legacy liabilities from the 30-year term laid out in the city's bankruptcy exit plan, according to a judge's ruling that eases one fiscal pressure point for the city.
June 26 -
The task force expects to "form sub-groups to address specific pension issues and dedicated revenue as part of a comprehensive and balanced approach."
June 22 -
The fiscal 2024 budget proposal leans on federal funds, better-than-expected tax collections, and a drawdown on reserves to bankroll a wide array of capital work and a boost to state employee salaries.
June 16 -
Houston is one of the largest U.S. cities to set up a trust to help fund non-pension retiree benefits such as healthcare.
June 12 -
The report provides the first step in assessing what level of benefit enhancement is needed before further state action is taken on Tier 2 pension benefits.
June 9 -
"It's a quiet revolution," said Reason Foundation's Robert Poole.
June 6 -
To date, 332 of the 357 funds have transferred approximately $9.1 billion in assets to the consolidated fund, with most holdouts participating in the lawsuit.
May 30