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New Jersey’s shift toward giving firefighters and police officers control of their pension fund decisions may hamstring future efforts to control benefit costs, according to Moody’s Investors Service.
July 30 -
The pension funding problems reflect several decades of underpayments, said Rep. Jonathan Steinberg, who chairs a commission formed to tackle the problem.
July 30 -
U.S. Virgin Islands Gov. Kenneth Mapp said the project will lead to an additional $615 million in direct revenues for the government over the next 10 fiscal years.
July 27 -
The Public Employee Pension Transparency Act (HR 6290) would prohibit states and localities from issuing tax-exempt bonds unless they file annual reports on their public pension systems to the U.S. Treasury Department.
July 27 -
Vicki Fuller is retiring after six years as the state pension fund’s chief investment officer.
July 27 -
The fund returned 8.03% in FY18, ahead of its 7% annual target and ahead of its own benchmark, which returned 7.59%.
July 26 -
The University of Illinois at Chicago has launched the Government Finance Research Center.
July 24 -
The Harvey City Council will consider an agreement that allows it to keep some state funds being claimed by its pension funds.
July 18 -
James Spiotto warns that communities with pension problems face potential population loss if they raise taxes too high and are not able to maintain public service levels.
July 17 -
States and localities can’t continue to postpone resolving their pension problems or they will crowd out essential services and infrastructure and lose population, Chapman Strategic Advisors managing director James Spiotto says in a paper to be delivered in Washington on Tuesday.
July 16