Pension Update – CSFA’s weekly round-up of public pension news and comment

Here is a weekly round-up of news and opinion on the pension issue. Stay informed on this important issue and pass these on to neighbors and colleagues.

California Stories

CalPERS candidate wants re-do in the election he lost, saying pension fund broke the law. Read his letter.
https://www.sacbee.com/news/politics-government/the-state-worker/article237251374.html

Opinion: California’s local governments face increasing financial stress
https://timesofsandiego.com/opinion/2019/11/13/californias-local-governments-face-increasing-financial-stress/

CalPERS disability status is protected. Read the judge’s ruling
https://www.sacbee.com/news/politics-government/the-state-worker/article237255684.html

California’s Criminal Cops: Hundreds of offers misuse law enforcement databases
https://www.mercurynews.com/2019/11/12/californias-criminal-cops-hundreds-of-officers-misuse-law-enforcement-databases/

Pension funds could lose some shareholder clout
http://www.foxandhoundsdaily.com/2019/11/pension-funds-could-lose-some-shareholder-clout/

Fossil fuel investments cost California and Colorado pension funds over $19 billion, report finds
https://www.resilience.org/stories/2019-11-11/fossil-fuel-investments-cost-california-and-colorado-pension-funds-over-19-billion-report-finds/

California Public Employees Retirement System sells 135,477 Shares of Xerox Corp
https://caspercourier.com/california-public-employees-retirement-system-sells-135477-shares-of-xerox-corp-nysexrx/

Disability status for CalPERS retirees must remain private, court says
https://www.sacbee.com/news/politics-government/the-state-worker/article237182093.html

Pension Giant Calpers Buys Apple, Intel, Uber, Lyft Stock
https://www.newsmax.com/finance/streettalk/calpers-apple-intel-uber/2019/11/08/id/940840/

CalSTRS says SEC proposal weakens corporate accountability
https://www.ai-cio.com/news/calstrs-says-sec-proposal-weakens-corporate-accountability/

Declaring California a ‘compassionate state - that’ll fix everything
https://californiaglobe.com/section-2/declaring-california-a-compassionate-state-thatll-fix-everything/

California Public Employees Retirement System Acquires 27,034 Shares of Arrow Electronics, Inc.
https://caspercourier.com/california-public-employees-retirement-system-acquires-27034-shares-of-arrow-electronics-inc-nysearw/

NATIONAL NEWS

McClatchy seeks to have U.S. take over pension fund
https://www.wsj.com/articles/mcclatchy-seeks-to-have-u-s-take-over-pension-fund-11573672133

Pension costs continue to burden Philly school district, report says
https://www.inquirer.com/news/philadelphia-school-district-pension-teachers-psers-pennsylvania-pew-20191113.html

Funds double crypto asset exposure in Morgan Creek’s fund to 1%
https://www.coindesk.com/pension-funds-double-crypto-asset-exposure-in-morgan-creeks-fund-to-1

 

IRS Publishes 2020 Pension Plan Limitations
http://www.mondaq.com/unitedstates/x/863504/Employee+Benefits+Compensation/IRS+Publishes+2020+Pension+Plan+Limitations

Metro Detroit union sank $100M+into risky deals - now retirees could pay the price
https://www.freep.com/story/money/business/2019/11/12/risky-deals-carpenters-union-pension-crisis/3907578002/

Plan to merge strapped Illinois local pension plans raises doubts
https://www.ai-cio.com/news/plan-merge-strapped-illinois-local-pension-plans-raises-doubts/

Pension giant sees risk growing in corner of private-debt market
https://www.sfchronicle.com/business/article/Pension-giant-sees-risk-growing-in-corner-of-14828761.php

Public campaign calls for revolution in use of pension funds
http://sdg.iisd.org/news/public-campaign-calls-for-revolution-in-use-of-pension-funds/

Police poison pill puts Pritzker pension consolidation bill in jeopardy
https://capitolfax.com/2019/11/12/poison-pill-puts-pritzker-pension-consolidation-bill-in-jeopardy/

Some Ramsey County sheriff’s employees get retirement benefits on top of full-time salary
http://www.startribune.com/some-ramsey-county-sheriff-s-employees-get-retirement-benefits-on-top-of-full-time-salary/564690712/

Lightfoot to Pritzker on pensions: It’s your move
https://www.chicagobusiness.com/david-greising-government/lightfoot-pritzker-pensions-its-your-move

I’m moving to New Jersey. Will the state tax my pension?
https://www.nj.com/advice/2019/11/im-moving-to-new-jersey-will-the-state-tax-my-pension.html

Attorneys in Hall pension case point to recent Ga. Supreme Court decision in motion
https://www.gainesvilletimes.com/news/government/attorneys-hall-pension-case-point-recent-ga-supreme-court-decision-motion/

Oakwood pays off Ohio Police & Fire Pension liability debt
https://www.daytondailynews.com/news/local-govt--politics/oakwood-pays-off-ohio-police-fire-pension-liability-debt/z0uLyZGi7FnWdci0KPzp9K/

Smart money is on ethics, pension fix action during veto session - but no big bets placed on Chicago casino
https://chicago.suntimes.com/2019/11/10/20955350/ethics-pension-fix-veto-session-chicago-casino-federal-probe-real-estate-transfer

Lawmakers taking another stab at stabilizing PA public pension funds
https://levittownnow.com/2019/11/10/lawmakers-taking-another-stab-at-stabilizing-pa-public-pension-funds/

The Energy 202: Mitch McConnell’s surprise turnaround means coal miner’s pensions are a lot more secure
https://www.washingtonpost.com/news/powerpost/paloma/the-energy-202/2019/11/08/the-energy-202-mitch-mcconnell-s-surprise-turnaround-means-coal-miner-s-pensions-a-lot-more-secure/5dc47c65602ff1184c316363/