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 News
Many millions in budget for IT work on pension, employment systems
https://insider.govtech.com/california/news/many-millions-in-budget-for-it-work-on-pension-employment-systems
PBGC approves funding for California retail clerks pension plan
https://news.bloomberglaw.com/employee-benefits/pbgc-approves-funding-for-california-retail-clerks-pension-plan
Two Bay Area pension plans receive $1 billion bailout
https://www.sfchronicle.com/politics/article/pension-bailout-18194603.php
In blue California, lawmakers struggle to drop fossil fuels from state pensions
https://lailluminator.com/2023/07/12/in-blue-california-lawmakers-struggle-to-drop-fossil-fuels-from-state-pensions/
National News
NY State pension fund reports investment loss, tax increases could follow
https://www.newsday.com/business/common-retirement-fund-penisons-investment-return-dinapoli-kpki2mnb
Maryland state retirement and pension system adds stake in Rithm Capital Corp.
https://beststocks.com/maryland-state-retirement-pension-system-adds-st/
New York’s pension fund posts negative rate of return
https://spectrumlocalnews.com/nys/central-ny/ny-state-of-politics/2023/07/06/new-york-s-pension-fund-posts-negative-rate-of-return
Supervisors hear how public safety pension plan became a mess
https://www.parkerpioneer.net/news/article_60754b6e-1e80-11ee-8c5b-575cb84d4c10.html
Chicago’s pension debt continues to rise, increasing $1.74B in 2022 to $35.4B: City Analysis
https://news.wttw.com/2023/07/05/chicago-s-pension-debt-continues-rise-increasing-174-billion-2022-354-billion-city