In new draft rules posted Monday on the website of the agency that oversees Florida’s pension fund, state investment managers can weigh only the risk or return of an investment when directing the state’s $200 billion in assets.
Over-promised benefits continue to sink Chicago’s finances as the recent bear market eats into 2021 stock market gains. Investments gaining 25% last year plus federal aid didn’t offer much help to city pension systems, which have more debt than 45 states.
This year hasn’t had 2021’s high-profile announcements, but trends say colleges are likely avoiding coal, oil and gas — whether they trumpet it or not.
Gov. Hochul on Monday signed a simple bill to clarify in state law that the names of government pensioners are public — that is, the actual “retiree,” not a surviving family member, the “beneficiary,” who collects the pension when the retiree dies.