by meep
FoxBusiness: Kentucky warns BlackRock, JPMorgan Chase over ‘energy boycotts’
The state of Kentucky is warning a number of financial institutions, including BlackRock and JPMorgan Chase, to stop boycotting energy companies or the state may divest its funds in the months ahead.
Kentucky’s legislature enacted a law in 2022 that...
by meep
From Wirepoints: Reality check: New actuarial report says Illinois’ biggest pension, TRS, sunk $6 billion further into the hole in FY 2022 – Wirepoints Quickpoint
The first actuarial report is out for an Illinois pension for fiscal year 2022, which ended on June 30. It’s for the TRS,...
by meep
When I saw the news about the FTX meltdown, I assumed some public pensions were exposed to it and would take losses.
So let’s see what we’ve heard so far:
ai-CIO: Ontario Teachers Pension Could Lose $95 Million on FTX Investment
Canada’s Ontario Teachers Pension Plan could lose as...
by meep
Before I start — this is the first time I have ever seen anything like this, and I’ve been writing about iffy public pension practice for years.
This goes above and beyond.
The reason is coming up right now is Chester, Pennsylvania is bankrupt:
by meep
I know, I know, and you didn’t get me anything.
Well, you’re giving me your attention, which should be gift enough.
Here’s a video with a few demos:
There’s basically no difference...
by meep
As I noted a few weeks ago, we’re getting the reports on pension fund fiscal year results on the asset side.
WSJ: Market Rout Sends State and City Pension Funds to Worst Year Since 2009
Public pension plans lost a median 7.9% in the year ended June 30, according...
by meep
Yes, I am having a slight bit of fun at Scott Alexander’s expense.
This is in response to his post: Slightly Against Underpopulation Worries, in which he pushes back against various people’s concerns re: global population trajectories in which we are likely to peak within the next century globally, and...
by meep
The results have not been looking good.
Remember that fiscal year 2022 ends for many (if not most) public pension plans on June 30.
Calpers: CalPERS Announces Preliminary Net Investment Return of -6.1% for the 2021-22 Fiscal Year
Tumultuous global markets played a role in CalPERS’ first loss since the...
by meep
The governor of Indiana posted this on Facebook yesterday:
Today I signed a proclamation calling a special session for the General Assembly to take action to return more than $1 billion of state reserves to Hoosier taxpayers.
This is the fastest, fairest and most efficient way to return taxpayers’ hard-earned...
by meep
I think there are two inherent types of problems, or situations, in the human condition.
The first, I would argue isn’t a true problem. It’s that something is wrong, and we don’t know what to do.
Now, we might be able to figure it out, eventually. Or it might...
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