Legislation

Kentucky lawmakers approve bill to put new teachers in cash balance plan

LEGISLATION -

LEGISLATION -

The Kentucky General Assembly quickly approved a new pension reform bill that includes placing future teachers in a new cash balance plan.
Minnesota Senate passes pension reform bill that reduces assumed rate of return

Legislation -

Legislation -

The Minnesota Senate passed a pension bill that reduces assumed rates of return, lowers cost-of-living adjustments and increases contribution rates.
Puerto Rico oversight board not doing enough for fiscal recovery, debt resolution, Bishop says

Economy -

Economy -

The Puerto Rico oversight board needs to engage with debt holders and move more aggressively to implement reforms that include funding public pensions.
Colorado Senate passes pension reform bill

Legislation -

Legislation -

The Colorado Senate passed a bill designed to improve the funded status of the $49 billion Colorado Public Employees' Retirement Association.
CalSTRS takes a watch position on race, gender equity policy bill for alts managers

Legislation -

Legislation -

CalSTRS is taking a watch position on a bill that restricts public plans from making alternative investments with managers that have not adopted a race and gender pay policy.
Puerto Rico oversight board calls on pension cuts, move to DC plan

ECONOMY -

ECONOMY -

Puerto Rico has until April 5 to submit a revised fiscal plan that includes 10% pension cuts and other reforms.
New Jersey sends bill to governor to separate police and fire pension plan

Legislation -

Legislation -

The New Jersey Senate and General Assembly approved allowing the state Police and Firemen's Retirement System to become a separate pension fund.
Trump signs spending deal with $21 billion for infrastructure

WASHINGTON -

WASHINGTON -

President Donald Trump signed a $1.3 trillion spending bill Friday with $21.2 billion for new infrastructure spending.
Congress passes spending bill with $21 billion for infrastructure, increased leverage for BDCs

Washington -

Washington -

The House of Representatives passed a $1.3 trillion spending package Thursday with $21.2 billion in new infrastructure dollars.
Wyoming law establishes task force to look at creating private-sector retirement plan

LEGISLATION -

LEGISLATION -

The Wyoming governor signed legislation creating a task force to explore the possibility of creating a private-sector retirement plan.
Commentary: What if this is the middle of the recovery, not the end?

INDUSTRY VOICES -

INDUSTRY VOICES -

The current business cycle might seem long in the tooth, but several indicators point to its being only midcycle.
Carried interest lives on despite tax reform

Legislation -

Legislation -

Carried interest was supposed to be addressed in 2017's tax-reform law, but the realities of what didn't change are starting to sink in now.
Senate working on retirement savings package

LEGISLATION -

LEGISLATION -

An eclectic package of retirement savings initiatives is working its way through Congress, raising hopes that new ideas are within reach.
Massachusetts introduces legislation requiring MassPRIM to divest from gun manufacturers

ESG -

ESG -

Massachusetts has introduced legislation requiring MassPRIM to divest from companies that manufacture guns and ammunition.
RESA retirement bill introduced in House

Washington -

Washington -

The House counterpart to a Senate package of retirement savings initiatives was introduced late Wednesday.