State pension funds and money managers on the East Coast from Florida to Maine took measures last week to ensure the safety of employees in the face of a massive offshore storm, named Winter Storm Grayson.
Severe storm warnings were issued for parts of 13 eastern states and dire predictions of blizzard conditions blanketed the Atlantic coast from New York to the Canadian Maritime Provinces, Bloomberg reported. In many areas, more than a foot of snow fell.
Governors in states including Delaware, Maine, Maryland, Massachusetts, New Jersey, Rhode Island and Virginia declared emergencies for coastal areas. As a result, some public pension fund offices were closed Jan. 4, including in Connecticut, Delaware, Maine, Massachusetts and Rhode Island. All had reopened Jan. 5.
Some asset owners also took steps to protect employees, especially in Tallahassee, Fla., which endured the rare occurrence of ice and snow. On Jan. 3, officials at the $195.6 billion Florida State Board of Administration notified employees about known road closures and stressed that employees should come to work only if conditions were safe, said John Kuczwanski, communications manager, in an email.
Money managers maintained business as usual Jan. 4, in some cases, allowing employees to work from home.