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Kansas governor signs bill to issue $1 billion in pension bonds
trueKansas Gov. Sam Brownback signed off on a bill to issue $1 billion in pension obligation bonds for the $16 billion Kansas Public Employees Retirement System, Topeka.
Moody's further downgrades New Jersey bonds, citing pension shortfalls
trueMoody's Investors Service downgraded New Jersey's general obligation bonds by one notch to A2, citing the state's “weak financial position and large structural imbalance, primarily related to continued pension contribution shortfalls.”
Wilshire: S&P 500 funded status plummets in 2014 despite strong returns
trueThe aggregate funded status for pension plans sponsored by S&P 500 companies fell 720 basis points to 82.5% in 2014 as liability growth outpaced assets, said an annual report from Wilshire Consulting.
MassPRIM expects 3.3% reduction in fiscal year 2016 budget
trueMassachusetts Pension Reserves Investment Management Board, Boston, projects a 3.3% reduction in its fiscal year 2016 budget — a decrease of $12 million from fiscal 2015, said Nicole Giambusso, spokeswoman for the $62 billion pension fund.
N.J. high court sets date for oral arguments on Christie pension contribution cut
trueThe New Jersey Supreme Court set oral arguments for May 6 to hear a challenge by more than a dozen public employee unions against Gov. Chris Christie's withholding $1.57 billion in contributions from the state's $77.1 billion pension system for the fiscal year ending June 30.
New settlement proposed in Rhode Island pension overhaul lawsuit
trueA new proposed settlement to end litigation against Rhode Island’s state pension overhaul was revealed in court on Thursday.
Kansas General Assembly passes bill for $1 billion pension bond issuance
trueThe Kansas General Assembly passed a bill to issue $1 billion in pension obligation bonds for the $16 billion Kansas Public Employees Retirement System.
Kansas House approves $1.5 billion in pension obligation bonds
trueThe Kansas House of Representatives voted Wednesday to issue $1.5 billion in pension obligation bonds for the Kansas Public Employees Retirement System, Topeka.
truePublic pension funds will continue to shape public policy, budgets and potentially credit quality for states, said a report from Standard & Poor's.
Moody's: Public fund contributions not enough to stem liability growth
trueNew GASB standards reveal “contribution weaknesses” in public pension funding, but their impact on credit ratings is minimal, said a report from Moody's Investors Service.
U.K. companies increasing pension fund amortization periods
trueCompanies are increasingly lengthening their pension fund amortization periods by three years or more in an effort to relieve pressure on repairing funding gaps, new research shows.
NASRA study finds most states funding their pension plans
trueMost governments made good-faith efforts to fund their pension plans, and only a few “severely neglected” their funding responsibilities, said a new study released Wednesday by the National Association of State Retirement Administrators.
Corporate contributions top $17 billion to start 2015
trueFifty-one companies so far have announced they will contribute a combined $17.35 billion to their pension funds in 2015.
Houston Firefighters reach deal with city that avoids lawsuits, new pension fund
trueThe city of Houston will save more than $70 million in pension payments over the next three years and halt lawsuits and proposed pension changes aimed at city firefighters under an agreement signed Thursday by Houston Mayor Annise Parker and the $4 billion Houston Firefighters' Relief and ...
Wilshire: State pension plans' funding ratios rise 6 percentage points in fiscal year 2014
trueThe funding ratio of 131 state defined benefit plans rose 6 percentage points to 80% in fiscal year 2014, said a report from Wilshire Consulting.