[WEBINAR] Preparing for Changes in the “Vested Rights Doctrine” - Understanding Plan Design Options
[VIDEO] Pension Liability by the Numbers
NAV financing, continuation funds, public pension funds and their increased private equity allocations, and the commercial real estate outlook – here’s what we’re reading....more
Earlier this month, the Kansas Public Employees Retirement System (KPERS) urged legislators to reject key aspects of “anti-ESG” bills introduced in the Kansas Senate and House of Representatives. Both bills are designed, in...more
Border to Coast Pension Partnership (the “Partnership”), a pension pool consisting of 11 UK local government pension schemes, announced that “[o]il majors and banks must make greater progress on climate pledges or risk losing...more
On February 15, 2023, changes to Actuarial Standard of Practice (ASOP) No. 4 will be effective, and defined benefit plans will need to comply with these new rules in all actuarial funding valuations with measurement dates...more
In this week’s Fund Finance Friday, we release the first installment of our Sovereign Immunity Series, a new series in which we examine, in alphabetical order, the sovereign immunity status of each state. Today, we will...more
Fund Finance Friday has previously reported on the continuous rise of public pension money in private equity. Generally, such investments are made in commingled funds with a diversified group of investors, but we also...more
Two recent news items got me thinking about public pensions, their continued rise in private equity and their sovereign status. The first news item, already widely covered in the media, is the announcement by the Securities...more
Labor Reform - New Legislation Enacted - Law 32/2021 of December 28, published on December 30, 2021, provides urgency measures for labor reform, the guarantee of employment stability, and the transformation of the labor...more
Last month, the Securities and Exchange Commission announced that it was proposing a new rule under the Exchange Act. In an accompanying "fact sheet", the SEC said that it was doing so "to increase transparency and...more
Ransomware and other cybersecurity attacks have made national headlines during the past 12 months, and public pension systems are as susceptible to these attacks as any other organization. In this episode of Public Pensions &...more
Infrastructure investment, whether through direct investments in specific projects or through commingled funds, is an attractive asset class for public pension systems and other institutional investors. In this episode of...more
All public pension plans need a well-crafted fiduciary liability insurance policy. This should include ample coverage, including protection against the risk of impending litigation. The recent ruling by the U.S. Court of...more
In this episode of Public Pensions & Investments Briefings, Nossaman Public Pensions & Investments Group Partner Peter Mixon and Institutional Limited Partners Association Senior Policy Counsel Chris Hayes discuss what impact...more
On November 24, 2020, the California Supreme Court denied two requests for depublication of the First Appellate District’s decision Marin Assn. of Public Employees v. Marin County Employees’ Retirement Assn. (2016) 2...more
Reopenings: Schools and the General Assembly Get Back to It. Legislative Session 2020 started out like most sequels, with a feeling of déjà vu. It was Groundhog Day with a touch of “I Am Legend” thrown in for atmosphere....more
Modifications Are Permissible Under the California Rule - In a unanimous decision, the California Supreme Court held that changes made to the County Employees’ Retirement Law, known as CERL, by pension reform measures...more
In a landmark decision of a unanimous court, on July 30, 2020, the California Supreme Court issued its second case in two years on the scope of the “California Rule,” Alameda County Deputy Sheriff’s Assoc. et al., v. Alameda...more
As we discussed in our previous Alerts, "Novel Suit by Kentucky Pension Beneficiaries Continues" and "Kentucky Court Holds That Public Pension Plan Beneficiaries Lack Standing to Sue," beneficiaries of Kentucky's public...more
In February, I penned this post about some of Nevada's historic rural courthouses. Recently, I visited Goldfield, Nevada. Although Goldfield is the county seat of Esmeralda County, it has no gas station and no supermarket. ...more
The California Public Employees Retirement System (aka CalPERS) is the largest defined-benefit public pension in the United States. It is governed by a Board of Administration that consists of 13 members who are elected,...more
Please join our Public Pensions & Investments Group for our webinar, "Legal Consequences of Shelter-in-Place Orders and Beyond for Public Pensions Systems," on May 7, 2020. As COVID-19 continues to transform the private...more
On April 15, 2020, the California Supreme Court scheduled oral argument in the much-anticipated California Supreme Court public retirement case, Alameda County Deputy Sheriff's Association, et al. v. Alameda County Employees'...more
Please Note: These materials do not constitute legal or medical advice. Government initiatives, announcements, and regulations in response to the COVID-19 situation continue to evolve and change frequently. What are the...more
On December 12, 2019, the California Court of Appeal for the First Appellate District handed down a unanimous decision in Luke v. County of Sonoma, Sonoma County Employees’ Retirement Association, et al., affirming the...more
With overall required contribution rates increasing at an alarming rate, most CalPERS employers – particularly those with significant “classic” safety populations – are looking for help to pay for these obligations....more