This past spring, Maryland’s congressional delegation — supported by most of Virginia’s delegation — announced the effort to designate large swaths of the Chesapeake Bay as a National Heritage Area. Our bay’s history, cultural diversity and magnificent ecosystem — the largest of its kind in the world — deserves this, and our congressional leaders […]
Letter from IPFI president, the Hon. Christopher Burnham, to the Hon. Glenn Hager, Comptroller of the State of Texas, on proposed law in Texas regarding money managers of the state employees’ and teachers’ pension funds
May 10, 2021 The Honorable Glenn Hegar Comptroller of the State of Texas P.O. Box 13528 Austin, Texas 78711 Dear Comptroller Hegar, I am writing to you to share our strong concern with legislation introduced into the Texas State Senate in early March, SB-13. I am the former State Treasurer and sole fiduciary of […]
A New Pension Model in Florida
On April 8, 2021, Florida Senate Bill 84 passed along party lines, with all Republicans voting for it and all Democrats voting against it. Florida Senate Bill 84 essentially requires new state employees, with the exception of the Special Risk Class (police and firefighters), to join a defined contribution investment plan instead of the […]
In early June of 2020, the National Science Foundation (NSF) awarded a $225,000 research grant to KRNC. The purpose of the grant was to make a new system or protocol that combines our US fiat currency, the dollar, and features of cryptocurrency. As the popularity of cryptocurrency is on the rise and some desire to […]
Multiemployer Pensions in Trouble Receive Relief in Newest Stimulus Bill
Earlier this month, President Biden signed the American Rescue Plan Act (ARPA), a $1.9 trillion COVID-19 stimulus measure. Of that amount, $86 billion will provide substantial financial assistance for about 185 to 300 underfunded pension plans. The bill provides relief for single-employer pensions, but more significantly targets multiemployer pensions. Multiemployer pensions are union-managed pensions that […]
Insights and Implications of the GameStop Short
On January 27, 2021, members of a subreddit called r/WallStreetBets– an online forum group of over 2 million amateur investors, initiated a historic and unusual event in the marketplace: a short squeeze that caused major losses for short sellers and hedge funds. One of the hedge funds most impacted and was bailed out by Point72 […]
South Dakota Continues to Lead the Nation in Public Pension Returns, Without the Need for Proxy Advisors
As 2020 drew to a close, new research from the Institute for Pension Fund Integrity provided an overview of the current state of public pension funding and returns across the board. By providing a state-by-state analysis, we hoped to demonstrate just what specific factors have led to the success and failure of state funds, with […]
Cryptocurrency: The Future of Pension Funds?
In a break from usual conservative investment patterns, pension funds are now considering cryptocurrency as an asset class. Interest in digital assets is growing among institutional investors––with the crypto market maturing in the previous two years, it would seem that interest is at a peak. Bitcoin continues to be the digital asset of choice, for […]
Near-Zero Interest Rates, In Place Since Great Recession, Will Remain in Effect
As the Biden administration works to implement a new slate of fiscal and monetary policies to counter the economic downturn of the COVID-19 pandemic, one trend that has long preceded the current crisis seems likely to continue – the intent of the Federal Reserve to set the federal interest rate at a near-zero level. In […]
Boston Mayor Marty Walsh Tapped to Lead Department of Labor
Continuing with his anticipated array of high-profile appointments, President Biden has tapped Boston Mayor Marty Walsh to serve as Secretary of Labor in the new administration. Serving as Mayor since 2014, Walsh has established a proven track record of supporting workers across the income spectrum, fighting to raise the minimum wage in Boston, boost apprenticeship […]