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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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Gary Gensler Reportedly Picked to Run SEC in Biden Administration

With one week until the inauguration, and tumult and impeachment drawing most of the attention of those in Washington, President-Elect Biden has continued to staff out his administration. While current events have kept many of the potential appointments off the front page, these picks are telling of the priorities and policies that may come to […]

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