Retained actuaries and retirement funds report improved funding; actuaries caution against rushing to spend surpluses Retained actuaries for the Legislative Commission on Pensions and Retirement (LCPR) and executives from multiple statewide retirement systems reported improved funded ratios and strong investment returns, while urging caution about using pension surpluses and explaining new layered amortization transparency.

Minnesota's retirement systems are seeing improved funding, but actuaries warn against the temptation to spend surplus too quickly—are we prioritizing long-term security?

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#MN #PensionSustainability #CitizenPortal #InvestmentTransparency #MinnesotaPensions #RetirementFunding

Retirement system warns PHIP costs rising after federal changes; board to draw retiree trust Retirement Systems of Alabama officials told the Education Trust Fund committee PHIP covers about 355,000 lives and faces steep cost pressures from Medicare Advantage funding changes and utilization; the system plans withdrawals from a retiree trust and sought additional ETF funding to cover an FY27 shortfall.

Alabama's PHIP program is facing a staggering $380 million shortfall by FY27 due to unexpected federal funding changes and rising healthcare costs.

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#AL #MedicareChanges #RetirementFunding

Reminder - NITheCS Colloquium: ‘Application of the Benchmark Approach for Retirement Funding' by Eckhard Platen (University of Technology Sydney, Australia) - today @ 16h00-17h00 SAST.
📍 Attend in person or online
🔗 buff.ly/Tl49jq4
#RetirementFunding #SavingForRetirement #FinancialMathematics

NITheCS Colloquium: ‘Application of the Benchmark Approach for Retirement Funding' by Prof Eckhard Platen (University of Technology Sydney, Australia) - Mon, 14 Jul @ 16h00-17h00 SAST.
📍 Attend in person or online
🔗 buff.ly/Cq05U1H
#RetirementFunding #SavingForRetirement #FinancialMathematics

CABMAC proposes fiscal changes impacting $600 million budget to legislature CABMAC recommends adjusting ADEC to 25.9% and FCR by 2% annually.

Mississippi's retirement system is at a crossroads, with a potential $600 million budget impact and critical funding decisions looming.

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#MS #CitizenPortal #BudgetSustainability #RetirementFunding #MississippiPublicEmployees #LegislativeAccountability

Council member Wernick questions CalPERS retirement contributions and employee insurance costs Wernick addresses unfunded liabilities and rising employee insurance rates in budget discussions.

Buellton City Council is tackling critical budget issues, including rising employee insurance costs and retirement contributions that could shape the future of city finances!

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#BuelltonCitySantaBarbaraCounty #CA #CitizenPortal #RetirementFunding #BuelltonCityCouncil

Montana Legislature approves employer contribution plan for public employees' retirement fund Legislature allocates 38.33% employer contribution to retirement fund for 2023-2024.

Montana's Legislature just approved a significant 38.33% employer contribution to the retirement fund for 2023-2024, ensuring a brighter future for public employees!

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#MT #GovernmentTransparency #PublicPolicy #MontanaPublicEmployees #CitizenPortal #RetirementFunding

Colorado General Assembly approves fund transfer to public employee retirement association Colorado legislators authorize fund transfer for public employees' retirement contributions by 2025.

Colorado's Senate Bill 264 could dramatically shift the landscape of public employee retirement funding—will it ensure security or spark financial turmoil?

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#CO #CitizenPortal #PublicPolicy #FinancialStability #RetirementFunding

University of Puerto Rico seeks to cut $30M for retirement plan adjustments UPR faces financial challenges and must adjust operations to address retirement funding deficits.

The University of Puerto Rico is grappling with a staggering $63 million deficit and must slash $30 million from its budget to secure retirement benefits for its faculty.

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#US #CitizenPortal #FiscalResponsibility #PuertoRicoUniversity #HigherEducation #RetirementFunding

Montana legislature advances House Bill 85 to restore public safety retirement funding House Bill 85 repeals amortization policy, restores critical funding for law enforcement retirement systems.

Montana's Senate is taking urgent action to stabilize law enforcement retirement funding, as House Bill 85 aims to correct past mistakes that jeopardized public safety.

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#MT #CivicAccountability #CitizenPortal #PublicSafety #RetirementFunding #MontanaLawEnforcement

State Legislature approves $25M for retirees health insurance and pension plans Legislators allocate funding for pensions, health insurance, and employee compensation programs.

Tennessee's House Bill 1409 is set to revolutionize employee compensation and retirement benefits with over $200 million in funding, but will it stand the test of fiscal scrutiny?

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#TN #EmployeeCompensation #TennesseeRetirees #RetirementFunding #HealthInsurance #CitizenPortal