Hudson Reporter
Jersey City councilman calls for a ban on fossil fuels investments
Councilman James Solomon
Jersey City Ward E Councilmember James Solomon will present a resolution calling on local and state pension boards to ban future investments in fossil fuels
The resolution, scheduled to be put before the council on April 28 at 6 p.m., calls for the New Jersey State Legislature, the New Jersey State Investment Council, and the Pension Committee for the Employees’ Retirement System of Jersey City to divest from current fossil fuel investments.
“As a state and a city that knows climate change’s ravages firsthand, New Jersey and Jersey City should be leaders on fossil fuel divestment,” said Solomon. “The time for half measures on climate is over. The state should sell their current investments in fossil fuels. Rules should be established to prevent any future investment in corporations that poison the earth.”
Sacramento County Employees rebalances equity, fixed-income portfolios
Pension fund also terminates $39 million investment with hedge fund manager
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Sacramento County (Calif.) Employees Retirement System rebalanced its equities and fixed-income portfolios, re-upped with an open-end private equity fund and redeemed from a hedge fund that s been on its watch list, an investment activity report from the $11.7 billion pension plan said.
As part of a rebalancing plan, the pension fund partially redeemed from these strategies within its equities portfolio:
$94 million from a passive large-cap equities strategy managed by AllianceBernstein, leaving it with about $1.4 billion.
$50 million from an international developed large-cap growth strategy run by Walter Scott & Partners, leaving it with $616 million.
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PHILADELPHIA â During its meeting Thursday evening, the Indian River Central School District Board of Education approved its proposed 2021-22 budget that will represent a slight decrease in spending from this year.
The district has proposed an $89,921,500 spending plan for the 2021-22 school year, an 0.84% or $166,954 decrease from this yearâs adjusted budget amount of $90,088,445.
The districtâs proposed tax levy to support the total budgeted amount stands at $2,583,574, a 3.04% increase over this yearâs $2,507,302.
âComparing whatâs proposed for the 21-22 budget against what the budget is currently, our $90 million budget, you can see that thereâs a slight reduction, almost $167,000,â said Indian River Central School Districtâs Business Manager Audrey Stevenson. âWeâre still estimating putting $1.5 million into the ERS (Employee Retirement System) reserve and $.525 million into the TRS (Teachersâ Retirement System) rese
Spokane Employees adds to fixed income
Updated with correction
Spokane (Wash.) Employees’ Retirement System invested $7 million in PIMCO Dynamic Bond Fund, an unconstrained fixed-income fund managed by
As of Dec. 31, the pension fund’s actual allocation to opportunistic credit was 6.1%.
Investment consultant Hyas Group assisted.
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