Welcome to the latest edition of This Week in Pensions! We have gathered the best stories about pensions and retirement security from the previous week. You need to know this news in the fight for a secure retirement.
NPPC News
Juneteenth reminds us of the fight for equality, but today, we face a new threat to economic stability. Federal job cuts are disproportionately affecting Black workers, undermining decades of progress. Learn how these cuts jeopardize the financial security of Black families and what’s at stake in our latest blog.
In addition, NPPC is hosting a Mid-Year Legislative Update Webinar on Tuesday, June 24, 2025, at 4:00 PM ET. We’re taking a look at where things stand for public pensions nationwide. Several of our in-state partners will join NPPC Executive Director Kendal Killian to break down the biggest wins and the toughest challenges we’ve seen this year — and what they mean for state retirement systems, public employees, and retirees.
Register for NPPC’s webinar here.
New NIRS Report Details How Public Pension Funds Have Successfully Navigated Economic Downturns
The National Institute on Retirement Security (NIRS), in conjunction with Aon, released Evolution and Growth: How Public Pension Plans Have Diversified Their Investments Amid Changing Markets this week. The report examines the ongoing success public pension funds have found despite market volatility.
Key takeaways from the report include:
- – Public pension plans have significantly diversified their portfolios since 2001.
- – Shifting to a “prudent investor rule” investment philosophy made that diversification possible.
- – These diverse pension plan portfolios have performed strongly in recent years, allowing plans to meet their investment return expectations more frequently.
“This analysis of how public pension plans have responded to market conditions illustrates notable drivers of asset allocation evolution and public plan sponsors’ ability to adapt,” said report co-author Katie Comstock. “The data shows that strategic shifts in asset allocation have helped many public pensions meet return expectations while recovering from major financial shocks.”
NIRS and Aon will host a webinar about the report on Wednesday, June 25, 2025, at 2:00 PM ET.
Georgia Lawmakers Consider Pension Improvements
On Monday, the Georgia House Retirement Committee authorized actuarial studies of the costs of eight bills affecting the state’s public pension systems, the results of which will determine if the House will advance any of the bills in the next legislative session.
The legislation includes the following:
- – HB 372 would extend the Georgia law allowing retired teachers to return full-time in high-need subjects while still collecting a pension. Strict rules have limited participation, and the program expires in 2026. This bill pushes an end date to 2030 and will let districts define their high-need areas.
- – HB 337 and HB 808 propose boosting benefits to 80% of final pay for long-serving officers. Georgia ranks near the bottom in law enforcement retirement pay, and these bills are expected to improve recruitment and retention.
- – HB 924 and HB 895 aim to increase benefits for all retired legislators and raise payments for current leaders, using a fully funded retirement system.
- – In addition, HB 818 moves Tax Court judges to the Judicial Retirement System, HB 891 raises employee contributions and benefit payouts in the state pension plan, and HB 905 would let employees combine service time across retirement systems to qualify for benefits.
North Carolina Leaders Move to Strengthen State Pension Systems
North Carolina Governor Josh Stein signed House Bill 506 into law this week, aimed at increasing investment returns on the $127 billion fund. The bill establishes the North Carolina Investment Authority, a five-member committee of financial experts appointed by State Treasurer Brad Briner, the Governor, and other lawmakers. The board, which will be chaired by Briner, is designed to add expertise and dimension to the management of the funds, which until now have been the sole responsibility of the treasurer. The law also relaxes strict guidelines about investment strategies.
“We have fallen short on the investment side,” Briner said at the bill signing ceremony. “That has come at a cost to our taxpayers, that’s come at a cost to our retirees, and this legislation allows us to fix that problem.”
Be sure to check back next Friday for the latest news in the fight for a secure retirement! For now, sign up for NPPC News Clips to receive daily pension news from across the country directly to your inbox.