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Fitch: Pension Fund “Depletion Dates” Raise Red Flags

Under new GASB accounting standards, public pension funds are required to calculate their “depletion date” – or, the date where benefit payouts become larger than assets. The dates help give context to the funding situations at the pension funds, says Fitch Ratings. For some of the country’s most underfunded plans, the depletion dates are startlingly ...
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Fitch: Hedge Funds Will Continue “Winning and Keeping” Public Pensions Assets

Fitch Ratings predicts that, despite several high-profile exits by pension funds this year, hedge funds will continue to count public pension funds as major investors. The ratings agency says exits by funds like CalPERS are “not representative of broader sector trends” and says it believes hedge funds still “deliver competitive returns net of ...
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Fitch Slaps Jacksonville With Credit Downgrade Over Pension Obligations

Fitch warned Jacksonville earlier this year that a credit downgrade was waiting in the wings if the city didn’t move to control its rising pension costs. Fitch has now followed through on the threat, downgrading several city bonds from AA+ to AA, and others from AA to AA-. In doing so, Fitch becomes the second agency to downgrade Jacksonville’s ...
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Fitch Downgrades New Jersey Credit Rating For Second Time in Five Months

On Friday, New Jersey was dealt another fiscal blow when rating agency Fitch downgraded New Jersey’s credit rating. The agency said New Jersey exacerbated “a key credit weakness” when it decreased its payments to the state pension system. From the Star-Ledger: Wall Street analysts at Fitch Ratings today downgraded New Jersey’s bond ...
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