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Last week, the Seattle University Board voted to divest from fossil fuel holdings from the university’s $230 million endowment. Presently, the endowment holds $13.6 million – or 6.7% – stock in fossil fuel companies. The University Board and students would be wise to consider the thoughtful judgement of the Seattle Pension Board last year before deciding to divest from these holdings.
Last week, Spectrem Group released a study titled “Tensions with Pensions,” that surveyed 3,265 pensioners on a host of issues related to pension funding, holdings, and performance satisfaction. The findings of the survey should serve as a warning for elected officials hoping to politicize pensions, especially as many are up for reelection at the end of the year.
While many are aware, pension underfunding is a growing problem across the country. However, the retirees in the survey overwhelming believed their … Read More
There is a growing gap between pension obligations and outstanding liabilities. This is a concern for retired public servants relying on a comfortable pension fund to sustain their future. Inaction on part of lawmakers to close the gap is unacceptable. Kentucky is an example of a state with a mismanaged pension crisis. The annual report revealed that the five pension plans that make up the Kentucky Retirement System increased from $21.17 to $26.75 billion in the last fiscal year. The … Read More
It’s no secret that California has a serious pension problem that is weighing on the state’s budget with its massive unfunded liabilities growing by the day. The Association of California Cities – Orange County (ACC-OC) recently published a study on the current state of California pensions and the results are far from golden.
Is a symbolic win for some in the environmental movement worth a financial desolation for one million New York state pensioners and their families? This is the question that New York lawmakers must consider when casting a vote for the Fossil Fuel Divestment Act. And this question was explored in a recent Albany Times Union column exploring this issue.
The Act argues, “Divestment is financially prudent, morally imperative, responsible policy making,” but how can our legislatures claim moral, responsible policy … Read More
In a recent column in The Montgomery County Sentinel, Jeff Hooke, a finance professor at Johns Hopkins University, commented on a debate that has taken root in Maryland’s Montgomery County – divestment of the employee pension fund from fossil fuel investments.
In a bill presented to the Montgomery County Council, the employee pension fund is under threat for being politicized by opposition groups who seek to have their green agenda fulfilled through divestiture measures. Ironically these actions do not … Read More
Coalition member Shalom Klein gives a breakdown of how harmful divestment action can be on university endowments and pensions.
You can read the original post and learn about other issues impacting our nation on his blog.
I don’t want to see university endowment funds divest from fossil fuel!
- Recently universities and pension managers have been making headlines as they consider divesting their funds from certain investments, specifically fossil fuel stocks, bonds, and other investments. Illinois universities, in particular, has