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Tag: Retirement Systems of Alabama

State House 1 Alabama News
Construction on new Alabama State House to cost $325 million

Building a new Alabama State House will cost around $325 million, according to Retirement Systems of Alabama (RSA) CEO David Bronner.

State House 1 Alabama News
Photos of new State House revealed

Legislative staff released initial designs for the new State House on Wednesday.

David Bronner Alabama News
RSA's Bronner: Parents can’t be trusted with school choice voucher programs

Retirement Systems of Alabama CEO David Bronner advocated against education voucher programs in the RSA’s most recent newsletter, suggesting parents receiving vouchers for their children’s education can’t be trusted to spend that money responsibly.

RSA from RSA Facebook Alabama News
RSA responds to nonprofit report labeling pension fund’s investment managers ‘Pro-ESG’; Claims report relied on faulty information

After 1819 News reported on a “spotlight bias” study from the 1792 Exchange, which gave the Retirement Systems of Alabama’s investment managers one of the highest “Pro-ESG” averages in the country, a spokesperson from RSA responded to refute the nonprofit’s claim.

RSA Alabama News
Nonprofit claims RSA's investment managers voted for higher percentage of 'Pro-ESG' shareholder resolution than vast majority of public pensions in 2022

The 1792 Exchange released a new “spotlight bias report” detailing the percentage of “pro-ESG” resolutions supported by state pension funds in 2022, and the Retirement Systems of Alabama (RSA) landed near the top of the list.

AL State House Lon Worley Alabama News
Legislators to consider new State House proposal next week

Legislators will consider at a meeting of the Legislative Council on Tuesday whether to enter into a lease agreement with the Retirement Systems of Alabama for a new State House.

Photo from Montgomery Academys website Alabama News
RSA's Bronner critical of education savings accounts despite having sent children to elite private school

CEO of the Retirement Systems of Alabama David Bronner recently leveraged the RSA’s newsletter to advocate against education savings accounts, which he claimed would jeopardize public schools and leave private schools unaccountable.

ESG Alabama News
Poll: Most Alabamians oppose investing taxpayer money in politically motivated banks, funds

A poll released this summer by the Center for Excellence in Polling (CEP) showed a majority of Alabamians oppose investing taxpayer money in companies that use ideology as a metric to make business and investment decisions. 

RSA from RSA Facebook Alabama News
RSA provided a startup loan to its actuary in 2005, which Alabama economist calls a ‘major conflict of interest’

The Retirement Systems of Alabama (RSA) provided a startup loan to its current actuary in 2005. One economist is saying this is a conflict of interest that allows the public pension to appear more stable than it really is to lawmakers.

RSA from RSA Facebook Alabama News
Retirement Systems of Alabama releases request for proposal for architectural services for new state house

The Retirement Systems of Alabama (RSA) released a request for proposal (RFP) Monday seeking architectural services to investigate a 2.5-acre site in Montgomery and design a new state house for the Alabama Legislature.

Troy University Alabama News
'Good-ole-boy-type cronyism,' 'Pro-business but not pro-economic freedom': Heavy-handed tactics alleged at Troy University to stop criticism of RSA, force backing of economic incentives

A former professor at Troy University is accusing the college of targeting him for criticizing the Retirement System of Alabama (RSA).

AL State House Lon Worley Alabama News
House bill could permit state employees to make over $50K a year while receiving retirement benefits

If passed this legislative session, a new bill in the Alabama House of Representatives would allow beneficiaries of the Teachers’ Retirement System (TRS) and the Employees’ Retirement System (ERS) to earn a salary of as much as $52,000 a year while still receiving retirement benefits.

Alabama Capitol Alabama News
Economist: Alabama has a history of making ‘drastic moves in the wrong direction,’ criticizes economic incentives, state income tax, retirement system

State legislators have consistently insisted the state can't afford to permanently cut income taxes, much less eliminate them altogether. Lawmakers have also strayed away from reforming the state’s retirement system, even as it reported negative returns in 2022. One economist says they’re all wrong.

money Alabama News
Ten highest paid state employees in Alabama: Who are they?

Alabama ranked 29 among all U.S. states and territories for average state employee salary in 2021. Nevertheless, its highest-paid employee makes almost double what the highest-paid federal employee makes.

I Stock 1384978701 Alabama News
State Treasurer Boozer, Retirement Systems of Alabama deny using ESG criteria for investments

Alabama state treasurer Young Boozer assured that the Alabama State Treasury (AST) does not make investment decisions using ESG criteria.

Ross bridge golf course Alabama News
Hoover’s Ross Bridge golf course update: ‘It’s a real disaster’

Ross Bridge golf course will probably be under an accelerated renovation plan in 2023 after a recent groundskeeping mistake severely harmed most of its greens a couple of weeks ago.

Ross Bridge Alabama News
Hoover's Ross Bridge Golf Course stops play after groundskeeping mistake

Tee times at Ross Bridge are no longer being accepted for an undetermined period of time until course management can fix a recent herbicide mix-up that has caused the deterioration of fourteen of the course’s eighteen greens.

AL AG Marshall Steve AP Photo by J Scott Applewhite Alabama News
AG Steve Marshall: ESG 'another mechanism for the left to impose their philosophy'

Alabama Attorney General Steve Marshall said Environmental, Social Governance (ESG) investing is the left’s new way of imposing their worldview on the country.

RSA from RSA Facebook Alabama News
ESG criteria used for some of Alabama's best-known brand names — 'Important and a factor'

One might not expect to find so-called Environmental, Social Responsibility and Governance (ESG) policy in Alabama, but elements of it are around.

David Bronner1 Alabama News
RSA's Bronner blames market crash on COVID overspending, global turmoil

David Bronner, who has headed the Retirement Systems of Alabama (RSA), the state employee pension fund now valued at $50 billion since 1973, says turmoil in the financial markets can be primarily blamed on two phenomena: inflation caused by government overspending in response to COVID-19 and the ongoing Russia-Ukraine conflict.