March 28, 2018

Wednesday PA Capitol Digest NewsClips

The Feds
Click Here for Updated PA Capitol Digest NewsClips & News
Click Here for PA Environmental NewsClips & News
Click Here for PA Environment - The Feds
Posted by at

March 27, 2018

PA Gaming Board To Begin Accepting Interactive Gaming Applications June 4

The PA Gaming Control Board Tuesday announced companies that wish to operate interactive gaming platforms can begin to submit their applications on June 4.
The process for Interactive Gaming Operator applications will be as follows:
-- Once an application is submitted, the applicant will receive instructions for how to be fingerprinted.
-- After the PGCB receives the fingerprint results and all other deficiencies in the application are cured, the application will be deemed complete.
-- The completed application for each individual and entity will undergo a background investigation.
Potential interactive gaming operators can download the application now from the PGCB's website.
Posted by at

PA State Employees Retirement System Has 15.1% Return On Investments In 2017

The PA State Employees’ Retirement System Tuesday announced it earned a 15.1 percent net-of-fees return on investments that added $3.9 billion in investment income to the fund last year.
The 15.1 percent return is more than double the system’s assumed rate of return of 7.25 percent. As a result of the additional return above the assumed rate, SERS projects approximately $30 million in employer contribution savings for FY 2018-19 and $530 million over the next five years.
“The SERS investment team manages a diversified fund which generated a meaningful risk-adjusted return by positioning the fund to benefit from strong equity markets,” said SERS Chief Investment Officer Bryan Lewis. “In addition to managing the risks of the portfolio, we have also been working hard to negotiate lower fee structures and pursuing co-investments and similar opportunities to achieve better fee arrangements.”
Since the end of the Great Financial Crisis of 2008, the SERS Fund earned 9.8 percent (annualized, net of fees from 4/1/09 – 12/31/17). During that same period, SERS reduced its annual investment manager expenses by more than $100 million. In 2017, the Fund paid only 47 basis points (0.47 percent of the total fund) in investment manager expenses.
Other accomplishments over the year included restructuring the hedge fund program and implementing a Multi-Strategy asset class.
“The Multi-Strategy asset class provides the board with greater diversity of investment opportunities,” explained Lewis. “That flexibility allows the board and staff to be more strategic as the needs of the portfolio change over time, increasing our chances for higher risk-adjusted returns.”
In addition, the SERS investment team expanded its emerging investment manager program to identify and gain early access to talented investment managers in public equity markets with the greatest opportunity to generate above index returns. The team also added value to the fund by actively reallocating $1.0 billion of cash and investing in public markets.
For more information, visit the PA State Employees’ Retirement System website.
Posted by at

Tuesday PA Capitol Digest NewsClips

The Feds
Click Here for Updated PA Capitol Digest NewsClips & News
Click Here for PA Environmental NewsClips & News
Click Here for PA Environment - The Feds
Posted by at

March 26, 2018

Gov. Wolf Endorses Voting Reform Proposals For Pennsylvania

Gov. Tom Wolf Monday will announce his endorsement of voting reform proposals that include same day and automatic voter registration, modernizing absentee voting, ending gerrymandering, and enacting campaign finance reform to reduce the influence of special interests in Harrisburg.
For decades, Pennsylvania has been on the wrong side of voting rights reform. The Commonwealth has fallen victim to outdated and unfair policies that make voting too difficult, make special interests too powerful, and make politicians less accountable.
“To rebuild trust in Harrisburg, we must have fair and accessible elections for all citizens from our rural communities to our big cities,” said Gov. Wolf. “These reforms have been championed by House and Senate Democrats to modernize our voting laws and put the people of Pennsylvania back in control of our elections. It’s time to remove barriers to voting, end gerrymandering, and curb special interests.”
Gov. Wolf endorsed these proposals:
-- Same Day Voter Registration: Eligible Pennsylvanians should be able to register to vote on election day at their polling place. Same Day Registration would help thousands of people have their voices heard, especially young people, working people, and others with limitations. Example legislation includes Senate Bill 282 (Boscola-D-Lehigh), House Bill 101 (Bizzarro-D-Erie), and House Bill 945 (DeLuca-D-Allegheny).
-- Automatic Voter Registration: Eligible Pennsylvanians who get a license from PennDOT or register for a public service would be automatically registered to vote unless they opt out. Example legislation includes Senate Bill 608 (Hughes-D-Philadelphia) and House Bill 193 (Gainey-D-Allegheny).
-- Modernizing Absentee Ballots: Gov. Wolf believes the current absentee ballot system is archaic and out of touch with the lives of modern voters. He supports “no-excuse” absentee ballots, where citizens can use an absentee ballot if it is most convenient for them to do so. Pennsylvania lags behind 27 other states on this issue.
-- Campaign Finance Reform: Place limits on contributions to candidates seeking elected office with new campaign finance laws as well as implement aggregate limits for races, place sensible restrictions on Political Action Committees (PACs), and strengthen reporting and disclosure requirements across the board to restore confidence in government, and curtail the role of campaign spending in our political process. Example Legislation includes Senate Bill 11 (Costa-D-Allegheny) and House Bill 1332 (Dermody-D-Allegheny).
-- Gerrymandering Reform: Eliminate partisan politics from the legislative redistricting process by enacting legislation to end gerrymandering by establishing an independent, bipartisan commission to create future electoral maps. Example legislation includes Senate Bill 22 (Boscola-D-Lehigh) and House Bill 722 (Samuelson-D-Northampton).
In previous initiatives, Gov. Wolf launched online voter registration that more than a million Pennsylvanians have used and a voter information texting initiative and a program to get high school seniors to register to vote.
Posted by at

Monday PA Capitol Digest NewsClips

The Feds
Click Here for Updated PA Capitol Digest NewsClips & News
Click Here for PA Environmental NewsClips & News
Click Here for PA Environment - The Feds
Posted by at

March 25, 2018

Sunday PA Capitol Digest NewsClips

The Feds
Click Here for Updated PA Capitol Digest NewsClips & News
Click Here for PA Environmental NewsClips & News
Click Here for PA Environment - The Feds
Posted by at
Subscribe to: Posts (Atom)