JANUARY 16, 2018
MINNESOTA NEWS + OPINION
Center
of the American Experiment
The
Teachers Retirement Association (TRA), which manages pensions for the majority of teachers in Minnesota, told
legislators Friday that it wanted to drop its assumed rate of return from 8.5
to 7.5 percent. TRA is the last public
fund in the entire United States to assume 8.5%. Most public funds ...
Minneapolis Star Tribune
In 20 years at the
State Capitol, Don Moe became an expert on pensions for public employees, a
policy arena that some might consider a sleepy backwater. In fact, Moe's push
for reform and better oversight was so controversial that it's widely regarded
as a key reason another DFLer garnered support ...
Minnesota Public Radio News
(blog)
“I'm eager to
fight for the nurse in greater Minnesota who's worried about cuts to the rural
health budget and the public school teacher who wants to give students a
world-class education; for the retirees in Duluth who are concerned about their
pensions getting cut, the farmer in Willmar concerned about ...
NATIONAL NEWS + OPINION
NJ.com
Christie
signed the measure even though he has railed against past governors and elected
officials for adding debt to New Jersey's ailing public-worker pensions
system. The state's pension
liability is more than $90 billion -- among the largest in the nation, and
Christie made it a big part of his final State ...
NJ.com
Gov.-elect Phil
Murphy, a Democrat who ran a strong pro-labor campaign, made plenty of big
promises to the unions, from an ambitious pledge for full pension payments to
raising the minimum wage to $15 an hour. But if he wants to make an immediate
impact on public labor, Murphy can start with fixing ...
Journal Inquirer
Is there really
nothing to be reduced in public education spending in Connecticut? That's what
the state ... While the governor says Connecticut should be embarrassed by its
neglect of transportation, he says he is most proud of improving the financing
of state employee pensions. That is, pensions come ...
Pension Policy International
The public pension
crisis has come under increasing scrutiny over the past decade as shifting
demographic trends, harsh economic conditions and the very nature of pension
funds have changed, and not for the better. Pension funds create valuable
saving and investment tools for an individual's ...
Labor Notes
Traditional
defined-benefit pensions are rapidly disappearing in the private sector—less
than 15 percent of workers have them. Most public sector workers still have
them—more than 20 million are either now receiving or looking forward to a
pension. However, public sector pensions are coming under ...
American Enterprise Institute
Sadly, large
public pension funds are increasingly being used for activism, with members'
retirement treated as a subordinate concern. For example, California Public
Employees' Retirement System (CalPERS) and New York City Employees' Retirement
System (NYCERS) have both embarked on ...
Sacramento Bee
Gov. Jerry Brown
this week predicted that his 2012 pension law will survive union challenges in
court and blow a hole in the so-called 'California rule' that has restricted
changes to public employee retirement plans for half a century. “When the next
recession comes around, the governor will have the ...
Hartford Courant
Speaking to
reporters at the Capitol, Smith and Patricelli said the group will look at
unfunded state and teacher retiree pension and health care obligations,
collective bargaining for public employee pensions and health care and the
“structure of 169 towns” they say is inflating local property taxes.
Fort Worth Star Telegram
For the past
decade, hundreds of state and local pension funds have cut benefits, increased
employee contributions and converted from defined-benefit pensions to
do-it-yourself plans, according to the National Conference on Public Employee
Retirement Systems. In 2016, Austin, Dallas, Houston and ...
The Coloradoan
Both parties
pledged to stabilize the Colorado Public Employees' Retirement Association,
which by some accounts has more than $30 billion in unfunded liabilities — and
at a time when Colorado's workforce is aging. Opinions differ on how much the
state or workers themselves should contribute to the ...
U.S.
News & World Report
The
governor urged lawmakers to address an underfunded public employees' pension
fund; attack the opioid epidemic; and promote rural development to bridge the
economic divide between the Denver metropolitan area and rural eastern and
western Colorado. He insisted that his administration's ...
New York Daily News
That many pensions
will renege on their obligations is nearly a given. The magnitude of the issue
makes it a national, not just a local, problem, and a generational problem as
well. Thus the health and viability of pensions deserves more individual
attention and public planning than it currently receives.
ARIA Pensions
American public
pension plans are among the beneficiaries of a strong stock market, including
North Carolina's retirement system. Reporting for the Asheboro Courier-Tribune,
Dan Way quotes the state's treasurer Dale Folwell saying North Carolina is
“seeing a surge” in retirement plan investment ...
Mason City Globe Gazette
The future of Iowa
Public Employees' Retirement System, or IPERS, continues to be in the news and
as chairwoman of the joint House-Senate Public ... Every other year, the Public
Retirement Systems Committee is required by law to meet and review our state's
various pension systems to ensure their ...
The News Tribune
They fear they
will be forced to consider raising taxes or making deep cuts elsewhere while
also shorting public pensions and highway projects next year, when Brownback is
out of office. "It's irresponsible budgeting," said Senate Ways and
Means Committee Chairwoman Carolyn McGinn, a moderate ...
Oregon Business
In contrast,
little meaningful progress has been made on controlling public pensions costs
in the state. As a result, the costs associated with funding the Public
Employees Retirement System (PERS) will continue to consume ever-larger chunks
of the state budget until action is taken, and that means less ...
Chief Investment Officer
The NHRS pension
plan is currently 61.8% funded, with Fosters reporting that the system is
estimated to be $5 billion underfunded. The system is funded by contributions
from public employees, the employer cities and towns, and returns on
investments. When the state ceased its contributions in 2012, ...
West Virginia MetroNews
Jeff Fleck,
executive director of the state Consolidated Public Retirement Board, told
legislators that investment payoffs will reduce the amount the state has to pay
into pension plans for the coming year by $32,803,000. “As I've said it's been
a very good year,” Fleck told the Joint Standing Committee on ...
Pensions & Investments
The reduction in
the assumed rate of return for the New Jersey Pension Fund, Trenton, although
dramatic, is part of a continuing trend of rate revisions by public pension
plans. "Normally, we see a more typical change of 25 basis points,"
said Keith Brainard, the Georgetown, Texas-based research ...
Wall Street Journal
The state's
powerful public-sector unions, which endorsed his progressive vision of higher
taxes and more spending, played a pivotal role in his 14-point victory. Now the
hard part begins. As he takes office later this month, Mr. Murphy must confront
the state's biggest problem—a pension system that is ...
Pension Policy International
U.S. public pension
fund members are generally unaware that their pension is underfunded and of the
risk this poses, according to a survey released Thursday by Spectrem Group. The
study also reveals a wide gap between how members want their pension funds
managed and the actual approach ...
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