News Clips for March 7, 2017
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NCPERS Washington Update for 3-3-2017
State I.R.A Plans Are Ready, if Congress Doesn't Interfere
Thirty- nine million Americans work for an employer without a payroll- deduction retirement savings plan, and many of them are saving little or nothing.
More Americans Live in Fear of Retiring Poor
A few weeks after the Republican-controlled U.S. House of Representatives moved to kill rules allowing states to create portable retirement savings accounts, a new survey found that 75 percent of Americans support just such an option.
Senator offers bill to increase multiemployer plan participants' rights
Sen. Rob Portman, R-Ohio, introduced legislation Wednesday that would give participants in struggling multiemployer pension plans more weight in decisions to reduce benefits.
Arizona State Retirement lifts private debt allocation, lowers high yield
Arizona State Retirement System, Phoenix, is increasing its target allocation to private debt to 12% from 10%, said David Cannella, pension fund spokesman, in an email.
Miami could owe millions after losing high court case over cuts to police pay and pensions
In a ruling that could have dramatic financial consequences, Florida's high court sided Thursday with Miami police officers fighting to undo unilateral cuts to their salaries and pensions made years ago during a financial crisis.
Chance the Rapper to Illinois Governor: 'Do Your Job'
Grammy winner meets Bruce Rauner about Chicago Public School funding, but is disappointed by "vague answers"
Illinois Senate passes contribution bill for Chicago teachers pension plan
Approval contingent on set of bills, including further pension reform The Illinois Senate on Tuesday passed a bill approving additional state contributions to the $9.5 Chicago Public School Teachers' Pension & Retirement Fund, totaling $436 million for the next two fiscal years.
House advances bill for offering 401(k)-style retirement plan to new teachers
The Indiana House on Monday approved a plan to allow new teachers in the state to opt into a 401(k)-style retirement plan as an alternative to the current pension-style plan already offered to teachers here.
Kentucky Bill To Separate Healthy Pension System From Ailing One Put On Hold
A bill that would separate the relatively healthy retirement fund for local governments from one of the state's ailing pension systems is dead - despite a push from local officials.
Pension fury: N.J. cops, firefighters just rose up against Christie
Furious after watching pension investment fees triple over the last three years even as their funds lost value, police and firefighter union leaders are seeking to wrest control of their underfunded pensions from the state.
Putting Philadelphia's $149 million pension fund loss into context
It is not hyperbole to blame Philadelphia's underfunded pensions for the city's high taxes, dirty sidewalks, potholed-filled streets, and struggling schools. Every dollar the city has to contribute to fill the pension gap is a dollar that could have gone towards fixing one of those pressing problems.
SC Senate unanimously passed plan to repair state pensions - and then shut them down
The South Carolina Senate voted unanimously Wednesday for a plan aimed at repairing the underfunded state pension plans that support one out of nine residents - and then shutting the pension plans down.
Dallas Mayor Leaves Lawsuit Meant to Stop Pension Withdrawal
Dallas Mayor Mike Rawlings has withdrawn from a lawsuit he filed as a private citizen against the Dallas Police and Fire Pension system in an effort to prevent the plan from making large lump-sum payouts on deferred retirement funds.