News Clips for August 22, 2017
Baby Boomers Not Ready For Retirement
Consider the stereotype of stodgy old codgers, set in their ways. Unable or unwilling to accept changes and handle risk, these overly cautious folks allow opportunities to pass them by. Could this stereotype fit baby boomers in their approach to retirement? Perhaps, given that a new survey from Legg Mason suggests that boomers are falling short on their retirement savings goals due to an overly conservative investment approach.
Taxpayers Not Burdened by Public Pensions
According to a study by NCPERS, public pensions are generally cost-effective and pump trillions of dollars into local economies.
Tax reform efforts put retirement plans at risk
As Washington policymakers turn their attention to tax reform, plan sponsors and retirement lobbyists are becoming increasingly concerned that the tax advantages of retirement savings are in real danger.
Republicans, stop trying to 'fix' IPERS!
(Iowa) We retirees, who paid into IPERS during our working lives, couldn't be happier because this same group of legislators are the ones who took the state's millions in surplus money and managed to turn it into a deficit so severe that the state struggles to pay income tax refunds.
Kentucky Universities Mull Split from State Retirement System
Plan has already gone to Council on Postsecondary Education
Christie may not like what Wall Street just said about his plan to ease pension pain
(New Jersey) Gov. Chris Christie's administration pitched the transfer of proceeds from lottery ticket sales into government worker pensions as a windfall, but a Wall Street ratings house says it won't cure the worst-funded pension system in the country overnight.
New Mexico's Two Largest Public Pensions Could See Benefit Reforms
Despite double-digit returns, the systems aren't out of the woods yet
OPERS may cut retiree cost-of-living benefit hikes
Ohio's largest public employee retirement system is looking at reducing or temporarily withholding annual cost-of-living adjustments - or COLA, which could eventually affect 1 million members.
Philadelphia Pension Returns 12.9% in FY 2017
Top performances in stocks, equities
Texas state workers fear fallout from changing math on pensions
The Employees Retirement System of Texas is considering lowering its earnings assumption for the $26 billion trust fund. Labor advocates fear the move would push lawmakers to cut benefits or require current workers to chip in more.
Rising old age security spending kept in check by CPP increases: report
A mandatory review of the country's largest seniors benefit program is predicting all-time highs in spending over the coming years with waves of baby boomer retirements - spending levels that could have been even higher if not for changes to the public pension program.