News Clips for November 28, 2017
GOP Tax Overhaul Could Hit State and Local Pension Plans With Federal Tax
State and local government pension plans would be confronted with new costs and complications under the Republican tax bill the U.S. House approved last week.
Funds fighting effort to add UBIT measure
Public plans displeased with House proposal on direct investments
Funded Status Alone Doesn't Tell a Plan's Full Story: Report
A pension's funded status should not be the sole measure of its health, and plan sponsors shouldn't decide whether or not to keep a plan open based solely on the metric, a new study by the National Conference on Employee Retirement Systems (NCPERS) says.
Public Pensions Have Been Able to Pay Promised Benefits
New research shows that funding status has little correlation with a pension fund's ability to pay its promised benefits, and NCPERS urges policymakers to stop trying to shut down public pensions.
Fossil Fuels' Fishy New Friends
How public affairs firms engineered a "grass-roots" group defending oil and coal investments.
Cash balance plans growing in popularity
The number of new cash balance plans grew by 17% in 2015, while the number of new 401(k) plans only went up by 3%, according to Kravitz, an Ascensus company.
401(k) vs. defined benefit plans: A geographic breakdown
There's a lot of talk about the adequacy of the current 401(k) system. Naysayers complain it's not broadly accessible, and in a sense, that's true. According to the latest data from the Bureau of Labor Statistics' National Compensation Survey, 40 percent of all workers don't have access to a defined contribution benefit. (The BLS is talking only about company-sponsored benefits, not IRAs.)
California should be able to reduce public employees' pension benefits, Jerry Brown argues
Gov. Jerry Brown got most of what he wanted when he carried a proposal to shore up the state's underfunded public employee pension plans by trimming benefits for new workers.
Political Scene: Major filing due in 2011 pension overhaul suit
(Rhode Island) Six years later, the legal fight over the 2011 pension overhaul championed by then-Treasurer Gina Raimondo is still winding its way through the state courts, with the next big filing due Monday.
Aiken City Council debates possible pension changes
(South Carolina) The Council discussed possible ages of eligibility, contribution rates, vesting thresholds and whether or not part-time employees would qualify.
Mayor Signs Retirement Savings Plan Into Law
(Washington) Along with signing the City budget, the mayor also put into motion the nation's first city-faciliated, privately-administered retirement savings plan.
Companies should have to pay pension funds before shareholders: Report
A report by the Canadian Centre for Policy Alternatives calls for companies to make good on any pension shortfall before paying dividends.
Can the Liberals' infrastructure bank live up to political promises?
The infrastructure bank, and its plan to lure private money to finance 'transformative' projects, is still a question mark for many Ottawa watchers
World Bank report shines spotlight on Canadian pension model
Canada's top pension funds share best practices for building world-class pension organizations
Stop playing the pension blame game
When a city, school district or other local government agency gets into financial trouble and pulls out of the California Public Employees' Retirement System because it can't make its required contribution to the pension fund, that bodes ill for the benefits it has promised its retirees.