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December 5, 2017: NCPERS News Clips
Posted On: Dec 07, 2017

News Clips for December 5, 2017

National News

New Tax Reform Law Restricts 401(k) Contributions
     An amendment to the Senate version of the sweeping new tax reform bill hinders the ability of older Americans to build up their retirement funds on a pre-tax basis.

Senate bill may make retirement plans less attractive for some employers
     Though the new Senate tax reform bill, passed Saturday morning, leaves retirement plans, including 401(k)s, unscathed, one provision may have an impact on whether or not some small businesses offer retirement plans.

Rep. Richard Neal introduces two workplace retirement savings bills
     Two bills that would require most employers to offer a defined contribution plan and simplify some retirement savings rules were introduced Friday in the House by Ways and Means Committee ranking member Richard Neal, D-Mass.

House Bill Would Allow Sponsors to Force Larger Auto-IRA Cash Outs
     The Retirement Plan Modernization Act would raise the automatic IRA rollover limit, based on the rate of inflation, from $5,000 to $7,600 and allow for future increases to be indexed for inflation.

State News

Bevin still aiming for special session on pension reform by year-end
     (Kentucky) The Republican governor said he wanted to avoid mixing that controversial issue with the arduous task of crafting a two-year state budget in the regular session that begins on Jan. 3.

Climate change a risk to Md.'s pension system
     Pension funds, unlike commercial banks, have to manage returns for the long term so as to ensure they fulfill the promises made to employees who may be decades from retirement. Thinking about the future - and new financial risks - is therefore one of their most important responsibilities.

Snyder, GOP leaders unveil retirement reform plan
     (Michigan) Republican Gov. Rick Snyder and legislative leaders are pursuing a plan that could force some public employee retiree health care cuts in communities struggling with major unfunded liabilities.

Jersey's troubled public worker pension system just hit a mark not seen in 2 years
     State officials disclosed the fund held $76.3 billion in assets at the end of the October, its highest value in over two years. 


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