News Clips for August 7, 2018
NCPERS NewiNCPERS August Monitor is now availabl6
Register for our webinar 'Dedicated Managed Accounts - Taking Control of Your Hedge Fund Allocations' with BNY Mellon on September 11, 2018!
Register for our 2018 Public Pension Funding Fo
You can now register for the 2018 Public Safety Conference!
Watch our mid-year webcast on legislation concerning public pensions!
NCPERS Washington Update for 8-7-2018
Controversy simmering over gauging pension obligations
Debate over the proper way to measure pension obligations is once again in the spotlight, with the Actuarial Standards Board considering yet another way to measure them and a special congressional committee on multiemployer pension plans debating whether current practices control enough for investment risks.
'Too Little Too Late': Bankruptcy Booms Among Older Americans
For a rapidly growing share of older Americans, traditional ideas about life in retirement are being upended by a dismal reality: bankruptcy.
Cash Incentives Boost Financial Wellness Program Performance
A report from Bank of America Merrill Lynch shows employees who do not feel financially well are most concerned about shorter-term financial goals, whereas employees who do feel financially well are most concerned about long-term goals.
Three Worries About State Auto-IRA Programs
Are state-run autoenrollment IRA programs a solution, however partial, to Americans' unpreparedness for retirement? For the uninitiated, these are programs -- already in effect in Oregon as OregonSaves, and with implementation underway in California, Connecticut, Illinois, and Maryland -- in which employers who do not offer their own 401(k) or similar retirement savings program must enroll their employees in a state-run IRA, with individual employees able to opt-out if desired. Contribution levels are fixed at 5% in Illinois, start at 5% and auto-escalate to 8% in California, and auto-escalate from 5% to 10% in Oregon.
State Supreme Court sides with union over San Diego pensions
In a win for public employee unions, the California Supreme Court on Thursday said San Diego's mayor should have met with representatives for city workers before the city placed a measure on the 2012 ballot that cut workers' retirement benefits.
Colorado pension outlook stronger following reform; policy analyst says more can be done
Colorado's public pension financial standing has improved in the past 18 months, leading many to praise the effectiveness of a recent overhaul of the state's public pension system.
Jacksonville City Council panel gears up for budget deep dive
(Florida) August is here, and the annual review of the city of Jacksonville's budget by the City Council's Finance Committee is imminent.
ERIC Tries to Reroute New York City Private-Sector Retirement Plan Proposal
ERIC asks that employers with ERISA plans be exempt from the city program-also that the city council change the program's eligibility criteria.
Pennsylvania Pension Panel Looks to Cut Investment Managers' Fees
Study group searches for ways to bridge shortfall in state workers' and teachers' plans.
Retired Texas teachers face giant hurdle to pension boost
To give retired teachers a chance at a pension bump - something that hasn't happened in more than a decade for some - the Legislature will have to approve at least an additional $786 million in funding annually, according to new data from the Teacher Retirement System of Texas.