News Clips for August 15, 2018
Social Security will not protect retirees from rising income inequality, study finds
If income inequality continues to grow, so too will the gap between wealthy and struggling retirees.
State treasurer and AARP release second CalSavers video in weekly series
California State Treasurer John Chiang and AARP on Wednesday released the second in their ongoing series of CalSavers promotional videos called "CalSavers Overview."
Gov. Matt Bevin compares pension reform opponents to 'drowning victims'
Gov. Matt Bevin on Tuesday compared opponents of pension reform to "drowning victims" who are "pulling you under."
KY Supreme Court Agrees to Hear Pension Case
The Kentucky Supreme Court says it will decide if changes to the state's struggling retirement systems are legal, setting up a high-stakes clash between Republican Gov. Matt Bevin and his potential Democratic opponent for re-election in 2019.
Maryland Earns 8% On Pension Funds, Raising Total To $52 Billion
For the second year in a row, Maryland's retirement and pension system beat its target return on investment, earning 8.06% and raising the fund that pays for retired teachers and state employees to almost $52 billion, a gain of $2.8 billion.
Minnesota's pension reforms receive praise, but more fixes may be needed
A bipartisan plan enacted this year to strengthen Minnesota's troubled public pension systems has earned bipartisan praise, but some pension experts warn that additional adjustments might be needed to avoid escalating long-term debt.
N.J. commission recommends moving new employees to hybrid fund
A commission composed of politicians, economists and financial professionals recommended that New Jersey develop a hybrid system for new employees and lower-tenured employees in two large pension systems within the $77.3 billion New Jersey Pension Fund, Trenton.
Milwaukee Firefighters Challenge Benefits Calculation
A local firefighters' union claims Milwaukee has violated amendments to the city charter and the union's collective-bargaining agreement by proposing to exclude agreed-upon pension offset payments from the calculation of their retirement benefits.
Canada pension plan reports 1.8 pct return in latest quarter
The Canada Pension Plan Investment Board (CPPIB), Canada's biggest public plan, said on Friday it delivered net investment returns of 1.8 percent in the latest quarter, benefiting from strong performance in assets that are not publicly traded.
We don't need to cut state employee benefits
An unfunded liability exists in the State Health Plan and the state's retirement plan, which means the systems are forecasted to require more money than currently available. It is a serious problem that needs the right solution.