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December 11, 2018: NCPERS News Clips
Posted On: Dec 12, 2018

News Clips for December 11, 2018


National News

States Boost Access to Retirement Plans, Seeking to Close Savings Gap
     California and Illinois launch government programs to shore up households financially under-prepared for retirement (subscription required) 

State News

California Supreme Court considers major pension dispute
     California's top court wrangled Wednesday over whether the state may eliminate a pension benefit for state workers without running afoul of decades of protective pension precedents.

West Haven PD, losing officers, pleads with city to return to a traditional pension plan
     Nearly 10 years after the city, as the result of a controversial arbitration award, switched the Police Department from a chronically underfunded traditional pension plan to a 401(k), police are pushing the city to switch back, saying the change was a bad deal.

Illinois Supreme Court ruling outlines problem
     The Illinois Supreme Court last week issued a complicated, unanimous decision that didn't make a ripple on the news.

As pension costs rise, agencies cut jobs - which hurts pension funding
     (Iowa) Most agencies within the main pension plan for state government workers are now required to pay a staggering 83 cents in pension costs for every $1 they pay in salary.

State Considering Automatically Enrolling Private Employees in Government-Run Retirement Plan
     (New Jersey) The senate is considering a bill that would automatically enroll private sector workers in a government-run retirement plan.

PERS: Pension cost problems will get worse in 2021, actuary says
     If you think Oregon has pension affordability problems now, wait until 2021.

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