News Clips for March 14, 2017
13 Retirement Fears That Worry Both Major Political Parties
A comfortable retirement takes decades of planning. As if you needed another thing keeping you up at night, get this: About 75% of Americans over 40 are behind on saving for retirement. Even more, 1 in 3 Americans have absolutely nothing saved, according to a survey by GoBankingRates.com.
Budget referee may call foul on Obamacare repeal
A market-oriented Republican economist could prove to be a formidable obstacle for the GOP lawmakers who appointed him.
Congress Must Restore Protections for State-run Retirement Plans
Unless Congress acts, millions of private-sector workers could lose vital consumer protections if they are automatically enrolled in questionable government-run retirement plans under consideration by states and cities across the country.
Panel supports pensions' tweak
(Arkansas) Won't fall, road retirees told
Malloy's budget takes a beating over teacher pensions, hospitals and deficits
(Connecticut) Gov. Dannel Malloy's budget chief faced a barrage of tough questions Thursday from both sides of the political aisle.
Senate Approves Kean Legislation to Transfer Governance of Police & Fire Pension System
Legislation sponsored by Senate Republican Leader Tom Kean to transfer governance of the Police and Firemen's Retirement System (PFRS) from the New Jersey Division of Pension and Benefits to a newly empowered PFRS Board of Trustees has been approved by the New Jersey Senate.
House legislation strengthens firefighter pensions
(Oklahoma) Legislation that strengthens the pension system for Oklahoma firefighters has passed the House with a vote of 93 to 0.
Oregonians prefer spending cuts to tax increases to close state's $1.6 billion budget gap, poll finds
Most Oregonians would prefer that state lawmakers close a $1.6 billion budget gap by decreasing spending rather than increasing taxes, according to a new poll released Monday by the Oregon School Boards Association.
Board to Puerto Rico: Cut pension system, impose furloughs
A federal control board on Monday said Puerto Rico's government needs to cut its public pension system by 10 percent, furlough tens of thousands of its workers and eliminate Christmas bonuses if it cannot generate other types of savings amid a nearly decade-long recession.
How PSERS Pa. Teachers' pension fund beat market indexes in 2016
PSERS, the $50 billion+ Pennsylvania Public School Employees' Retirement System, says it posted 2016 calendar-year returns of 10.7%, as its mix of energy, real estate, private, stock and bond investments outperformed both its 7.25% long-term annual target, and other large area pension systems.
Lawmakers could end state pension plan for new employees
S.C. lawmakers eventually could walk away from the state's pension plan.
Republican senators join Democrats in sharply questioning Abbott's pension board chair
(Texas) Sen. Birdwell: "I certainly understand the trepidation if somebody said, 'Hey, we're going to change your defined benefit plan, at the age of 55, to a defined contribution plan and you're going to have to start over.'"