News Clips for March 29, 2017
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Pensions are not pots of gold for irresponsible lawmakers
Pensions might look like a pot of gold to politicians right now, but they should go follow another rainbow if they want extra funds to pay state bills. Public pension funds need to stay right where they are.
Supreme Court hears arguments on pension plans under ERISA and venues for patent litigation
In Advocate Health Care Network v. Stapleton, the court heard arguments on whether the Employee Retirement Income Security Act (ERISA) [materials] church-plan exemption applies in circumstances where the qualifying church simply maintains the pension plan instead of establishing it.
Why Pew Is Working To Strengthen Public Pension Systems
The Pew Charitable Trusts works on public pensions because pension obligations rank among the most significant fiscal challenges facing states and municipalities today.
Digital approach to millennials can boost retirement savings participation
Retirement plan providers need a new approach-literally-when it comes to engaging millennials: going digital.
U.S. retirement assets rise 6.1% in 2016 - ICI report
U.S retirement assets reached $25.3 trillion as of Dec. 31, up 1.4% from Sept. 30 and up 6.1% for the calendar year, according to quarterly data compiled by the Investment Company Institute.
Pension reform gets a public hearing, union leaders fear Connecticut will become Arkansas
A public hearing before the powerful state appropriations committee on Friday became a referendum on state employee pension benefits and the collective bargaining process that ran almost ten hours.
Mayor Curry files Jacksonville pension reform legislation
(Florida) The legislation asks City Council to approve using future sales tax revenue, which would start to pour in around 2031, as a present-day asset that would enable the city to reduce its annual pension contributions in the years until the sales tax begins.
Rauner vetoes bill to shore up Chicago municipal workers pensions
Gov. Bruce Rauner on Friday vetoed legislation designed to shore up the pension funds for city of Chicago laborers and other city workers.
SCOTUS takes securities-fraud clash involving Indiana pensions
The U.S. Supreme Court agreed to use a case stemming from a New York City contract fraud to clarify investors' ability to sue companies for omitting information from shareholder reports.
Budget Woes Have Kansas Lawmakers Struggling With Pensions
Kansas legislators are trying to avoid the kind of moves with funding for public employee pensions that previously clouded the retirement system's long-term financial health.
Kentucky Governor Intent On Addressing Public Pension Woes
Failure to address the crises could result in draconian pension cuts in the future.
Police spouses, school workers, firefighters, politicians affected by Louisiana legislative bills
Bill affecting pensions for Louisiana police spouses, school workers, firefighters and politicians have been filed for the Legislature's 2017 regular session starting April 10.
General Assembly sends bill to governor for New Jersey police, fire pension plan autonomy
The New Jersey General Assembly on Thursday voted overwhelmingly to allow the Police and Firemen's Retirement System to break away from the New Jersey Department of the Treasury administration and investment management.
PERS: Lawmakers consider public pension reform bills
Oregon's public pension system was back in the spotlight this week as lawmakers zeroed in on possible reforms.
Houston firefighters remain opposed to pension changes as bill makes way to House
The City of Houston moved a step closer to resolving the long-running employee pension deficit Monday with the introduction of a bill in the Texas House Pensions Committee.
401(k)-style plan not the answer for SC teachers
The state Senate's plan to eventually close the state employee pension fund for future employees and place them into a risky, inefficient 401(k)-style plan is the wrong direction for South Carolina, and the House should reject this idea.