News Clips for May 30, 2017
Another State-Run Auto-IRA Plan Gets a 'Green' Light
President Trump may have unwound the ERISA safe harbor for state-run retirement plans for private sector workers, but that didn't keep another state from approving its program.
Census Bureau: Public pension contributions rise 6.6% in 2016 but assets fall 1.6%
State and local government defined benefit plan contributions totaled $191.6 billion in 2016, up 6.6% from the previous year, according to the U.S. Census Bureau's 2016 annual public pensions survey.
Connecticut governor proposes new hybrid plan, contribution and COLA changes
Connecticut Gov. Dannel P. Malloy announced a proposal Tuesday that would create a hybrid retirement plan for new employees, raise non-hazardous employee contributions for current employees and curb cost-of-living adjustments.
Illinois House panel advances tax-hike legislation
Illinois House Democrats tried to digest some unpalatable budget choices Monday, chewing on a Senate proposal with $5 billion in new taxes and some questionable savings that some members think the taxes won't cover.
New La. Budget Project report shows state pensions drive economy
Louisiana's state pension systems are critical to working families and retirees across the state, and also serve as key economic drivers in every city, town and parish in Louisiana. Particularly in rural areas, public pension benefits are a substantial source of the personal income and economic activity.
House, Senate leaders move ahead on teacher pensions
(Michigan) House and Senate Republican leaders have moved forward with state budget targets and agreed to set aside $475 million for teacher pension reform.
10.5% RETURNS FOR NJ PUBLIC PENSION SYSTEM, BIG TURNAROUND FROM LAST YEAR
Investment council maintains strategy, continues to cut back hedge funds, waits to see if Legislature will take up governor's Lottery proposal
Bipartisan work underway in Pa. on pensions; bill likely won't pay down debt
A bipartisan group of legislative leaders has been working on a major proposal to change how state employee pensions are structured.
Winners and losers in new SC pension law
The changes will help the state afford to pay roughly $20 billion in benefits already promised to retirees. The new law will infuse money into that system. A look at who wins and who loses under the new pension law:
Who killed retirement security? If you look closely, it wasn't the 401(k)
"America's retirement savings system has failed," famed financial planning author Jane Bryant Quinn has said - and she isn't short of company.
Some questions for Gov. Bevin to answer
(Kentucky) Back in January of last year, Bevin was complaining about news stories suggesting his first budget would cut money for an arts council. But he could have put an immediate end to those stories simply by answering reporters' questions.