News Clips for August 15, 2017
How the GOP is quietly sabotaging retirement for millions
The GOP has taken two important steps that will make it more difficult for Americans to save for retirement.
Labor Department wants to reward financial advisors at the expense of consumers
The department would like to delay implementation until July 2019.
Would employers drop DC plans for state-run plans?
The bigger the retirement plan, the more likely an employer would be ready to abandon it to shift employees to a state-run retirement plan.
Do Americans Participate Enough In Retirement Plans?
Recently some analysts have queried: why do so few Americans participate in their pension plans? For this purpose, the pension participation rates, or the fraction of employees who either contribute to a defined contribution (DC) plan or are covered by a defined benefit (DB) plan, is often used as a key performance metric for the U.S. voluntary employer plan system.
Teacher shortage looms as school year approaches
(Alaska) JSD in need of special education positions in particular
Kentucky Retirement Systems gains 13.5% in fiscal year
Kentucky Retirement Systems, Frankfort, returned a net 13.47% in the fiscal year ended June 30, 18 basis points above its benchmark, according to a performance update posted on the systems' website.
Mississippi Public Employees logs 14.96% return for fiscal year
Mississippi Public Employees' Retirement System, Jackson, returned a gross 14.96% in the fiscal year ended June 30, 110 basis points above its policy benchmark, said Shelley Powers, spokeswoman, in an email.
North Carolina returns 10.6% in fiscal year, names interim investment directors
North Carolina Retirement Systems, Raleigh, returned a net? 2.7% in the quarter and 10.6% for the fiscal year ended June 30, according to preliminary results.
Oklahoma Firefighters scores 14.3% fiscal-year return
Oklahoma Firefighters Pension & Retirement System, Oklahoma City, returned a preliminary net return of about 14.3% for the fiscal year ended June 30, surpassing its benchmark return of 12.9%, said Troy Brown, director of consulting at AndCo Consulting, investment consultant to the $2.3 billion pension fund, in an email.
Oregon schools cut staff and programs despite big budget increases
Oregon's public schools have seen their budgets increase by more than $400 million this year, roughly double the bump they've gotten each of the past three years. But sharply escalating personnel costs, including for employee pensions, forced many districts to trim teaching positions and programs.
Auditor general criticizes pension fees as performance lags national averages
(Pennsylvania) Auditor General Eugene DePasquale said Thursday the pension for state workers has made strides but still pays too much to investment managers while the fund underperforms in comparison to public pensions in other states.
Why SC teacher pensions matter to all of us
In this year's legislative session, teachers saw a potential attack on our pensions turn into a reasonable, bipartisan compromise. Lawmakers rejected a plan to switch newly hired teachers to risky defined-contribution plans. Unfortunately, we can expect the same attack next year. This would be wrong for South Carolina.
Why public employee pensions matter in Texas: Column
In the past few years, I've seen my fair share of attacks on public employee pensions.