News Clips for October 3, 2017
NCPERS Washington Update for 9-28-2017
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How America's retirement savings system needs to change
If you're young and working paycheck to paycheck, saving money decades into the future might not be the most pressing thing on your mind. But it's important to have financial security when you retire, which is becoming a growing problem for Americans. One-third have nothing saved once they leave the workforce.
THE NEW REALITY OF OLD AGE IN AMERICA
"I'm going to work until I die," says one 74-year-old in a generation finding it too costly to retire.
GOP plan: Pension changes would take effect without workers' consent
(Connecticut) Under the Republican budget passed by the General Assembly this month, changes to the state employee pension plan would take effect in 2027 without union approval. (subscription required)
New state employee pension plan coming, but not soon
(Illinois) Part of the deal that ended the budget impasse in July called for creation of a new pension plan for many of those covered by state-funded pension plans.
Florida is one of the worst states for teachers, study says
A new study supports what many local educators have long suspected: Florida is one of the worst places to be a teacher.
State legislators talk pensions at Ashland forum
Four of the region's state legislators addressed the Kentucky pension crisis during a forum in Ashland Thursday night, saying the state needs to maintain the promises made to the state's public employees in their benefit and retirement packages.
TOP DEMOCRATIC LEADERS WANT COPS, FIREFIGHTERS TO MANAGE THEIR OWN PENSIONS
(New Jersey) Sweeney, Prieto gear up for another push to create new board for PFRS - the Police and Firemen's Retirement System
Rhode Island Pension Fund Earns $64.2 Million in August
Despite outperforming its benchmark, the returns were less than half that of July.
Seattle mayor proposes secure choice program
Seattle would have a private-sector IRA program through workplaces under a legislative proposal announced Monday by Mayor Tim Burgess, who assumed office a week ago following his predecessor's resignation.
Texas Teachers returns 12.9% for year, tops benchmark for all periods ended June 30
Texas Teacher Retirement System's net returns topped those of the pension fund's benchmark for every period ended June 30, showed an investment report from Aon Hewitt, the Austin-based retirement system's consultant.
Actuaries consulting on the future of Canada's retirement age
The Canadian Institute of Actuaries is consulting with its members on the development of a public statement for policy-makers about what's next for Canada's retirement age.