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October 31, 2017: NCPERS News Clips
Posted On: Oct 31, 2017
Happy Halloween! 

News Clips for October 31, 2017


National News

7 disturbing findings about 401(k)s, IRAs
     Moving from defined benefit pension plans to defined contribution plans has not done the average U.S. worker any favors.

Nobel Laureates Stiglitz, Spence Lead New Group to Tackle World's Economic Woes
     Nobel laureates Joseph Stiglitz and Michael Spence are leading a new initiative to find solutions to what they see as a dysfunctioning market economy.

State News

Cuts to 401(k) plans without conscience
     (Colorado) I write to sound an alarm about proposed cuts to 401(k) plans. If you have ever contacted your senator and congressperson, now is the time and this is the issue.

St. Joseph Pensioner Quinn Worked 34-Years and Now Facing Cuts to Her $500 a Month Payment
     (Illinois) Kathy Quinn, after 34 years faces cuts to her $500 a month pension

Where State Reps In West Kentucky Stand On Pension Reform Bill
     There are no confirmed "yes" votes yet from state representatives in west Kentucky for Governor Matt Bevin's proposed pension reform bill.

RI's Pension Fund Earns $872 million in Past 12 months
     Rhode Island's pension fund earned $74.3 million in the month of September and over $872 million in the last 12 months since the announcement of Treasurer Seth Magaziner's Back to Basics investment strategy.

State to see savings in pension costs
     (Vermont) Teachers and state and municipal workers in Vermont are set to save millions in pension administrative costs thanks to a new deal reached by State Treasurer Beth Pearce.

Canadian News

CPP enhancements might spark some big changes
     The increase in Canada Pension Plan benefits and contributions could change plan designs, contributions and benefit formulas of many of the country's other retirement plans, sources said.


Failing U.S. retirement system needs to be fixed
     The three-legged stool that is the U.S. retirement system - Social Security, employer-sponsored retirement plans and personal saving - is failing. All three legs need to be repaired or the whole system redesigned.


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