NCPERS News Clips

7/28/2009

Summertime Rolls

This week's first link details the federal government's efforts on the issue of "pay to play" that has swirled around the public pension community for the last few months. As always, NCPERS will continue to monitor development on the issue.

• SEC to restrict investment firm donations
  Private investment firms would face restrictions on campaign contributions to U.S. public pension fund officials under a proposal that won provisional approval.
• Government studying company-sponsored automatic IRAs
  Not saving a dime in a 401(k) or an IRA? Uncle Sam wants you. The Obama administration's plan to bring retirement accounts to more working people, a concept known as the automatic IRA, is taking shape.
• Pension freezes rise, but are they effective?
  Nearly a third of the pension plans offered by Fortune 1,000 firms are now frozen, according to a report from Watson Wyatt. Though the rate at which companies are freezing plans has dropped since the peak year in 2006, the 190 plans now locked down represent a 12% increase from a year ago.
• NCPERS Responds to NPR Story on Pensions
  With regard to your recent report, California Pensions Forcing Cities into Bankruptcy, the National Conference on Public Employee Retirement Systems finds it to be at best incomplete and one-sided.
• Opinion: Dismantling public pensions would hurt more than help
  It's unfortunate that USA TODAY's July 13 editorial pits workers with some hope of retirement against the most vulnerable workers those lacking pensions ("Public-employee pensions put cities, states in tight squeeze," Our view, Retirement benefits debate).
• L.A. retirement fund enacts campaign disclosure rules
  The Fire and Police Pensions board, which manages an $11.9-billion portfolio, requires firms wishing to do business with it to report donations they have made to candidates for city office.
• NYC drops Iran links from pensions
  The New York City comptroller said he would divest the holdings in several companies in the New York City Retirement Systems because of ties to Iran.
• California Pension Fund Hopes Riskier Bets Will Restore Its Health
  Big as California's budget woes are today, so are the problems lurking in its biggest pension fund. The fund, known as Calpers, lost nearly $60 billion in the financial markets last year. Though it has more than enough money to make its payments to retirees for many years, it has a serious long-term shortfall.
• Maine retirement chief sees solid future
  State House reporter Susan Cover talked recently with Sandy Matheson, executive director of the Maine Public Employees Retirement System, about how the system has performed in a tough economy. Matheson took over at the retirement system a little more than three months ago, after working in Washington state.

National Conference on Public Employee Retirement Systems
444 N. Capitol St., NW Suite 630, Washington, D.C. 20001
Tel: 1-877-202-5706 Fax: 202-624-1439