NCPERS News Clips

4/6/2010

News Clips for April 6, 2010

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• Calif. ethics panel to fine pension fund member
  A board member of the nation's largest public pension fund could be facing an ethics fine.
• Detroit council opposes plan to dissolve pension systems
  The Detroit City Council unanimously voted to oppose state legislation that would dissolve the city's pension systems.
• Defined contribution plans create retirement insecurity
  A major looming problem for Americans is the accidental retirement plan - known to most people as the 401(k) - which began as a tax loophole to shelter the income of executives.
• Schools Face Mounting Pension Crisis
  Schools now paying the equivalent of 4.78 percent of the employee payroll will see the rates rise to 8.22 percent starting in July, then to 10.59 percent in July 2011 before the leap to 29.22 percent in 2012.
• Officials scrambling to find solution to hike in PSERS payments
  Delaware County school districts are facing a total $98.5 million in pension funding payments come the 2013-14 school year, according to an analysis performed by the Delaware County Intermediate Unit.