NCPERS News Clips

4/20/2010

News Clips for April 20th, 2010

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• Pension costs swell Grand Rapids city budget deficit
  Things have gone from bad to worse for the city. As if a $17 million deficit wasn't crippling enough in this economy, officials now have to tack on another $3.7 million in debt.
• The Grudge Match Over Your 401(k)
  A number of people who are changing jobs, being laid off or retiring are finding themselves in a tug-of-war between their former employers and investment firms eager to win their business. At stake: almost $400 billion of assets in 401(k)s
• New myths and distortions about public pensions from a failed Governor
  In his latest weekly video address California Governor Arnold Schwarzenegger has once again stepped up his rhetoric with myths and distortions about public pensions.
• Teachers' Pension Gap May Be Triple That Reported
  Taxpayers across the U.S. owe public school teacher retirement accounts about $933 billion, nearly triple the amount reported by the plans themselves, a study says.
• Missouri Senate Endorses Bill Shrinking Pensions
  Missouri senators have endorsed legislation designed to save money through changes to public retirement systems, including increasing the minimum retirement age and requiring workers to contribute to their pensions.
• Study finds teacher pension funding gap, but state disagrees
  Teachers looking to retire in big numbers due to layoffs or other reasons nationwide could find that the money they expect to finance their futures is not all there.
• Pension system ensures qualified teachers in every classroom
  With my educational background, I could have made more money working in other fields. I believed then - as I do now - that teaching is a calling as much as a profession, a way to serve my community and our society.
• Police, firefighters unions at odds with city over pension fix
  $64 million needs to go into the fund unless changes are made by June 30
• Firefighters boycott winemaker who criticized pensions, pay
  North Bay firefighters launched a boycott of a Napa Valley winery this weekend after its owner criticized their wages and benefits in a letter published in the St. Helena Star.