NCPERS News Clips

11/10/2009

Veterans Day

This week's edition contains assorted pension stories from around the states, and one rather large story from the national level. So, instead of giving you the details upfront so you don't have to read the links, I'll instead let you know that the November issue of the Monitor is now available. To read about the issues NCPERS is working on in the Nation's Capital, please click here.

Lastly, please take a moment to remember and celebrate our nation's servicemembers, past and present, this Veterans Day.

• US: Sweeping Health Care Plan Passes House
  Handing President Obama a hard-fought victory, the House narrowly approved a sweeping overhaul of the nation's health care system on Saturday night, advancing legislation that Democrats said could stand as their defining social policy achievement.
• CA: Justices question pension conflicts
  The California Supreme Court sounded ready yesterday to end the prosecution of six former city of San Diego pension board trustees, a move that could shut down part of a long-running legal battle.
• CA: Group again files proposed measure to reduce public pensions in California
  A public pension group has refiled proposed ballot measures that would create a mandatory second-tier pension system for new public employees hired by the state, counties, cities and other non-federal government agencies in California.
• CA: Is It CalPERS' Turn to Clean House?
  The California Public Employees' Retirement System has long pushed companies to clean up their acts. Now the nation's largest pension fund is getting flak for its own governance practices.
• IL: No benefit changes to be proposed by state pension task force
  Another task force on Illinois' massive state pension problems is set to wrap up its work next week, but it appears the group will not formally recommend changes to pension benefits as a way to save money.
• MI: Public pension system worries about 401(k)s (Opinion)
  Can 401(k) -- also known as defined contribution -- plans really provide an adequate retirement? The answer, many experts agree, is an emphatic "no."
• LA: Berkshire, Burlington Northern Sued by Shareholders Over Deal
  Warren Buffett's Berkshire Hathaway Inc. and Burlington Northern Santa Fe Corp. were sued by investors over claims Berkshire's acquisition of the railroad won't maximize shareholder value.
• FL: Pension system on the rebound
  The Florida Retirement System pension fund posted a 19 percent negative return for the fiscal year ended June 30. Improving financial markets for the quarter that ended Sept. 30 helped the fund recover some of its losses.
• IA: Lawmakers predict changes in public employee retirement programs
  State lawmakers said Monday they expect action next session to make changes to public employee retirement programs but the scope will be tempered by the ability of government entities to invest more.