NCPERS News Clips

3/9/2010

News Clips for March 9th, 2010

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• Giant California pension funds may lower earnings expectations
  Bruised by heavy losses and wary of the economic road ahead, California's two big public pension funds are considering reducing their official forecasts of future investment results.
• Va. Assembly banks on economic pickup for pension plan
  Virginia lawmakers are counting heavily on an economic upswing to minimize the harm of underfunding the state's retirement system, one of the central planks of their budget-balancing strategy.
• N.J. public pensions: Christie says 'first set of reform bills is just the beginning'
  The Governor feels the state Assembly needs to start urging more pension reforms and pass them before he presents his budget on March 16.
• Pension lawsuit file against state
  A lawsuit backed by 294 municipalities, counties and school districts has been filed against New Hampshire contesting the state's reduced contribution to the state pension fund for local police officers, firefighters and teachers.
• Failed Banks May Get Pension-Fund Backing as FDIC Seeks Cash
  The Federal Deposit Insurance Corp. is trying to encourage public retirement funds that control more than $2 trillion to buy all or part of failed lenders, taking a more direct role in propping up the banking system, said people briefed on the matter.
• Public Pension Funds Are Adding Risk to Raise Returns
  States and companies have started investing very differently when it comes to the billions of dollars they are safeguarding for workers' retirement.
• 43% have less than $10k for retirement
  The percentage of American workers with virtually no retirement savings grew for the third straight year, according to a survey released Tuesday.