NCPERS News Clips

3/16/2010

News Clips for March 16, 2010

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• San Diego City Debates How To Cover Investment Losses To Pension Fund
  San Diego city is at odds with its pension board over who is responsible for covering hundreds of million of dollars in investment losses to its pension fund.
• From CalPensions: Deals raised CalSTRS pensions, cut state costs
  In exchange for boosting CalSTRS payments to retirees, the state has saved money by cutting its annual contribution to the pension fund with two different legislative deals during the last dozen years.
• Pension report costs city nearly $100,000
  The city spent nearly $100,000 on accounting costs for a report recommending ways to slash costs from the fire and police pension plan.
• Opinion: Reform pension rules but don't cut benefits to hardworking people
  A smarter approach to curbing pension excess than bashing public service employees would be to take a hard look at where these kinds of abuses are taking place and make real corrections there
• Leave teacher pension
  A hybrid pension plan as proposed by PSBA can be more expensive than defined-benefit plans like PSERS and moving to a defined-contribution system would actually increase costs to taxpayers
• Public pension funds benefit from equities-study
  U.S. state and local government pension plans received a bigger boost from rising stock markets than did private sector plans
• The $2 Trillion Hole
  Promised pensions benefits for public-sector employees represent a massive overhang that threatens the financial future of many cities and states.