NCPERS News Clips

3/23/2010

News Clips for March 23rd, 2010

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• 40 school system jobs could be cut
  Instead of hundreds of school system personnel being "rifted," the school system may lose as many as 40 positions or as few as 25, according to officials.
• NIRS: Public Plans Outperformed Private Plans In 2009
  In 2009, state and local pension plans performed better than their private sector plans, according a study of data from the Federal Reserve.
• Public pensions underfunded by $9.4 billion
  Put another way, the state's unfunded retirement obligations add up to about $9,400 per Rhode Island resident.
• New Jersey Cuts Pension Contribution And Cuts Aid To Schools
  New Jersey Governor Chris Christie proposed a $29.3 billion budget that would suspend property-tax rebates, skip the state's $3 billion pension contribution and fire 1,300 workers next year.
• Budget ax could fall on fire stations, police units, rec centers
  Three fire companies would be permanently closed, several recreation centers shuttered and the Police Department's helicopter grounded under Mayor Stephanie C. Rawlings-Blake's proposals to close the city's $121 million budget gap.
• Assessing the Benefits of DB vs DC Plans: Retirement Plan Advisor, March 2010
  While many small businesses have, over the past couple of years, been adopting 401(k) plans, some say they would actually be better served by considering the retirement plan options that the defined benefit (DB) space has to offer, not least because of the impending increases to income taxes that are set to happen in most states at the end of this year.