NCPERS News Clips

5/25/2010

News Clips for May 25th, 2010

• Minneapolis pension fund given a path to avoid default
  Minneapolis and some smaller public jurisdictions are finally shedding an aging pension fund that was headed for default, but the employers retain liability for it.
• Will State Pension Funds Need a $1 Trillion Bailout?
  The federal government could face another economic disaster and massive bailouts within a decade if it doesn't force state pension funds to revamp their operations soon, an economist says.
• Padded Pensions Add to New York Fiscal Woes
  In Yonkers, more than 100 retired police officers and firefighters are collecting pensions greater than their pay when they were working.
• Teachers union president opposes change in retirement plan type
  The largest state teachers union is willing to do what it can to help repair the pending state retirement system calamity, but it won't support major changes to the system.
• Public pensions not root of financial crisis
  He claimed that public employees earn more than private-sector workers, but a recent joint study by the Center for State and Local Government Excellence and the National Institute on Retirement Security show public employees still earn 11 to 12 percent less than private-sector workers.
• CalPERS retreats on request for more taxpayer funds
  The state pension board wants to study the effects of a hike on the state budget.
• New Proposals for Pension Books
  GASB's potential accounting rules may clobber employers' budgets