NCPERS News Clips

February 5, 2013

News Clips for February 5th, 2013

U.S. News

• NCPERS Video Blog!
  NCPERS' Hank Kim discusses the recent ruling of Louisiana Gov. Bobby Jindal's plan to shift future rank-and-file state workers to a 401(k)-style retirement plan as unconstitutional
• A Pension for Security, Not Politics
  NYT OpEd: EVERY few years, politicians come up with the notion of using public pension funds to make political statements.
• Analysis: Changes in retirement starting to be felt
  Pension checks getting slimmer for many new, future California public employees.
• Sen. Harkin named Legislator of the Year
  Sen. Tom Harkin, D-Iowa, was named Legislator of the Year by the National Conference on Public Employee Retirement Systems on Monday.
• State pension plans better funded than local counterparts — study
  Despite a better record of making their annual contributions, locally administered pension plans are less funded than their state counterparts, largely due to more conservative investments, according to new research from the Center for State and Local Government Excellence.
• Americans Rip Up Retirement Plans
  Nearly Two-Thirds of Those Between 45 and 60 Plan Delays, a Steep Rise From Two Years Ago
• Global Pension Assets Hit Record High in 2012: Study
  U.S. and global pension assets finished 2012 at record highs and have roughly doubled over the past decade, and pension funds continue to diversify assets into alternative investments like property, according to a study published on Thursday by benefits consultant Towers Watson. (Subscription Required)
• Low Rates Force Companies to Pour Cash Into Pensions
  Ford Motor Co. F +1.61% expects to spend $5 billion this year shoring up its pension funds, almost as much as the auto maker spent last year building plants, buying equipment and developing new cars.
• Debate Heats Up over Public Pension Fund Discount Rates
  Record- low interest rates stir controversy over the way funds value future liabilities and expose a major difference between the U.S. and Europe.

Canadian News

• High court ruling places creditors before pensioners
  The Supreme Court of Canada has ruled that the U.S. parent of an insolvent Toronto company is entitled to the Canadian entity's last $6.75-million, instead of a group of the firm's retirees, whose pensions were cut after their employer went under.