NCPERS News Clips

March 12, 2013

News Clips for March 12th, 2013

U.S. News

• MONDAY LUNCH & LECTURE SNEAK PEEK
  Public pension funds continue to find themselves under unprecedented scrutiny -- and attack. Traditional notions of member rights to retirement benefits earned are being threatened in the court house as well as the state house. NCPERS Legal Advisor, Robert Klausner, will examine cutting edge battles in court houses throughout America, looking at which strategies have worked and which have failed as we explore solutions to the issues they represent.
• Illinois Is Accused of Fraud by S.E.C.
  For the second time in history, federal regulators have accused an American state of securities fraud, finding that Illinois misled investors about the condition of its public pension system from 2005 to 2009.
• Kentucky House and Senate closer to deal on pension reform
  House and Senate leaders said Monday that weekend talks with Gov. Steve Beshear have drawn the two chambers closer to a compromise on pension reform but they did not provide any details on a possible deal.
• Pension Adjustments Would Bring Mixed Impact To Oregon Retirees
  Republicans and Democrats at Oregon's capitol want to balance the state budget by taking aim at the pension system for public workers. Both parties as well as Governor John Kitzhaber say changes to the retirement system would help prevent more cuts to schools. But retirees claim the proposals would break a promise.
• Public-employee unions push back with lawsuits over pension cuts
  (California) Gov. Brown, normally seen as a labor ally, is forced to defend the reforms he backed.
• Weatherford's pension bill passes committee, but questions remain
  (Florida) A bill that would prevent new employees from enrolling in the plan passed the House Appropriations Committee on Friday, providing a boost to one of the top priorities for Speaker Will Weatherford but defying the warnings of union groups and and the former director of the Florida Division of Retirement, Sarabeth Snuggs.
• Retirement Security Index Shows U.S. Lagging Behind
  The United States ranks 19th worldwide in the retirement security of its citizens, according to an annual index compiled by Natixis Global Asset Management (NGAM).
• 4 Myths About Public Pension Retirees
  (Opinion) Think public retirees have it made? Not necessarily.
• Steering America toward a more secure retirement
  (Opinion) To the let's-cut-entitlements crowd, what's wrong with America is that seniors are living too high off the hog.