NCPERS News Clips

April 2, 2013

News Clips for April 2nd, 2013

U.S. News

• Using Pension Funds to Build Infrastructure and Put Americans to Work
  America's infrastructure?its roads, bridges, water and sewer systems, energy grids, and telecommunications systems, to name a few?is outdated and is, in far too many places, crumbling due to lack of sufficient public investment.
• UPDATE 1-U.S. public pension holdings highest since 2007 peak -U.S.Census
  U.S. public pensions reached a milestone in the fourth quarter of 2012 when assets rose to the highest since a peak just before the financial crisis, according to U.S. Census data released on Thursday.
• Teachers Will Fight New Pensions for New Public Employees
  Florida teachers say they are mobilizing against a proposal in the state Legislature to close the Florida Retirement System to new employees and move them into 401(k)-type plans. The speaker of the House, meanwhile, claims the teachers' argument is untenable.
• Neb. lawmakers to recommend $20 million for Nebraska's public retirement system
  A legislative committee will recommend that the retirement fund for Nebraska state employees get $20 million from the state budget this year ? $54 million less than it had asked for.
• RTM Ratifies Fairfield Police Union Contract
  The agreement includes wage increases, maintains a pension plan for new hires, and several concessions.
• Public pension funds face scrutiny from accounting updates
  GASB rules, Moody's addition could mean headaches for execs
• NASRA: Public pension funds outperform assumed rates of return
  Since 1987, public pension funds have exceeded their assumed rates of investment return, new research shows.
• DAVID DIXON: An unexpected win: Compromise found on public pensions
  What I didn't expect is something seldom seen in recent years in Kentucky. The Republican-controlled state Senate and the Democratic-dominated House actually produced a compromise on a pressing major issue in passing a plan to shore up the state?s pension system.
• Two Major Florida Newspapers Ignore ALEC Connection In Pension Coverage
  The Miami Herald and Tampa Bay Times failed to connect the American Legislative Exchange Council model legislation to the current efforts to change the pension plans of Floridians.

Canadian News

• Supreme Court of Canada refuses leave for appeal of Carrigan pension decision
  The Ontario Court of Appeal?s decision in Carrigan v. Carrigan Estate will stand because the Supreme Court of Canada will not review the case. The case provides a dramatic shift in the way pension plan administrators must deal with the death benefits for spouses of plan members. Legal Post reported on the case back in December.
• Pension plan survival threatened by low interest rates, flagging returns
  With a growing number of Canadian pension plans facing questions about their ability to meet their obligations, many companies desperately need help.