NCPERS News Clips

April 16, 2013

News Clips for April 16th, 2013

U.S. News

• Frontline to Critique 401k Plans
  (video) Public Television's well respected and Pulitzer Prize winning show “Frontline” is the latest media outlet to critique and raise questions about 401k plans and how Wall Street deals with them.
• Andy Kessler: The Pension Rate-of-Return Fantasy
  Opinion: Counting on 7.5% when Treasury bonds are paying 1.74%? That's going to cost taxpayers billions.
• Dan Loeb Simultaneously Solicits, Betrays Pension Funds
  There's confidence. There's chutzpah. And then there's Dan Loeb, hedge fund king extraordinaire and head of Third Point Capital, who's getting set to claim the World Heavyweight Championship of Balls.
• More Change for Pension System?
  Two years ago, North Carolina lawmakers approved changes to the state employee pension and retirement system by moving the vesting period from five to 10 years of service.
• Maryland governor gets bill changing pension funding formula
  The Maryland General Assembly passed a bill that will require the state to pay the actuarially required contribution to the $40.2 billion Maryland State Retirement & Pension System, Annapolis.
• Retirement bills before the Louisiana Legislature
  State employee and teacher retirement systems are opposing bills filed in the current legislative session that would require their members to pay more and others that would reduce benefits.
• Gov. Christie announces pension reforms bring $15.29 million in property tax relief for Somerset County taxpayers
  Nearly two years after historic, bipartisan pension reforms were signed into law by Governor Christie, local governments continue to witness the substantial savings on their pension costs compared to just two years ago when an unreformed system caused a precipitous increase in the cost of public employee pension and health benefit costs to New Jersey property taxpayers.
• In Rhode Island, A Battle for the Democratic Party's Future
  A budget-balancing Democrat could be the state's first female governor. But unions prefer the Hispanic mayor of Providence.
• The Man Who Wants to Protect (and Eliminate) Teachers' Pensions
  This week Dan Loeb (right), the head of a firm called Third Point Capital, will be soliciting some new business. Third Point, an $11.6 billion New York-based hedge fund, appears eager to grab new some clients, particularly teachers unions. This would be a very, very risky decision for teachers.