NCPERS News Clips

May 14, 2013

News Clips for May 14th, 2013

U.S. News

• Illinois Pension Standoff Ahead as Senate Approves Its Own Fix
  The Illinois legislative effort to repair the nation’s worst-funded pension system moved closer to a showdown as the Senate passed a restructuring measure endorsed by public-employee unions.
• Arizona Senate approves changes to pension plan
  The Arizona Senate has reversed itself and voted to approve a plan to revamp the retirement system for new elected officials and judges. On Tuesday, the Senate defeated the bill, but during the vote, Senate President Andy Biggs predicted it would pass before the end of the session. On Wednesday, his prediction came true.
• Mandatory Savings Accounts Are Coming Your Way
  The retirement savings crisis in America has brought us to this point: It's a near certainty that mandatory savings accounts are in the future of anyone with a full- or part-time job.
• Corbett's pension bill goes to the legislature
  Gov. Corbett's plan for reining in the cost of public employee pensions has finally been assigned a bill number.
• Teacher pension reforms approved by Senate
  Younger teachers would not be able to retire with full benefits until age 62 and all school employees in the Teacher Retirement System would have to make larger monthly contributions under TRS legislation passed Wednesday by the Senate.