NCPERS News Clips
8/11/2009
Debate Exposes Doubt
This week's first link is to a positive (*gasp*) opinion piece by Bill Cotterell, of the Tallahassee Democrat, regarding Florida's pension fund, which retains a 93 percent funded ratio. The second link is in the form of a point/counterpoint, between Scott Adams of AFSCME and Marcia Fritz of the California Foundation for Fiscal Responsibility, on the merits of DB plans versus DC plans. Perhaps we're biased, but we'll give the win to the pro-DB side, especially since the opponent started her argument by conceding that DB plans "can be the most efficient method of providing a secure risk-free retirement benefit for public-sector workers."
- Opinion: Florida's pension fund bent but didn't break
Or take, for another instance, last week's financial report from the State Board of Administration. After a wild ride on Wall Street, the fiscal year-end report showed a decline of 18.9 percent in total assets for the Florida Retirement System.
- Debate: 401(k) plans for everyone?
With a growing retiree population, can any public-employee pension fund stay solvent? AFSCME's Scott Adams and Marcia Fritz, of the California Foundation for Fiscal Responsibility, debate.
- WI: Funds managed by state Investment Board grow
After a disappointing performance in 2008, the state's retirement accounts are tilting back up. Retirement funds managed by the state Investment Board totaled $63.3 billion as of June 30, a 2 percent increase over the Dec. 31 close of $61.8 billion, according to preliminary results.
- AR: Attorney General says retirement system can recover pay from double dippers
Attorney General Dustin McDaniel said today he has advised the retirement system for state workers to investigate and try to recoup money paid to any elected officials found to be improperly collecting retirement benefits and a paycheck. McDaniel also suggested in an interview that because some members of the Arkansas Public Employees Retirement System's board are employed, yet also draw retirement benefits, they should refrain from voting on any matters involving the issue.
- More West Virginia teachers plan to retire
The number of West Virginia teachers planning to retire has jumped this year. By the end of June, about 960 teachers had announced they plan to retire, and that's about 100 more than this time last year, according to state retirement system data.
- MA: State opens investigation into retirement board
The agency overseeing the state's 106 retirement systems has launched an investigation of the Essex Regional Retirement Board, focusing on a $500,000 retirement perk for its executive director, Timothy Bassett, and on violations of the Open Meeting Law.
National Conference on Public Employee Retirement Systems.
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