NCPERS News Clips
12/8/2009
Nearing the End of 2009
Below are stories from around the country about public pensions. The final News Clips of 2009 will go out on December 22nd. Finally, we encourage you to sign up for NCPERS Legislative Conference in February 2010!
- N.Y Raises Pension Requirements to Save $48 Billion
New York state's pension program will raise the retirement age and financial contributions for new workers to save the state and local governments about $48 billion over 30 years.
- Pension funds rethink strategies
The two largest public pension systems in Arizona have seen their funding status drop. Both have changed their investment strategies and will require more money from employees, employers or both.
- Cash infusion sought for IPERS
Iowa's largest public employees' pension fund has rebounded sharply with the stock market's upturn, but officials still want to increase contributions from taxpayers and government employees to shore up the fund's finances.
- Governor to give CalPERS more funds than it asked for
Governor Arnold Schwarzenegger is choosing to absorb a major increase in the state's contribution to CalPERS next year despite a looming budget deficit.
- States act to curb 'double dipping'
States pummeled by the recession and heavy job losses are moving to bar government employees from "double dipping" -- the practice of collecting a pension and a paycheck at the same time.
- L.A. venture capitalist pleads guilty
Los Angeles venture capitalist and philanthropist Elliott Broidy pleaded guilty Thursday to charges that he paid $1 million in gifts to New York public pension officials to win $250 million in investment capital for his private equity fund.
