NCPERS News Clips

1/26/2010

News Clips for January 26th, 2010

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• Liberty Township faces financial challenges
  Liberty Township fiscal officer Mark Gerber has made sweeping recommendations to rein in spending upon completing his first comprehensive review of the township's financial health.
• Baltimore County Council OKs weaker pension reform bill
  The Baltimore County Council approved Tuesday night the weaker of two pension reform bills, adopting a measure that is unlikely to satisfy critics of the current system, which greatly exceeds benefits to most working families.
• Fixing the pension system while avoiding the courts
  This week's news that the city of San Diego's annual pension payment is nearly $20 million higher than projected caught a lot of people off guard. San Diego's annual pension payment is now at $230 million, or roughly 42 percent of the city's payroll.
• Jacksonville to fire union: Take pension deal or it'll get worse
  If Jacksonville's public safety unions don't move quickly to accept a pension reform proposal that applies only to new employees, the city will take steps to cut retirement benefits for current workers, too.
• Pension fund proposal draws rage from state employee union
  The proposal calls for limiting growth of state government spending and would require all surplus revenue to go toward the annual state contribution to the pension system.
• Billion dollar headache: Looming pension liability worries state officials
  The state's current operating budget deficit is $2.6 billion, a situation that has state lawmakers scrambling to find program cuts and tax increases to balance the ledger. But Republicans in the Legislature are sounding the alarm about another billion-dollar problem looming for Washington - the unfunded liability in the state's pension system. That number now stands at about $6 billion, they say.
• Teacher pension plans cheaper that 401(k) model
  The Dayton Daily News recently published articles and an editorial questioning the sustainability of Ohio's public pension systems and health-care coverage for retirees.