NCPERS News Clips

3/2/2010

News Clips for March 2nd, 2010

• Calpers's role in deals draws scrutiny
  Calpers took a hit last year when its investment in Manhattan's Peter Cooper Village and Stuyvesant Town apartment complex collapsed. But Stuyvesant Town wasn't the huge pension fund's only foray into real-estate investments that involved ousting low-rent tenants.
• Squeezed by ballooning pension costs, charters cut programs
  Stacey Gauthier at the Renaissance Charter School is worrying a lot these days -- about money. This year she's had to increase class sizes, cut the summer school program, and forgo hiring experienced teachers when an older teacher retires. Yet she still hasn't cut enough to be able to afford the school's rising pension costs, which have grown from $12,000 per teacher in 2004 to $21,000 per teacher this year.
• N.J. Pension Deficit Grows 35 Percent to $46 Billion
  The funding deficit in New Jersey's pension system climbed by more than a third to $46 billion last year because of investment declines and a failure to make full contributions, according to annual financial reports.
• Police, firefighters already have sacrificed
  To ask even more of Toledo police officers and firefighters who are already underpaid, understaffed, and outgunned, and who have sacrificed more than their counterparts in other Ohio cities, is unreasonable.
• IMHO: Promises Premises
  It was hard not to be struck this past week by that Pew Center on the States report titled "The Trillion Dollar Gap."
• Government workers get pension edge, study finds
  State public employees - such as public school teachers and state and city workers - on average receive hundreds of dollars more per month in retirement than higher-paid employees in the private sector, according to a new report from the Wisconsin Policy Research Institute.