NCPERS News Clips

October 5, 2010

News Clips for October 5th, 2010

• Rate assumptions go under the microscope
  More public funds surrender to the probability of lower returns and adjust their expectations
• Board at Center of Pension Dispute
  One is mayor of Highland Park, Ill. Another is assistant municipal manager of Mount Lebanon, Pa., a Pittsburgh suburb. Another runs Tennessee's state-government accounting system. (subscription required)
• Despite vetoes, pension limits are still possible
  (California) A budget plan must address pension reform or the governor won't sign it, an aide says.
• State panel puts brakes on shift in pension plan
  A state budget panel has asked for more time to review a controversial proposal to create a state-run company to devote more pension money to more profitable but higher-risk investments
• New Jersey Sells $669M In Muni Debt At Attractive Yields
  New Jersey sold $669 million in general obligation bonds Thursday, a week after Moody's Investors Service dropped its ratings outlook to negative, citing its pension underfunding and budget woes. (subscription required)
• How to Clean Up the Muni Bond Market
  Arthur Levitt and Lynn E. Turner's solutions to defaulting bonds, unfunded liabilities, and fraudulent investment information
• Illinois Leads Underfunded U.S. Pensions
  To rank the municipal pension funding levels for the 50 U.S. states, Puerto Rico and Washington, D.C., the Bloomberg Municipal Data Team and the Municipal Fundamentals Team collected and supplemented data from The Comprehensive Annual Financial Reports, a set of government financial statements.