NCPERS News Clips

December 15, 2010

News Clips for December 15th, 2010

·         Battle lines form over public plan disclosure
Business and taxpayer groups and representatives of local governments and unions are squaring off over what is expected be a major legislative brawl next year concerning a bill that could force public pension plans to disclose their finances to the U.S. Department of Treasury.

·         Pension law leaves taxpayers with $5B annual cost
Newly enacted structural changes to Pennsylvania's pension plans for state government workers and public school employees will still leave taxpayers on the hook for billions of dollars in average annual payments over the next decade, according to an Associated Press analysis.

·         Pension reform bill leaves challenges for school districts
Area school leaders say they still face major budget challenges, even though the General Assembly and Gov. Rendell approved recent changes to Pennsylvania's pension plans for school district employees and government workers.

·         Public employees may have to pay full pension costs
Virginia legislators are preparing to take a fresh look at whether to require state and local government employees to pay their full share of pension costs

·         San Diego's Tough-Love Pension Proposal
Mayor Jerry Sanders wants new employees to use 401(k)-like pension plans

·         PERS study picks apart suggested Ore. pension cuts
A new study suggests that cuts to state worker pension plans recommended by outgoing Gov. Ted Kulongoski's Reset Cabinet could sharply reduce pay and benefits, even though it might save more than half a billion dollars.

·         State is responsible for its pension mess
Marylanders should know that the state has already reaped billions during the past decade from its failure to meet its funding obligations to active and retired employees and state teachers.