NCPERS News Clips

March 15, 2011

News Clips for March 15th, 2011

• Saving for Retirement
  CNBC's Hampton Pearson has the highlights on what some of the nation's top retirement experts have to say about investing for your future.
• Minneapolis pension cuts questioned
  Appeals court judges question how Minneapolis saved millions of dollars on police, fire payouts.
• DB plans in cross hairs in state budget battles
  An unprecedented push by state governors and legislators in 24 states to change the rules governing pensions for public employees could significantly remake many of the nation's public retirement systems.
• Wisconsin pension plan among most secure
  The protests in Wisconsin over public workers' pay, benefits and collective bargaining rights have underscored a dilemma facing many states: the cost of public pensions and how cash-strapped governments should pay for them. But the turmoil overshadows a salient point: Wisconsin may have a budget deficit, but its pension system does not.
• Study Examines Public-Sector Pay
  The average full-time government worker in New York City earns 17% less than the average private, for-profit employee, a study released Wednesday by the city comptroller's office revealed. (subscription required)
• LETTERS: Teachers have paid their dues
  A few thoughts in response to a recent letter regarding pensions in New Jersey.
• Calif. pension fund says reforms would cost more
  The pension fund representing California teachers on Wednesday criticized a watchdog panel's proposals to overhaul state employee retirement plans and said the changes would drive costs higher and were legally risky.
• The Burden of Pensions on States
  For public workers in Wisconsin, there's more bad news. Having lost the battle on collective bargaining, they may soon be asked to make more financial sacrifices.
• Pension Problems Not Workers’ Fault
  Supporters of Gov. Paul LePage, including the Maine Heritage Policy Center, have done a good job of spinning a tale that lays blame for the state pension system's financial problems at the feet of state workers. "Lavish" benefits, high state wages and "greedy" unions are to blame, they argue.
• Why employee pensions aren't bankrupting states
  From state legislatures to Congress to tea party rallies, a vocal backlash is rising against what are perceived as too-generous retirement benefits for state and local government workers. However, that widespread perception doesn't match reality.
•  Michigan Set To Enact Sweeping 'Financial Martial Law' Bill
  As it turns out, I was terrifically wrong, and Snyder's just lost me completely with his apparent desire to enact a law that would impose "financial martial law" upon struggling communities in the form of "financial managers" that would have the power to abrogate contracts at will and supersede the democratic process.