NCPERS News Clips

May 10, 2011

News Clips for May 10th, 2011

• Atlanta Police Say "No Way" to Mayor's 401(k)
  Over 200 Atlanta police officers jammed into a Committee Room at City Hall last Thursday for a workshop held by the Finance Committee of the City Council. By the end of the four and a half hour marathon session, hundreds of other city employees had lined the corridors watching the closed circuit broadcast on television monitors throughout the building.
• CBO: Public pension plans should change reporting, contribution methods
  State, county and municipal pension plans should use fair-value accounting and change how they determine contributions, according to a Congressional Budget Office brief.
• In California, Study Says, Teachers' Pensions Fall Short of Other Public Workers'
  As states and cities debate whether benefits can or should be cut back for public workers, a new study suggests some of those workers have a lot more to fight for than others.
• AP IMPACT: CEO pay exceeds pre-recession level
  CEOs at the nation's largest companies were paid better last year than they were in 2007, when the economy was booming, the stock market set a record high and unemployment was roughly half what it is today.
• Public pensions must move to 401(k) plans
  New idea? Michigan ended defined-benefit plans (i.e., pensions) for new state workers back in 1997. Today, 49 percent of Michigan state workers are in defined-contribution plans, i.e., 401(k). Right-wing attack on government workers? The District of Columbia has used 401(k) plans since 1987.
• Maryland state workers to put more into pension plans
  A short legislative season left little time for debate over changes to Maryland's state pension system that have participants contributing 2% more to maintain their defined benefit plans, and that bring new rules for new hires.