NCPERS News Clips

May 17, 2011

News Clips for May 17th, 2011

• Tale of two pensions: A city manager and a high school history teacher
  When the economy flourished a dozen years ago, communities like Santa Cruz statewide enriched their retirement packages. Now they are paying for it as the nation struggles to get back on its feet after a prolonged recession.
• University System Perk Becomes Pension Liability
  A little-noticed cash benefit for some University of California employees is adding strain to the system's battered pension plan just as the university prepares for a $500 million reduction in state aid, the deepest cut in 20 years.
• R.I. Retirement Board may require higher contributions
  The state Retirement Board is poised to act on a recommendation that would require higher pension contributions from cities, towns, independent fire districts, housing authorities and other public entities that have retirement plans run by the state.
• New Labor Contracts Cut State CalPERS Rate Again
  New labor contracts that take a bigger bite out of state worker paychecks to help pay for their future pensions could help lower the annual state payment to CalPERS for a second year, dropping $169.8 million to $3.5 billion.
• Public employee pension reform off to slow start
  Senate and House members made little progress Monday in their first attempt to find common ground on reforming the public employee pension system.