NCPERS News Clips

October 11, 2011

News Clips for October 11th, 2011

• Illinois employees' union pleased with arbitrator decision
  Illinois' largest public employee union says there's enough money to keep open the facilities the governor wants to close.
• Official: Pension Plan Changes on Hold Pending Union Agreements
  Changes to the pension plans for new Riverside County employees will result in sizable savings once they're fully implemented, which is proving to be a challenge because of union resistance, a county official told the Board of Supervisors today.
• Gov. Scott may have eye on state pension money saved by local governments
  The millions of dollars local governments saved through retirement system reform may not be safe from Gov. Rick Scott, who recently has expressed frustration that the pension plan is less than 100 percent funded.
• Pensions Wrestle With Return Rates
  Turmoil in Europe, the sluggish economy and low interest rates are intensifying pressure on public pension-fund systems to reduce the annual-performance assumptions they use to determine contributions from taxpayers and employees.
• CalSTRS CEO Ehnes wants contribution boost
  CalSTRS CEO Jack Ehnes is hoping that California Gov. Jerry Brown will include in his pension reform proposal an increase in the contributions paid by school districts, teachers and the state to eliminate the system's $56 billion unfunded liability and the threat of the system going broke by 2045, confirmed CalSTRS spokesman Ricardo Duran.
•  Pension plans are an efficient way to save for retirement
  A good pension plan is the most efficient way to save for retirement, it has been claimed. According to the Pensions Advisory Service, Brits can benefit from generous tax-relief if they invest in a savings fund for their twilight years.