NCPERS News Clips

August 14, 2012

News Clips for August 14th, 2012

• Why you may retire in poverty
  Today's seniors are more affluent than the general population. But the generations that follow them - starting with the baby boom generation - will not be as fortunate. The decline of pensions, the erosion of Social Security and the housing crash all are pointing toward a new crisis of poverty among lower- and middle-class seniors in the years ahead.
• How the GASB's New Pension Standards Could Make Things Worse
  Opinion: The agency responsible for public pension accounting, the Government Accounting Standards Board, or "GASB," allows state and local governments to report far greater fiscal health by comparison and collective underfunding of only about $1 trillion.
• NM may owe $20M in back pay to state workers
  About 11,000 state workers are entitled to retroactive pay increases because former New Mexico Gov. Bill Richardson's administration didn't follow union contracts in distributing money provided by the Legislature four years ago, the state Court of Appeals has ruled.
• Unions offer own plan to fill Illinois' pension hole
  Top Illinois labor leaders Monday offered to pay a little bit more for state worker pensions, but demanded a big price in exchange.
•  The $7.8 Billion State Retirement System Rip-off
  A recently published study by Jeff Hooke and Michael Tasselmyer of the Maryland Public Policy Institute took a look at the $37.6 billion Maryland State Retirement and Pension system. Their findings weren't pretty, but they are elucidating for both individual and institutional investors.