NCPERS News Clips

November 27, 2012

News Clips for November 27th, 2012

U.S. News

• NCPERS Video Blog!
  Hank Kim discusses the Pew Center and their inflammatory reports on DB plans
• The third way – creating a plan for those without workplace pensions
  Many critics of traditional defined benefit pension plans for the public sector, such as Ontario's Progressive Conservatives, try to make the argument that taxpayers should not have to support pension plans that they don’t benefit from.
• California's pioneering pension law
  The private sector has an inadequate retirement system. It is too small and too risky. With the decline of defined benefit pensions, most private sector workers will end up with Social Security and the balances in their 401(k) plans.
• Study: Teacher 401(k) plan costs more
  (Michigan) State can't afford to close hybrid pension plan, senator says
• Carly Fiorina says public employee pensions are 'so rich'
  Average public employee pension, you ask? Seven out of ten get less than $30,000 a year.
• Pension reform awaits when session begins
  Illinois lawmakers return to the Capitol on Tuesday, hoping to achieve what they failed to get done the last time they were in town.
• TASK FORCE: FULLY FUND STATE WORKER PENSIONS
  (Kentucky) A legislative task force has recommended the state fully fund pension contributions and move new public hires, judges and legislators into a cash-balance retirement plan not as generous as the current one.
• Corbett stresses state pension crisis in 2013 agenda
  (Pennsylvania) In a speech light on details Monday, Gov. Corbett presented a broad outline of his agenda for 2013, saying his chief priorities are addressing the pension crisis, privatizing state liquor stores, and combating the high cost of college.
• Under fire from labor, Riordan abandons pension overhaul plan
  (California) The former mayor says a self-imposed deadline, not union opposition, made him drop a proposed shift to a 401(k)-type retirement system.

Canadian News

• Tories want Ontario public sector pensions changed to defined contribution
  Ontario's Progressive Conservatives said Monday that taxpayers can no longer afford "gold-plated pension plans" for public sector workers, but the Liberal government called the Opposition's proposals an American-style attack on the middle class
•  Canada Pension Plan looks for big, global deals
  The Canada Pension Plan Investment Board, one of the world's biggest pension funds and global dealmakers, said it was looking for big, complex acquisitions to boost its portfolio and outmaneuver rivals as the world's economy improves.