NCPERS News Clips

June 18, 2013

News Clips for June 18th, 2013

U.S. News

• Loeb Opposes Teachers Union on Pensions as Asness Quits
  Daniel Loeb, founder of Third Point LLC, is escalating a battle between hedge-fund managers and American Federation of Teachers President Randi Weingarten over public-worker pensions.
• New Orleans firefighter pension changes become law
  Legislation aimed at steering the troubled New Orleans Firefighters Pension and Relief Fund toward more stable financial footing was signed by Gov. Bobby Jindal on Thursday.
• 10 REASONS GOVERNOR CORBETT'S PENSION PLAN WILL DIG A DEEPER HOLE FOR TAXPAYERS
  (Pennsylvania) The Keystone Research Center recently put together the following top 10 reasons the Governor's public pension plan will dig a deeper hole for the state's taxpayers. I thought I'd pass it along here.
• States cannot pretend to be in good financial health unless they tackle pensions
  JERRY BROWN, the veteran governor of California, is basking in glory. The golden state, once described as America’s Greece because of its fiscal woes, is reporting a $1.2 billion budget surplus (see article). But the euphoria is premature. California still has a mammoth long-term pension gap. If it used the same pension accounting standards as private companies must, its total debts would be a terrifying $1 trillion.
• New Report Examines Key Issues for Public Sector Retirement Reform
  Evolving workforce demographics and long-term budget pressures present challenges for public sector pension reformTIAA-CREF Institute and Rockefeller Institute of Government convene state and local officials, union leaders, and public policy analysts
• State pension reforms to result in more hybrid pension plans — report
  More states will create hybrid plans in the future because of the less-volatile contribution levels and the fact that the defined contribution components are portable for a workforce that is now increasingly more mobile, according to a new report from the TIAA-CREF Institute and the Rockefeller Institute of Government.
• Illinois Pension Bill Breakdown
  (video) Illinois lawmakers head back to Springfield on Wednesday for a special pension legislative session. There are two competing bills in the state's capitol.
• Hedge Fund Managers Seek to Mine DC Market
  Advisors may soon see lower fees for liquid alternative asset funds – hedge fund mutual funds – thanks to the push by hedge fund managers to market these plans more aggressively into the defined contribution space, according to panelists at last week's 25th annual Morningstar Investment Conference.

Canadian News

• IJ Interview: Rick Miller, OMERS
  Interview with NCPERS Executive Board Member, Rick Miller from Ontario Municipal Employees Retirement System