NCPERS News Clips

August 27, 2013

News Clips for August 27th, 2013

National News

• American Retirement Savings Could Be Much Better
  The personal retirement-savings plans that most Americans use, such as 401(k)s and Individual Retirement Accounts, or IRAs, are unnecessarily costly and needlessly risky. But instituting another kind of retirement plan that combines the best elements of both defined-contribution and defined-benefit plans—such as the Center for American Progress’s proposed Secure, Accessible, Flexible, and Efficient, or SAFE, Retirement Plan, or the related USA Retirement Funds proposal from Sen. Tom Harkin (D-IA)—could provide a more secure retirement at a far lower cost, according to a new analysis by the Center for American Progress.
• Moody's: Outlook for U.S. states improves after five years
  Moody's Investors Service on Tuesday revised its outlook for U.S. states to stable from negative, marking a significant improvement in its assessment of state finances after cutting its outlook for the sector more than five years ago.
• Rising returns give US public pension funds chance to reform
  Many U.S. public pension funds are benefiting from double-digit annual returns in fiscal 2013 that are giving them breathing space to try to implement reforms and fix gaping deficits.

State News

• 9 Detroit retirees chosen to protect pension, benefits rights in bankruptcy court
  Nine people with Detroit experience have been named to the new Retirees Committee designed to act as a single voice on behalf of the City of Detroit’s approximately 23,500 retirees to protect their rights during bankruptcy restructuring.
• Quinn says pension panel's framework is 'positive'
  Gov. Pat Quinn says the outline of a pension reform proposal from a bipartisan panel is "positive indeed."
• Florida keeps state retirement fund strong and viable
  Last week, the Florida State Board of Administration released an encouraging financial update on Florida’s retirement plan for Florida deputies, law enforcement and correctional professionals, as well as other state workers.

Opinion

• A better way to save for retirement?
  Declaring the nation’s private-sector retirement system “broken,” the Center for American Progress is adding its voice to the growing call for a new kind of investment vehicle to shore up retirement security for workers.