NCPERS News Clips

October 29, 2013

News Clips for October 29th, 2013

National News

• NCPERS 2013 Survey: Public Pension Plans Report Increasing Confidence, Lower Costs, Growing Returns
  The 2013 NCPERS Public Retirement System Study also shows continuing financial strength for public funds, with continuing improvement in long-term investment returns.
• NCPERS Blog Post-- Public Safety Conference
  NCPERS kicks off 2013 Public Safety Conference
• Public Pension Returns Up; Allocate More To Risky Investments: Study
  The 2013 NCPERS Public Retirement System Study conducted jointly by the National Conference on Public Employee Retirement Systems and Cobalt Community Research in October 2013 reviewed public funds’ financial standing and their readiness to meet future liabilities.
• NCPERS Public Safety Conference Facebook Photos
  Check out NCPERS facebook page for photos of the Public Safety Conference!
• Wall Street’s favorite Democrat wants your pension
  The financial services industry hopes to gain even more control over workers' retirement savings
• Twenty Myths About Public- Sector Pension Plans
  These misconceptions are confusing the public discussion about pensions and facilitating the enactment of pseudo-reforms that are politically attractive but financially inadequate.
• These pension funds made a killing with private equity
  Private equity has been a winning bet for large public pensions, according to a new study.
• Fannie Mae, Freddie Mac eliminating pension plans starting Dec. 31
  Federally backed mortgage giants Fannie Mae and Freddie Mac are dropping their pension plan for employees at the end of the year at the urging of their federal oversight agency, according to a memo the companies sent to their staffs Friday morning.

State News

• Detroit Banker Buckfire Calls Equal Cuts to Bonds, Pensions Fair
  Detroit’s proposal to cut payments to bondholders and pensioners by the same amount is fair and differs from previous attempts by distressed cities to restructure, investment banker Kenneth Buckfire told the judge overseeing the city’s record-breaking bankruptcy.
• Okla. House member working to overhaul state pension systems to host legislative hearing
  A House member who is working to overhaul the state's pension systems is holding another legislative hearing this week to further discusse proposed changes to the retirement plans for various public workers.
• What's at stake for pension reform? Here's a "Pension 101" guide to the issues
  (Florida) A common refrain for pension reform is that if it were easy, someone already would have done it.

Opinion

• Why Detroit declined
  (video) As the trial that will determine whether Detroit can declare bankruptcy gets underway, Kil Huh of Pew Charitable Trusts explains to Nia-Malika Henderson what went wrong in the Motor City.
• Jim Dey: Nervous legislators would prefer to skip pension issue
  (Illinois) Politics and government policy go hand in hand, and when the policy is bad, the politics often are worse.
• The Washington Supreme Court hears the state pension cases
  In last Thursday’s paper, The Times advised the Washington Supreme Court to rule against public employee unions on two pension cases that together involve about $10 billion over 25 years. Here, from TVW, are the oral arguments by attorneys for both sides as they respond to the questions from the justices. The cases are filed under Washington Education Association v. Washington Department of Retirement Systems.
• Letter: Public pension problem overstated
  Why is the E-R editorial staff so biased toward public pensions? Poor discretionary spending by some cities does not "threaten the very stability and safety of our streets and schools and courts and community centers" as the E-R editorial board has opined. The issue of pension reform is more complex and nuanced.