News Clips for December 17th, 2013

NCPERS News

NCPERS Video Blog-- Annual Public Fund Survey & Membership Satisfaction Survey Hank Kim discusses the results of the annual Public Plan survey and the Membership Satisfaction survey.

Register today for NCPERS Legislative Conference & Healthcare Symposium
Don't miss out on the special discounted registration rates for the combined 2014 Legislative Conference & Healthcare Symposium. After January 5th all registration and hotel rates will increase.


National News

Deadbeat Government

Tis the season for taking retirement benefits away from public workers.

America's Retirement Crisis Grows as Cities Raid Pension and Health Plans

Across America, states, counties and cities are taking steps that will make retirement for ex- public employees much harsher.

Retirement crisis grows as cities raid pension and health plans
Detroit and Illinois aren't the only ones stealing earned benefits. The idea is to avoid tax hikes and service cuts.



State News

Are City Fiscal Woes Widespread? Are Pensions the Cause?
This brief explores the extent to which economic factors, poor fiscal management, and/or high pension costs contribute to the challenges cities with financial problems face.

L.A. says unions missed deadline to challenge pension rollback

An official recommends that a city board dismiss labor's challenge to cutting pensions for newly hired employees, raising the prospect of a legal fight.

Gaetz calls for new round of public- employee retirement legislation
Senate President Don Gaetz said lawmakers should make another attempt to pass legislation addressing Florida's retirement system for public employees, but take a different approach than a measure that died earlier this year.

Senator Dan Duffy: 7 Reasons Why I Voted Against the Pension Reform Bill
The media are oversimplying the reasons why some Republicans voted against the pension reform bill.

New Report says Iowa Pension Fund in Good Shape when it comes to Funding Levels, Projections
Iowa's public pension system remains in strong fiscal health, according to a report released Thursday.

In Bankrupt Detroit, the Bills are Piling Up
Case means big fees for lawyers, advisers; $238,000 for an art appraisal (Subscription Required)

Judge Allows Appeal in Detroit Bankruptcy Case
A crucial decision that keeps Detroit in bankruptcy court and puts pensions at risk can immediately be appealed to a higher court, a judge said Monday.

3 Essential (and ignored) Questions about Detroit's Bankruptcy
Why are municipal employees being blamed when data prove they had little to do with the city's fiscal problems?

Retired Public Employees ask Montana Judge to Block Pension Reductions
Retired state and local government employees are asking a Montana judge to block reductions to the annual cost- of - living raises to their pensions.

How One Mayor Pulled His City Back From the Brink of Bankruptcy
Angel Taveras had been in office barely eight weeks when his chief of staff walked in with news.


Canadian News

Responding to your request to enhance communication and engagement
OMERS sponsors and stakeholders have told us they want to see improvements in our communications to you- leaders and representatives in OMERS sponsor and stakeholders organizations. In response to that request, today we are introducing Outreach- an e-newsletter intended to keep you up to date on developments at OMERS that are of interest to you.

Shopify Announces $100 Milion Funding
Shopify, the leading ecommerce and retail platform used by over 80,000 businesses today announced the closing of a $100 million Series C investment.

Borealis Infrastructure Announces Investment in Finnish Electricity Distribution Networks
Borealis Infrastructure, the infrastructure investment arm of the Ontario Municipal Employees Retirement System ("OMERS"), together with investment partners, has signed an agreement to acquire Fortum Corporation's electricity distribution networks in Finland.



Opinions

Community Roundatable: Assessing State's Pension Deal
(Illinois) Legislators have shamed themselves

America's Pension System is Failing Those Who Need it Most
America has an increasingly dysfunctional system for providing old age pensions.