News Clips for December 20th, 2013

NCPERS News

NCPERS Written Statement for the Hearing Record regarding the role of Social Security, Defined Benefits and Private Retirement Accounts in the Face of the Retirement Crisis
NCPERS submitted a written statement to the United States Senate Committee on Finance and the subcommittee on Social Security, Pensions and Family Policy for hearing record regarding the rold of social security, defined benefits and private retirement accounts in the face of the current retirement crisis.

How Detroit can learn from Cincinnati
Hank Kim's first guest blog post on Benefitspro.com explores how the city of Detroit can learn from the city of Cincinnati's recent vote against major changes to the city's public retirement system.

NCPERS Blog: Why Visit the Hill During the Legislative Conference?
Visiting your congressional leaders is an important part of participating in the NCPERS Legislative Conference and can be one of the most rewarding experiences you'll have.

Important 2014 Update Regarding the Annual Conference & Exhibition
The 2014 Annual Conference & Exhibition will no longer be held at the Grand Hyatt in San Antonio, Texas. The new location will be announced in early January 2014.


National News

Business Column: Could pension reform rile investment funds?
If implemented, privatization may have significant side effects

Pension Woes Have Cities, State Eyeing 401 (k) Style Plans
In June 2012, San Diego voters by a margin of 2-to-1 approved a ballot measure that eliminated guaranteed pensions for most future city employees and replaced them with individual retirement accounts -- 401 (k)s-- similar to those used in the private sector.


State News

KC firefighters ratify agreement, allowing pension reforms to advance
The Kansas City firefighters unions this week ratified a new pension agreement with the city, becoming the last of the four major employee groups to do so.

Detroit emergency manager, mayor- elect reach power- sharing agreement: report
Detroit Mayor- elect Mike Duggan will control about two- thirds of city operations once he takes office next month, the Detroit News reported Wednesday.

Moody's lowers N.J. debt outlook to negative, citing slow recovery
Wall Street analysts at Moody's Investors Service today lowered their outlook on New Jersey's debt from stable to negative, saying the state remains hamstrung by rising costs and "a sluggish economic recovery" despite Gov. Chris Christie's efforts.

NM Supreme Court upholds law aimed at fixing public pension shortfall
It may have generated more attention by handing down a ruling paving the way for New Mexico to become the 15th state to allow same- sex marriage, but the state Supreme Court issued another major decision Thursday.

Changes to pension fund to cost first responders $570 million
The Police & Fire Pension Fund board finally agreed yesterday on a billion- dollar plan that will cost Ohio police officers and firefighters more than $570 million in higher costs and lower benefits.

Looming pension reform blamed for fire & police exodus
(TN) Chattanooga Police Chief Bobby Dodd announced his retirement Monday. He's the latest in a long string of recent retirements among the city's police force and fire department.


Opinions

Letters: Pension reform lawsuit necessary
It's true that education is the key to our future, but those who served the needs of our students in the past are also part of our future.

Poll: Chuck Reed pension- cutting measure not popular
We just got a peek at a poll that might make San Jose Mayor Chuck reed choke on his cheerios this morning: It says there isn't a lot of love for Reed's proposed statewide ballot measure to allow local California agencies to reduce existing public employees pension and retirees' health benefits.