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 Spin City
The December jobs report was recently released and politicians are falling all over themselves to spin positive or negative interpretations. As an investor or entrepreneur, it pays to look at these numbers in an objective way, as much as possible. As Mark Twain once said, “Get your facts first, and then you can distort them as much as you please.” So here goes. The private economy created 212,000 net new jobs in December and the unemployment rate dropped to 8.5%. Most industry sectors added jobs, even construction added 17,000 jobs. The government lost 12,000 jobs, but that is good news as it indicates that government is paring back to better control their budgets. These facts are good news for the economy and most important, the trend of these numbers is positive. However, the labor force over the last thirty months has shrunk by 840,000. The labor force participation rate (a measure of how many are employed or looking) is at 64% down from 66% in 2007 when jobs were plentiful. This indicates we are in the midst of a slow economic recovery. Overall, the numbers are positive and the January numbers will be insightful as the holiday season is over and January is normally a month when businesses cut back. . . . more
U.S. Senator Orrin Hatch(R-UT)- State and Local Government Defined Benefit Pension Plans:
The Pension Debt Crisis that Threatens America
The pension funding crisis facing state and local governments has been widely reported. Vested pension benefits are a fixed financial obligation of governments, and to the extent the assets that have been set aside to pay for the benefits are inadequate, the pensions represent an unfunded financial obligation. Unfunded obligations are implicit government debt, although not as transparent as explicit debt such as municipal bonds. It has been estimated recently that aggregate underfunding of state and local defined benefit pension plans may exceed $4 trillion. . . . more
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 The Year in Review: Debt crises held stocks in check in 2011
A tumultuous year for stocks. As 2011 winds up, many investors are more concerned with return of capital than return on capital. That is understandable; Wall Street faced some powerful headwinds this year. With little policy momentum to foster or aid any available economic momentum, U.S. and global indices were poised to finish the year with flat to poor annual returns. . . . more
For Better...Or Worse
It’s nice for a change to be able to talk about an American economy that is, for the moment, getting stronger. After growing at a truly pathetic real (inflation adjusted) annual rate of less than 0.9% during 2011’s first six months, the economy grew at a revised 2.0% real annual rate during the third quarter. . . . more
 The 3 Rs of Teacher Pension Plans: Recruitment, Retention, & Retirement
A new study analyzing the effectiveness of defined benefit (DB) pensions on teacher retention and productivity finds that pensions play a critical role in recruiting and retaining productive teachers. . . . more
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Public Pensions Online's industry leading archive holds thousands of articles, reports and studies. Use our convenient Search feature or browse by department.
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State pension system underperforms others
South Carolina's state pension fund is being outperformed by many other public pensions in the nation while paying $344 million in fees and investing far more of its money in hedge funds, according to figures supplied to GreenvilleOnline.com. . . . more
Illinois governor urges pension, Medicaid changes
Illinois Governor Pat Quinn on Wednesday said the state must make changes to its pension system and to Medicaid this year, while also insisting that spending cuts alone will not fix the state's budget. . . . more
CalPERS Highlights Hybrid Pension Plans
Hybrid pension plans maintained by state retirement systems are a proven to deliver pension income security, retain essential staff, and provide important economic stability to every city, town, and state across the country, CalPERS says. . . . more
Md. governor discusses shift of pension costs
Gov. Martin O'Malley discussed plans Tuesday with legislative leaders to shift teacher pension costs to Maryland counties and reduce tax exemptions for high-end earners, participants in the meeting said. . . . more
Teachers' 403(b) Plans See Big Changes
For years, teachers in Albany, Ga., invested in tax-advantaged savings programs known as 403(b)s just as many educators elsewhere do: Instead of getting a menu of stock funds or other investment choices from their employer, like those offered in corporate 401(k) plans, the teachers listened to pitches from insurance agents pushing their various companies' programs. . . . more
Hard Times Waning as Recovery May Bring Bonuses to South Dakota
When South Dakota (STOSD1) Governor Dennis Daugaard proposed his $4 billion budget last month, the Republican included something unthinkable in most capitols in recent years: across-the-board bonuses for state workers. . . . more
Colorado employees nervously await employment changes
Some 30,000 Colorado employees like Bodin are waiting to see how Democratic Gov. John Hickenlooper wants to change rules for employees, called the state personnel system. Hickenlooper has talked about making Colorado more competitive and flexible in how it handles human relations. . . . more
FINAL REPORT KPERS STUDY COMMISSION DOCUMENT
The Kansas Public Employees Retirement System (KPERS) Study Commission reviewed the current public retirement plans administered for the benefit of state, school and local government employees. Following public testimony and a series of presentations by both in-state and out-of-state conferees on potential changes in the present retirement plans and about new retirement plan designs, the Commission adopted recommendations for legislation to be introduced in the 2012 Session and for a number of other recommendations to be reviewed by the 2012 Legislature . . . more
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