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Recent Headlines from Across the Country
News stories from around the country. The Public Pension Industry is a fast paced industry. Keep up to date on a number of issues from health care to investment articles facing the public pension industry.
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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
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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
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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
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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
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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
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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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Can Public-Sector Job Security Be Quantified?
Public-sector compensation often comes up in budget battles when governments are making difficult cuts. Regardless of what side officials are arguing for, they'll draw on different studies that show the public sector pays more, less or is about equal to their private-sector counterparts. . . . more
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Down and Out: Measuring Long-Term Hardship in the Labor Market
From peak to trough, the United States lost almost nine million jobs in the most recent economic downturn. What was completely unprecedented about the most recent recession, however, was the explosion in long-term unemployment. The depth and length of the recession pushed the long-term unemployment rate – the share of unemployed workers who have been unemployed for 27 weeks or longer – to over 40 percent throughout the entirety of 2010 and 2011. The official concept of “long-term unemployment,” however, is incomplete and, in some cases, even potentially misleading. As tracked by government statistics, the long-term unemployed are only a relatively small part of the population facing extended, sometimes permanent, spells without work. . . . more
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Mass. pension board divests from Iran businesses
Massachusetts' pension board has divested all holdings in companies with major ties to Iran's energy industry. The move announced Tuesday fulfills a law signed by Gov. Deval Patrick in 2010 requiring Massachusetts to divest public pension money from companies doing business with Iran. . . . more
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Stock losses hit public pensions: U.S. Census
The value of investments held by U.S. public pensions fell in the third quarter for the first time in a year, battered by stock losses and a plunge in international securities, the U.S. Census said on Wednesday. . . . more
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Quinn signs public pension overhaul
Gov. Pat Quinn today signed into law a major crackdown on lucrative public pension abuses that saw top union officials land hefty retirement packages, double dip and substitute teach for one day but win benefits for life. . . . more
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Perspective Pieces