News Now
The Dangerous Consequence Of Cutting Public Safety Pensions
Headline: The Dangerous Consequence Of Cutting Public Safety Pensions
Publication: Forbes
Article Date: Oct 30, 2018
The recruitment and retention effects of pensions are key reasons why the public sector has maintained defined benefit retirement plans, especially for public safety officers. The author tells the story of the individuals closely involved in one of the most disruptive public pension reform efforts in the country. Read article…
Opinion: Forget naysayers: Public pension funds doing fine
Headline: Forget naysayers: Public pension funds doing fine
Publication: Capitol Weekly
Article Date: Oct 16, 2018
“The state’s two largest pension funds reported end-of-year investment returns that again exceeded their assumed average annual rate of return. The California Public Employees Retirement System (CalPERS) reported a net return of 8.6 percent. The California State Teachers Retirement System (CalSTRS) did even better, earning a 9 percent return on its investments
That’s good news, but the better news is both funds’ rate of return over a significant span of time. Over 30 years CalPERS has averaged an 8.1 percent annual rate of return. Over 25 years, CalSTRS has averaged 7.7 percent.” Read article…
City of San Diego spending $100K for estimate of how costly pension ruling could be
Headline: San Diego spending $100K for estimate of how costly pension ruling could be
Publication: San Diego Union Tribune
Article Date: Oct 3, 2018
The City of San Diego is paying a consultant $100,000 to analyze the potential costs of a state Supreme Court ruling in August that the city’s six-year-old pension cutbacks were not legally placed on the ballot. Read article…
More 55-plus workers delaying retirement, but how hard is it to get a job?
Headline: More 55-plus workers delaying retirement, but how hard is it to get a job?
Publication: San Diego Union Tribune
Article Date: Sep 2, 2018
“As a steadily growing share of baby boomers are opting to work well into their retirement years compared to past generations, the challenges of remaining employed or re-entering the workforce at an older age, even in today’s tight labor market, haven’t necessarily eased.” Read article…
New Report Finds Nation’s Retirement Crisis Persists Despite Economic Recovery
Headline: New Report Finds Nation’s Retirement Crisis Persists Despite Economic Recovery
Publication: National Institute on Retirement Security
Article Date: Sep 17, 2018
A new research report finds that the retirement savings levels of working age Americans remain deeply inadequate despite economic recovery. An analysis of U.S. Census Bureau data reveals that the median retirement account balance among all working individuals is $0.00. Read article…