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NCPERS Study Shows Public Pensions Are Net Contributors to Government Revenues
Headline: NCPERS Study Shows Public Pensions Are Net Contributors to Government Revenues
Publication: Business Wire
Article Date: May 16, 2018
“Public pension funds contributed a net $137.3 billion to state and local government coffers during 2016, underscoring their power to strengthen the U.S. economy, according to a new analysis by the National Conference on Public Employee Retirement Systems.” Read article…
Editorial – Time for politicians to keep their promises and invest in pensions
Headline: Time for politicians to keep their promises and invest in pensions
Publication: The Hill
Article Date: May 14, 2018
Great Op-ed on politicians “not always holding up their end of the bargain” by underfunding public pension plans. Read Op-ed…
CA Attorney General Leads Coalition to Protect the Fiduciary Rule
Headline: California Attorney General Leads Coalition to Intervene in Federal Lawsuit to Protect Retirees Against Financial Advisors Who Put Their Own Financial Gain Ahead of Their Client’s Best Interests
Publication: Sierra Sun Times
Article Date: Apr 27, 2018
“Joined by the Attorneys General of New York and Oregon, California Attorney General Xavier Becerra [on April 26] filed a motion to intervene in Chamber of Commerce of the USA, et al. v. U.S. Department of Labor, et al. in order to defend regulations that require retirement investment advisors to put the interests of their clients above their own financial gain.” Read article…
401(k) Lawsuits: What Are the Causes and Consequences?
Headline: 401(k) Lawsuits: What Are the Causes and Consequences?
Publication: Center for Retirement Research at Boston College
Article Date: May 1, 2018
Lawsuits against 401(k) plans have been on the rise in the past two years, according to a report, “401(k) Lawsuits: What Are the Causes and Consequences,” issued by the Center for Retirement Research at Boston College. In 2016 and 2017, there were 107 lawsuits filed, the highest since 2008 and 2009, when 169 lawsuits were filed. Read article…
California Pension Overhaul Bills Killed
Headline: California Pension Overhaul Bills Killed
Publication: Chief Investment Officer
Article Date: Apr 27, 2018
“A California state Senate committee has rejected a trio of pension overhaul bills that were intended to stem rising pension costs for the state. The bills that were rejected include a bill that would have barred pension funds that are less than 80% funded from providing cost-of-living adjustments; one that would have allowed local governments to leave CalPERS without paying large termination fees; and a third that would have allowed new state workers to opt for a 401(k) plan instead of a defined benefit pension.” Read article…