Newsmakers
Austin Takes Steps to Save Local Pensions
The city’s Audit and Finance Committee enables new legislative allowances to save its police and employees’ retirement systems.
Tag: retirement system
Research
Pandemic Provides Lessons to Improve Retirement System
Research paper says pandemic ‘is likely to hasten the demise’ of defined benefit plans.
Asset Management Culture
Exclusive: Kentucky Retirement’s Executive Director Says Proposed Board Split Will Increase Taxpayer Burden
David Eager shares his thoughts on proposed legislation that would split the current board into three entities.
Asset Management Culture
Kentucky County Employees’ Retirement System Proposes to Split Board’s Administration
Citing under-representation in the current KRS board, the system puts forth legislation to establish its own panel.
Regulation
Rhode Island Pension Alleges Zuckerberg Overpaid 2019 Settlement to Avoid Personal Consequences
State Treasury says Facebook overpaid Cambridge Analytica settlement by $2 billion to win extra concessions from the feds.
Regulation
NJ Pension Fund Trustee Sentenced for Embezzling over $360K
Founder and trustee of a vending machine company’s pension sentenced to two and a half years in federal prison.
Pensions
Chilean President Pitches Reform in Wake of Deadly Pension Protests
Under a new proposal, 6% in new contributions would be made by the country’s employers to sustain retired citizens above the poverty line.
Risk
Ohio’s State Pension Slashes Healthcare Benefits amid Insolvency Concerns Threat
The board at OPERS voted to reduce medical benefits to avoid collapse by 2030.
Pensions
Tax Cuts Could Come Back to Haunt State Retirement Systems
Report urges states to close tax loopholes to avoid cutting pension benefits.
Regulation
Arizona’s State Pension Contends With ‘Very Troubling’ Accounting Errors
Audit reveals a lack of internal controls may have misappropriated funds within the retirement system.
Asset Management Culture
Arizona State Pension Is Headed for ‘Complete Desperation,’ Research Group Warns
Pension’s unfunded liabilities making it difficult to hire, retain teachers.
Risk
Can Marijuana Help Solve Kentucky’s Pension Woes?
Lawmakers assert legalization is a ‘win-win situation for everyone involved,’ and advocate for a quick approval.
Risk
Kentucky Makes Changes to Free Pension from Funding ‘Death Spiral’
Proposed liability-based model would protect employers from contribution rate increases.
Newsmakers
France’s Chief Pension Reform Official Resigns Amid Protests
High Commissioner for Pensions Jean-Paul Delevoye resigns after failing to publicly disclose other positions he held, which potentially lead to conflicts of interest.
Kentucky Retirement System’s Unfunded Liabilities Continue to Soar
Longer life expectancies and lower than expected employee turnover figures contribute to the state’s pension woes.