NCPERS News Clips

February 28, 2012

News Clips for February 28th, 2012

U.S. News

• N.Y. pensions are worth defending
  Offering workers a 401(k)-style plan would put them at risk
• San Jose softens pension proposal
  San Jose officials Tuesday called for softening a proposed June ballot measure to trim city worker pensions while acknowledging they failed to reach a deal with employee unions to slow growing retirement costs, ensuring a tough election fight that could draw national interest.
• Feds fret over underfunded corporate pensions
  Federal officials have assumed responsibility for hundreds of troubled pension plans in recent years. Those takeovers could accelerate as baby boomers start to retire, with taxpayers potentially needing to pay tens of billions of dollars to keep the private plans alive.
• GOP weighs cost of union battle
  With fresh memories of rancor in Wisconsin and other states, Republicans move slowly on right to work.
• Democrats want to extend guaranteed retirement savings to private sector
  New legislation unveiled this morning aims to build a sort of CalPERS-for-all retirement savings system that the measure's author says could cover an estimated 7 million working Californians in the private sector.
• Dems seek state-run pensions for private workers
  Two leading California Democrats introduced legislation Thursday that attempts to provide retirement savings for private-sector workers of modest means, creating a government-run program for private-sector workers whose employers do not offer pensions or 401(k) plans.
• Senate panel approves budget plan but with warning to Democrats
  The Senate Finance Committee has approved another version of its budget, but this time with a warning to the Democrats who killed the original Senate budget bill on the floor last week.
• The last 401(k) generation?
  Will the baby boomers be the only generation to retire with 401(k) plans? It could happen.
• Stockton council votes for mediation; city could become biggest in US to go bankrupt
  The city of Stockton in California's crop-abundant Central Valley has the second-highest foreclosure rate in the nation and one of the highest crime and unemployment rates. It was named America's most miserable city in a national magazine — twice.

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