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State Sponsored Plans

State Sponsored Plans

State Sponsored Plans

By John Iekel9/26/2014 • 0 Comments

The Office of Personnel Management on Sept. 24 announced that surviving same-sex spouses of federal annuitants, employees or former employees who died before June 26, 2013 may apply for death benefits. READ MORE

By John Iekel9/24/2014 • 0 Comments

Oregon State Treasurer Ted Wheeler recently presented the legislature with recommendations from the state’s Retirement Security Task Force for increasing Oregonians’ retirement savings, access to a retirement plan and ability to enroll in one. READ MORE

By Ray Harmon9/23/2014 • 0 Comments

Republican Sen. Orrin Hatch (R-Utah) introduced the Secure Annuities for Employee (SAFE) Retirement Act (S. 1270) last year to reform the public and private pension systems and, amid recent retirement reform hearings on Capitol Hill, his public pension reform idea is now getting noteworthy support from an otherwise unlikely place: the left-leaning Urban Institute. READ MORE

By John Iekel9/18/2014 • 0 Comments

Public pensions at all levels became healthier in 2013, according to recent studies. Wilshire Consulting’s examinations of state, county and city pension plan funding show that their funding ratio improved last year.
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By John Iekel9/18/2014 • 0 Comments

In “Public Pensions in Flux? A Review of State Retirement System and Alternatives to Traditional Defined Benefit Plan,” Ellie Lowder of TSA Consulting and Mike Webb of Cammack Retirement shared their insights on state retirement systems, current cutbacks, and the opportunities and challenges that come with developments concerning these plans. 
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By John Iekel9/16/2014 • 0 Comments

Washington has been training its eye on fees and transparency for years now. But so is the industry; the North American Securities Administrators Association is the latest organization to convene a group trying to make sure broker-dealers are giving investors fee disclosures they can understand. READ MORE

By NTSA Net Staff9/12/2014 • 0 Comments

It’s only September, but the end of the 2014 plan year is fast approaching. That means more than compiling data for information reporting and preparing for the 2015 plan year — it also means providing notices to defined contribution plan participants before New Year’s Eve. READ MORE

By John Iekel9/11/2014 • 0 Comments

The Garden State is the latest state whose credit rating has suffered due to a pension funding shortfall. Credit agencies have downgraded their ratings of New Jersey debt due to the state’s worsening pension funding ratio.
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By John Iekel9/11/2014 • 0 Comments

The California Controller’s office soon will make information about the state’s approximately 130 public pension systems available on a new website. The site does not provide data on California public pension plans, but the controller’s office says that it will later the fall. READ MORE

By John Iekel9/9/2014 • 0 Comments

The Rhode Island Democratic primary is being touted as more than a way to decide who their 2014 gubernatorial candidate will be — in a sense the reform of the state pension system is on the ballot as well. Rhode Island Treasurer Gina Raimondo, who is running for the Democratic nomination for governor, implemented the reform in 2011. READ MORE

By NTSA Net Staff9/8/2014 • 0 Comments

The degree of fiduciary responsibility for non-ERISA plans, such as those sponsored by public education and religious organizations, continue to generate many questions from plan sponsors and the advisors that serve them. In this week’s MarketBeat, Mike Webb argues that this is understandable, and attempts to assist plan sponsors and those who work with them in determining what fiduciary responsibility, if any, they have. READ MORE

By John Iekel9/8/2014 • 0 Comments

The Land of Lincoln has earned a dubious distinction, according to a new report by Moody’s: It is without peer in how its state pension liability compares to its revenue. Moody’s says that Illinois’ pension debt amounted to a whopping 318% of its revenue in 2012. Its three-year average for the period 2010-12 was almost as bad, at 258%. And that trend has continued.
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By Nevin Adams9/5/2014 • 0 Comments

The Federal Reserve’s 2013 Survey of Consumer Finances (SCF) shows mixed results concerning 403(b) plans. The SCF finds that ownership of retirement accounts — including403(b)s — slipped below 50% in 2013; however, participation in retirement accounts — including 403(b)s — rebounded slightly for upper-middle income families since the 2010 SCF.
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By John Iekel9/2/2014 • 0 Comments

Prospects for state and local employees’ financial security in retirement are better than that of their private-sector counterparts, according to a new paper from the National Association of Government Defined Contribution Administrators (NAGDCA). Nonetheless, the paper argues, steps still should be taken to improve their readiness.

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By NTSA Net Staff8/29/2014 • 0 Comments

Public school employees can contribute to a 403(b) plan, or to a 457(b) plan. Sounds great, but doing so can have negative ramifications. In this week’s MarketBeat, David Blask notes that these plans differ in several important ways and observes that the determination regarding which plan is best yields different answers depending upon an employee’s particular situation.

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By NTSA Net Staff8/28/2014 • 0 Comments

There is great variation among the states regarding their ability to meet their obligations to current and future retirees from their state and local workforces. The U.S. Census Bureau in its recently released 2013 Survey of Public Pensions: State-Administered Defined Benefit Data highlights those differences in stark relief in the information it provides on revenues, expenditures, financial assets, membership and liabilities of 227 state-administered DB systems.
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By Nevin Adams8/26/2014 • 0 Comments

With the official report not due until September, a draft report released by the Oregon legislature's Task Force on Oregon Retirement Savings offers a blueprint of a proposed new mandatory auto IRA program for the state.
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By John Iekel8/19/2014 • 0 Comments

Gov. Chris Christie (R) seems to have read the tea leaves correctly in setting up a commission to make recommendations on how to reform New Jersey’s public pension system. And that’s not just regarding the needs of the system — it also appears to be prescient regarding the views of his constituents, according to a study Quinnipiac University released on Aug. 11.
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By John Iekel7/18/2014 • 0 Comments

Detroit may well be the poster child for municipal pension irresponsibility (though if there were an award for that, it would be extremely competitive). But give credit where it’s due: the Motor City has also been a model for how to dig out of the public pension hole.  READ MORE

By John Ortman7/16/2014 • 0 Comments

Are graft and fraud the next big thing for state pension plans? An industry segment already beset by massive underfunding, bankruptcy court proceedings and other litigation, politics and pension envy doesn’t need any more bad news. But that may be exactly what it gets.  READ MORE

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