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State Sponsored Plans

State Sponsored Plans

State Sponsored Plans

By John Iekel7/15/2014 • 0 Comments

On July 9, Missouri Gov. Jay Nixon (D) signed into law a measure that makes it illegal to transfer or assign public pension benefits. The Show-Me State is the first to enact such legislation. 

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By Chris DeGrassi7/8/2014 • 0 Comments

NTSA is always busy working on your behalf and that of those whom you serve. Following is a look at what’s been going on in selected states, as well as NTSA’s assessment and what action we are taking.  READ MORE

By John Iekel6/2/2014 • 0 Comments

State pensions have been in the news a lot lately, and not always in a good way. The ways in which states meet the challenges of providing pensions for their employees are as numerous and varied as the states themselves. In the latest MarketBeat, Michael A. Webb takes a state-by-state look at what the states are doing and how they are changing the way they provide pensions — including turning to mechanisms other than traditional DB plans.  READ MORE

By John Iekel5/22/2014 • 0 Comments

The IRS took the industry by surprise with the definition of severance of employment (specifically for public school districts) contained in the Listing of Required Modifications (LRMs) posted in March 2013 to provide guidance on the preparation of plan documents for the IRS 403(b) pre-approval program. In this week’s MarketBeat, Ellie Lowder discusses the issues the IRS' new position raises. 

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By John Iekel5/15/2014 • 0 Comments

Some states and cities have found that cutting cost-of-living adjustments (COLAs) to the pensions they provide their employees is a way to loosen the financial vise of pension liabilities. The Center for Retirement Research of Boston College in its recent study, “COLA Cuts in State and Local Pensions” discusses this child of the Great Recession and generous pension plans whose context has changed.  READ MORE

By Fred Barstein5/3/2014 • 0 Comments

Reacting to a forensic investigation initiated by state employees, North Carolina’s $87 billion state pension system may be moving from a sole trustee to a board soon. As reported in P&I, a panel convened by State Treasurer Janet Cowell (D) is recommending the change amid allegations set forth in a forensic investigation commissioned by the State Employees’ Association of North Carolina.  READ MORE

By John Iekel4/22/2014 • 0 Comments

State pension plans face continuing and growing challenges in fulfilling the promises they have made to their employees — to the tune of a collective $915 billion. The Pew Charitable Trust has issued a new report that serves as a wake-up call to state governments, but it does contain a kernel of hope.  READ MORE

By John Iekel4/22/2014 • 0 Comments

The Office of State and Local Finance, the Treasury Department’s newest, is charged with coordinating oversight of state and local financial bond markets, but that’s not all — it also will monitor public pension fund liabilities, Pensions & Investments reports.

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By John Iekel4/6/2014 • 0 Comments

The “Pension Pulse” blog reports that Berkshire Hathaway Chief ExecutivWarren Buffett has warned in a letter to Berkshire shareholders that promises local and state governments made to provide pensions to retirees will become even harder to fulfill and will tighten the financial vise squeezing those governments and those plans. READ MORE

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