The best way to close public pension funding gaps, according to the National Conference on Public Employee Retirement Systems (NCPERS), is to reform state and local revenue systems and close tax loopholes. “But that is a long road, and it is beyond the scope of responsibilities of pension trustees and administrators,” NCPERS said in a recent research paper called “Ten Ways to Close Public Pension Funding Gaps.” “However, we can help ensure that state and local governments are looking [...]
Public retirement systems produced solid returns, kept a lid on expenses, and adopted more conservative investment assumptions during 2017, according to a wide-ranging annual study by the National Conference on Public Employee Retirement Systems. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180124005871/en/ […]
State efforts to set up private-sector retirement savings programs are making progress, a white paper to be released Tuesday by the National Conference on Public Employee Retirement Systems said. Officials at NCPERS began discussing state “secure choice” programs in September 2011. One year later, California became the first state to pass legislation that established a secure choice board and feasibility study, the groundwork for a program now in development for a 2019 launch. […]
Weighing in on the rising trend towards doing away with defined benefit pension plans, a study by the National Conference on Public Employee Retirement Systems (NCPERS) highlights the costs to the economy that will result by 2025 from the disappearance of these plans. According to Michael Kahn, director of research, NCPERS, “A great deal of criticism of public pensions is based on a faulty understanding of how long-term liabilities are funded. Opponents of public pensions tend to whip up [...]
More companies have shifted away from defined-benefit plans in the past few decades, as they struggle with mounting pension obligations. Now, a new report argues that the large-scale move by companies toward defined-contribution 401(k) plans is widening the gap between rich and poor in the United States. […]
Click here to read the National Conference on Public Employee Retirement Systems (NCPERS) report on income inequality. The research was conducted by Michael Kahn, Ph.D., who was a panelist at the 2014 CORPaTH Summit and Crystal Globe Awards.
Some pension program changes, such as the shift to defined contribution plans from defined benefit plans, might be widening the income gap and dampening economic growth, said a new report from the National Conference on Public Employee Retirement Systems. There are conversations about income and equality, but few touch on the treatment of pensioners and how that contributes to income inequality, said Hank Kim, Washington-based, executive director and counsel at NCPERS and co-author of the report. […]
The following is a letter by Hank Kim (NCPERS): Andrew Biggs misses the point in “Pension Reform Doesn’t Mean Higher Taxes” (op-ed, March 26). His arguments for switching public employees from traditional defined-benefit pension plans to 401(k) and other defined-contribution plans may be embraced by state and local governments that regularly don’t make required contributions to their pension plans and are now looking for a way out of the financial hole they’ve dug for themselves. It’s bad enough that he dismisses [...]