Lillie Ruby

Lillie Ruby
From:
Sent:
To:
Lisa Dolen
Thursday, November 20, 2014 7:27 AM
Lillie Ruby; Kathi Bassett; Angelo & Kathryn Grande; Anne Flansburg
([email protected]); Anthony Colombo ([email protected]); Brian
Sherman ; Carol Lord; Charles T. Peszynski; Doris Kirsch; Emily Castine; Gayla LePage;
George W. Forbes ([email protected]); Gwynne Bodle; James Flanagan
([email protected]); [email protected]; [email protected]; Judie
byndas ([email protected]); Kevin Mulligan; Leigh Powell ([email protected]);
Mary Johnson; [email protected]; [email protected]; Nancy Roberts ;
Patricia Dietrich; Robert Mooso; Rosalie Oliver; Salvatore Sedita; Timothy Quill;
[email protected]; Vincent Smith; William Tenity ([email protected]); Gary
Germain; Janice Mullins; Judy Klug; Mildred Rugur; Richard Bushnell; Robert & Linda
Cross; Robert LaFontaine; Ronald Wilson ([email protected]); Tom Parsnick;
William Lesniak
FW: NASRA News Clips
Subject:
NASRA News Clips
In the Media
New Mexico legislative committee
approves pension legislation "timeout"
period
Wayne Propst, the pension fund's executive director,
said the PERA board believes a five-year "timeout
period" would buy more time for the 2013 solvency
legislation to get the retirement system on solid
financial footing. "While we've had some good
(investment) returns and the solvency legislation
seems to be working as intended, it's just too early to
start saying let's revisit the reforms," Propst said.
Albuquerque Journal
California controller posts public
pension data online
"In the months ahead, California and its local
communities will continue to wrestle with how to
responsibly manage the unfunded liabilities
associated with providing retirement security to
police, firefighters, teachers and other providers of
public services," Chiang said. "Those debates and the
actions that flow from them ought to be informed by
reliable data that is free of political spin or ideological
bias," said Chiang.
November 19, 2014
Last call for PPCC Standards Award
applications
The application window for the Public Pension
Coordinating Council's Standards Award program
closes this Friday, November 21st. New this year are
a) revisions to reflect new GASB standards; b) a
relaxed standard for actuarial audits; and c) a $100 fee
to defray the cost of administering the program. The
application is accessible after paying the fee or creating
an invoice via the link below.
Access the application
Studies & Reports
Latest in a series: Milliman on GASB
proportionate share allocation
This PERiScope article discusses the allocation of
financial reporting liabilities for cost sharing multipleemployer plans.


PERiScope
GASB Implementation Resources
@NASRA.org
Public pension community response to
Actuarial Standards Board proposal for
1
public-specific standards


LA Times
Commentary on California pension
liabilities
Stockton and San Bernadino cases
suggest that cutting ties with CalPERS
would be difficult
After months of legal sniping, San Bernardino and
CalPERS announced in June they'd reached a
tentative settlement. They were under a courtimposed gag order and couldn't release any details
until now.
In a filing Monday in U.S. Bankruptcy Court in
Riverside, lawyers for the city said San Bernardino
intends to "ratify in full the City's relationship with
CalPERS." At a court hearing Tuesday, the city's
lawyers suggested San Bernardino wasn't eager to
pick a fight with the nation's largest public pension
fund, despite its earlier jousting. "The 800-pound
gorilla in the case is CalPERS," said Paul Glassman,
an attorney for the city, according to a report by
Bloomberg.
Sixty-two public retirement system directors,
administrators and trustees, and one state treasurer,
signed a letter in response to the ASB's Request for
Comments to an exposure draft regarding actuarial
standards that would be specific to public pension
plans.
Read the responses
S&P on OPEB: Diverging trends
underlie overall stability
Our current survey highlights a few states that have
had large absolute declines in their actuarial OPEB
liability as reported in the last year after making
changes to plan design or committing themselves to
pre-fund their OPEB with corresponding changes in
actuarial assumptions. Funding ratios have also
improved slightly for most states that have established
OPEB trusts, and changes to certain states' OPEB plan
design or eligibility requirements have also led to
declines.


Sacramento Bee
More state capitol reporters come from
groups with an ax to grind
The Franklin Center for Government and Public
Integrity is deploying reporters to cover state and
local governments around the country. Its ultimate
ambition is to have bureaus in every state. But they
aren't news bureaus in the way many traditional
journalists understand them. They are being paid to
cover government from an unabashedly ideological
perspective.The Franklin Center has been one of the
top recipients of money from groups tied to the
conservative billionaire Koch brothers. It grew from
zero outlets to 30 in its first year in 2009. By its second
year, it claimed outposts in 41 states.
Governing
Jacksonville, FL retirement official in
line to receive $300k+ pension
Angered by a progression of revelations about
taxpayer burdens for lucrative benefits and special
arrangements for pension fund leaders, and
frustrated by what they say is an inattentive and
unresponsive pension fund board, some City Council
members have threatened a forensic audit of the
pension fund, which would look for evidence of
Read the report
OPEB @NASRA.org
Federal Focus
PBGC annual report shows mixed
results, with some multi-employer plans
facing insolvency
The deficit in the single-employer program narrowed
to about $19.3 billion, down from $27.4 billion in 2013.
... PBGC's multiemployer insurance program's deficit
rose to $42.4 billion, compared with $8.3 billion last
year. The program's increased deficit is largely due to
the fact that several additional large multiemployer
plans are expected to become insolvent within the next
decade.
Press release and report
RAND study recommends Defense
Department switch to a hybrid plan
The current military retirement system has existed in
its basic form for nearly 70 years. The system is a
defined benefit plan, where the amount of the benefit
is defined by a formula based on basic pay, years of
service and a multiplier. Service members are vested at
20 years of service, and in the case of active duty
service members, receive an immediate annuity once
they leave the military. Study groups and commissions
have criticized the current system as being inequitable,
2
inefficient and inflexible. Only 34 percent of officers
and 14 percent of the enlisted force serve long enough
to receive benefits.
criminal activity.
Florida Times-Union
Perspectives
NCTR responds to recent Moody's
report
Press release and study
IRS retirement plan phone forums and
webinars
Free phone forums and webinars featuring IRS
The report does a shameful disservice to state and
local government pension plans and their successful employees discussing retirement plan topics.
record of providing modest, affordable and
sustainable retirement benefits to America's teachers, Info
police, firefighters, school bus drivers and all the
Job Postings
others in the public sector who help maintain a civil
society that is the envy of the world. By issuing this
 Chief Investment Officer - Houston
report, Moody's has added to the misinformation
Firefighters' Relief and Retirement Fund
regarding the retirement programs covering public
 Retirement Director - Spokane
sector workers and increased public confusion
regarding the efficiency and effectiveness of one of
Employees' Retirement System
the few models for providing real retirement security
 Vice President/Consultant - Wilshire
in our nation today.
Associates

Read the letter
Five takeaways on retirement from the
midterm elections
Executive Director - Chicago Teachers'
Pension Fund
For details on open positions, visit
Careers @ NASRA.org
Social Security does need reform. Its retirement trust
fund will be exhausted in 2034, when revenue from
payroll taxes would cover just 77 percent of benefits.
Meanwhile, the disability program will be able to pay
full benefits only through 2016. If Congress doesn't
act, 9 million disabled people will see their benefits
cut by 20 percent. Republicans have advocated higher
retirement ages, less generous cost-of-living increases
and means-testing of benefits. Some Democrats have
fought for expansion of benefits and revenue for the
program but haven't been backed by President
Obama or congressional party leaders.
Mark Miller at Reuters
National Association of State Retirement Administrators
www.nasra.org
202.624.1418
3