Public Employee Pension Systems

As the Illinois Supreme Court considers the constitutionality of the state’s pension plan reform law and Gov. Bruce Rauner (R) considers proposing a 401(k)-style pension plan for many government employees, local cities must address immediate challenges posed by their pension plans. Rauner’s... READ MORE

Many states and local government pension plans face funding challenges. At the same time, average longevity is increasing. Seems logical that retirees living longer would exacerbate those funding woes, but a recent study by the Center for State and Local Government Excellence, “How Will Longer... READ MORE

State pension plans are likely to continue affecting state budgets and funding, says Standard & Poors. In a study published March 24 on RatingsDirect, S&P indicated that the strains state pension plans face and cause are not likely to end any time soon.Among the factors upon which S&P... READ MORE

Most states are making a good faith effort to meet their annual required contributions (ARCs) to their state pension systems. That’s the conclusion the National Association of State Retirement Administrators (NASRA), an association of the directors of state and territorial public retirement systems... READ MORE

If a government employee separates from service, would he need a recurring contribution in order to fall under the Code Section 401(a) special pay provision? In this week’s Tech Talk, Ellie Lowder tells us. READ MORE

Identical bills before both chambers of the Iowa legislature would end state taxation of pensions and other forms of retirement income — but only through 2020.HF 280 and SF 277 would remove from the Iowa income tax law two provisions that define income as including all forms of retirement income,... READ MORE

The New Jersey Pension and Health Benefits Study Commission has issued its findings and proposals for how the Garden State can address its seemingly intractable state pension funding problems.In a manner similar to the brash style of New Jersey Gov. Chris Christie (R), who created it, the... READ MORE

Public pension plans had a good month in February, according to BNY Mellon Investment and Strategy Group (ISSG). Public plans’ robust month was attributable to their allocations to high-yield fixed income and U.S. large cap equities, ISSG says.February saw the biggest monthly improvement in the... READ MORE

The NTSA is very pleased to announce that our persistent effort to ensure that public school employees receive the same important retirement plan information provided to private sector retirement plan participants, including fees, expenses and compensations, has passed a significant milestone: On... READ MORE