Welcome to the latest edition of This Week in Pensions! As we do most weeks, we have gathered the best stories about pensions and retirement security from the previous week. This is the news you need to know in the fight for a secure retirement.
Here are this week’s top stories:
- Teachers flock to run for office by Adam Beam: in Kentucky as in many other states, public school teachers are running for public office in record numbers. Considering their generally low pay and the continuing attacks on their pensions, it is not surprising that teachers would choose to run for office to offer solutions for our educators and their students.
- Public Pensions Are Delivering on Promises to Retirees, Annual NCPERS Study Shows by KLTV: according to an annual survey of public pension funds, pension plans produced solid returns, kept a lid on expenses, and adopted more conservative investment assumptions during 2017. “Pension systems have grown increasingly confident in their ability to adapt to pressure and deliver on their promise to retired public servants,” says Hank Kim, executive director of NCPERS.
- Editorial: Bevin’s budget plan more like a shell game by Journal-Times editorial board: Kentucky Governor Matt Bevin has proposed his budget plan for this year, a plan that cuts many state agencies and programs. We have emphasized the need for Kentucky to pursue responsible revenue increases and the editorial board agrees: “Regrettably, although he mentioned the need for tax reform and additional state revenue, he failed to specify how or when that should be done.”
- Public Pensions Produced Solid Returns in 2017 by Lee Barney: in 2017, public pension plans achieved 1 year, 5 year, and 20 year investment returns that met or exceeded investment return assumptions. These plans also took steps last year to adjust their plan assumptions in order to meet the realities of today’s financial markets. These moves demonstrate the responsible management of these plans for the benefit of their members and retirees.
Be sure to check back next week for the latest news in the fight for a secure retirement!