Newsletters 2013

	January 2013 INSIDE THIS ISSUE House Republicans seek pension changes Locally-Administered Pension Plan Funding Lags That Of State Plans Virginia weighs 401(k) plans for state workers Budget Expert, Unions Warn of Unconstitutional Pension Reforms New Social Security Retirees Will Outlive Official Trust Fund; 25% Benefit Cut In 2033; Reform may be possible now that implicit deal with workers has changed Workforce gets grayer all the time Americans Make Hard Choices on Social Security, Prefer to Raise Payroll Taxes and Increase Benefits Column: Retirees face their own ‘fiscal cliff’
	February 2013 INSIDE THIS ISSUE Maryland Treasurer Nancy Kopp says state must fully fund pensions Pension reform is put on hold Jerry Brown administration digs in against unions on pensions How GASB Changes Will Affect Public Pensions – Part III Big state pension change analyzed by actuaries Governor of Illinois Tells Legislators Pension Costs Put State at ‘Critical Juncture’ Retirement Redux; Survey Suggests Many Executives Rethinking Retirement How to get the most out of Social Security; The right timing and a little planning maximizes benefits and enhances retirement IRS Provides Single-Employer Defined Benefit Plan Average Segment Rates for 2013 Plan Year IRS Releases Covered Compensation Tables for 2013 Closed pension plans face non-discrimination peril
	March 2013 INSIDE THIS ISSUE State and Local Governments Focus on Pension Funding Policy House passes pension bill Legislation would limit cost-of-living increases Oregon Democrats unveil pension-cut proposal House passes pension bill Kansas lawmakers end push for 401(k)-style public pension plan United States: IRS Relief For 403(b) Retirement Plans Retirement squeeze is on in U.S. For Retirement Security Europeans Top Americans EBSA Releases Field Assistance Bulletin on New Annual Funding Notice Requirements for SingleEmployer Defined Benefit Pension Plans
	April 2013 INSIDE THIS ISSUE Senate OKs 401(k)-style pension plans for state employees Has Pension Reform Gone Too Far? Governor’s Proposal to Delay State Contributions Would Add Billions to Public Pension Debt Maryland governor gets bill changing pension funding formula Cash Balance Plans Could Overtake 401(k)s Using Pension Funds to Build Infrastructure and Put Americans to Work Many Pensions’ Current Approach to De-Risking Actually Increases Risk of Needing to Make Higher Contributions in the Future, According to Cambridge Associates Report United States: DOL Issues Guidance On MAP-21 Annual Funding Notice Requirements Baby Boomers’ Retirement Planning Confidence Trending Downward
	May 2013 INSIDE THIS ISSUE These California cities could be next in bankruptcy Illinois Pension Standoff Ahead as Senate Approves Its Own Fix Pensionomics 2012: Measuring the Economic Impact of DB Pension Expenditures Pa. pension reform legislation begins circulating Aging America: Seeking softer retirement landing Boomers’ outlook dims as retirement nears Washington: Take Three: Lifetime Income Illustrations Pension plans can make all the difference in retirement Fidelity® Estimates Couples Retiring in 2013 Will Need $220,000 to Pay Medical Expenses Throughout Retirement
	June 2013 INSIDE THIS ISSUE Reviewing, Understanding and Using the Actuarial Valuation Report and Its Role in Plan Funding (CORBA) (2013) Public pension costs swamp revenues of 10 U.S. states -Moody’s- Illinois Pension Standoff Ahead as Senate Approves Its Own Fix What’s a Chained CPI and How Might It Impact States? State pension reforms to result in more hybrid pension plans — report The Funding of State and Local Pensions: 2012-2016 Low Interest Rates Weigh on Retirement Readiness Actuaries: Living Longer + Lack of Lifetime Income = Risky Business Three-Fourths of Higher Education Baby Boomer Faculty Members Plan to Delay Retirement, or Never Retire at All Index Value Reaches Five-Year High in MetLife’s 2013 U.S. Pension Risk Behavior Index Study; — Many Plan Sponsors Poised to “De-risk” Their Defined Benefit Pension Plans FACT SHEET: SOCIAL SECURITY AND MEDICARE TRUSTEES REPORT
	July 2013 INSIDE THIS ISSUE Fight on Detroit Retiree Funds Looms U.S. public pensions weaken, but deterioration slowing Understanding New Public Pension Funding Guidelines and Calculations San Jose pension reform goes to court Maryland State Retirement Agency Reports Preliminary Return of 10.6% on Investments in FY 2013 Exceeds 7.75% Assumption Sheet Metal Workers pension fund latest to go to variable benefits Opening the Window Wider Risky Business: Living Longer Without Income for Life PBGC Proposes Rules on Premium Rates, Payment of Premiums, Reducing Regulatory Burden; Comments Due September 23, 2013 Golden Years or Financial Fears? Decision Making After Retirement Seminars
	August 2013 INSIDE THIS ISSUE THE REAL HISTORY OF PUBLIC PENSIONS IN BANKRUPTCY San Bernardino Wins Eligibility for Bankruptcy Rising returns give US public pension funds chance to reform New York’s Pension Rates Decline for First Time in Five Years UPDATE 1-Judge speeds hearing on Detroit bankruptcy eligibility Some Pensions Embrace Riskier Assets Appellate ruling changes game for private equity Foreign Retirement Plans Seen Scrutinized in U.S. Effort: Taxes IRS grants church-plan status to St. Peter’s Healthcare System Funding Improvements Shouldn’t Nix Pension Contributions
	September 2013 INSIDE THIS ISSUE Morningstar Releases Its 2013 Edition of The State of State Pension Plans EXCLUSIVE-U.S. city, county public pension levels sank in 2012-Wilshire Moody’s Proposes Making Pension Liabilities a Bigger Factor in Bond Ratings Top-performing public pension funds Retiree Health Benefits May Be Harder to Cut If Court Ruling Holds Kodak Leaves Bankruptcy Behind with its Pensions in Hand Pension funding relief is tempting but the price may be too high in the long run Employers shift health coverage Actuaries Encourage Employers to Consider Offering Retirement Income Programs Can defined contribution plan returns match defined benefit?
	October 2013 INSIDE THIS ISSUE NASRA Issue Brief: Public Pension Plan Investment Return Assumptions Cities borrow to strengthen pension funds North Miami Beach to sue pension board Cullerton: Illinois pension debt not a ‘crisis’ VRS pension underfunding criticized All Eyes on 2018, and How to Avoid Excise Tax Poll: Half of older workers delay retirement plans Stealth Bill Would Allow Cuts to Current Pensions Social Security’s Real Retirement Age Is 70 A long history of reaction
	November 2013 INSIDE THIS ISSUE Cincinnati Issue 4: Voters say loud no to pension reform Six reasons that a frozen pension plan is different Dillon: Retiree health care, not pension shortfall, a core reason for Detroit bankruptcy Chicago Has Credit Rating Cut 3 Steps by Fitch on Pension’ Pew Study Outlines Impact State, Federal Cuts Had on Cities SEI Research: A Switch To Mark-To-Market Accounting Has Little Impact On Key Financial Metrics Retirement Plans: Year-End Planning Funded Status of U.S. Corporate Pensions Rises to 91.8% in October Possible extension of MAP-21 interest rate stabilization 2012 Asset Allocations in Fortune 1000 Pension Plans
	December 2013 INSIDE THIS ISSUE Detroit Becomes Biggest U.S. City Ever Eligible for Bankruptcy Detroit pension funds can go straight to U.S. appeals court How One Mayor Pulled His City Back From the Brink of Bankruptcy Cities and the Fiscal Challenge of Retiree Health Care San Jose pension reforms ruled violation of rights 2013 End of Year Plan Sponsor “To Do” List Part 3– Qualified Retirement Plans Is age 70 retirement the ‘new normal’? Pyramis Survey Reveals Rising Risk Appetite Among Corporate U.S. Mid-Market Pension Plans, Despite Concerns Preview of 2014 Lump Sum Interest Rates Additional Information On 2013 Long Term Projections For Social Security