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News

Certified Trustee Program 19-5 – Registration Now Open
Source: IPPFA

Certified Trustee Program 19-5 is being held at NIU Campus, Hoffman Estates, Illinois starting October 21, 2019.

For over 30 years, the IPPFA has offered public pension trustees the best and latest in trustee training education, striving to offer the best available training. Please join us for sessions in ethics, investment procedures, fiduciary responsibilities, and legal and legislative updates, all presented by nationally renowned speakers.

Register NOW

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How Much Income Do Retirees Actually Have?
Source: Center for Retirement Research

The brief’s key findings are:

  • Recent research has re-documented that the Census Bureau’s Current Population Survey (CPS) understates retirement income.
  • Some have wondered if this problem also applies to other surveys and calls into question decades of research that suggest many are ill-prepared for retirement.
  • To answer this question, the analysis compared estimates from five commonly used national surveys to administrative data from the IRS and Social Security.
  • This comparison shows that:
    • the CPS continues to substantially understate retirement income, but
    • the other four surveys – the SCF, HRS, SIPP, and PSID – track closely with administrative data, and
    • estimates of retirement preparedness using a reliable survey find that roughly half of older households may fall short in retirement.
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Certified Trustee Program 19-1 – Registration Now Open
Source: IPPFA

Certified Trustee Program 19-1 is being held at NIU Campus, Naperville, Illinois starting March 4, 2019.

For over 30 years, the IPPFA has offered public pension trustees the best and latest in trustee training education, striving to offer the best available training. Please join us for sessions in ethics, investment procedures, fiduciary responsibilities, and legal and legislative updates, all presented by nationally renowned speakers.

Register NOW

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Cost of Care Survey 2018
Source: Genworth

For 15 years, Genworth has developed the Cost of Care Survey to help families understand the costs of varying types of care across the U.S. Since 2004, the Cost of Care survey has become the foundation for long term care planning. The 2018 survey, conducted by Carescout®, covering 440 regions is based on data collected from more than 15,500 completed surveys. Get started today. Calculate the Cost of Care in your area.

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Welcome Pontiac Fire Pension Fund to IPPFA
Source: IPPFA

Welcome Pontiac Fire Pension Fund to IPPFA.

 

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Trends in Retirement Security by Race/Ethnicity
Source: Center for Retirement Research

The brief’s key findings are:

  • The earnings and wealth gaps between whites and minorities are enormous. The question is how these disparities translate to retirement preparedness.
  • In 2016, the share of whites at risk in retirement was 48 percent vs. 54 percent for blacks and 61 percent for Hispanics, smaller than the earnings/wealth disparities.
  • The retirement gap is smaller simply because minorities have a lower pre-retirement standard of living to maintain.
  • From 2007-2016, retirement risk for all three groups increased, but the gap between whites and blacks narrowed while Hispanics fell further behind because:
    • a sharp decline in earnings among low-income blacks was buffered by Social Security; and
    • Hispanics were hit much harder than either whites or blacks by the bursting of the housing bubble.
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Police Officers Why We Do It
Source: IPPFA

It would be easy to think that the police officer is a figure who has existed since the beginning of civilization. That’s the idea on display in the proclamation from President John F. Kennedy on the dedication of the week of May 15 as “National Police Week,” in which he noted that law-enforcement officers had been protecting Americans since the nation’s birth.

In fact, the U.S. police force is a relatively modern invention, sparked by changing notions of public order, driven in turn by economics and politics, according to Gary Potter, a crime historian at Eastern Kentucky University.

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Welcome Carbondale Fire Pension Fund to IPPFA
Source: IPPFA

Welcome Carbondale Fire Pension Fund to IPPFA.

 

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It is with heavy hearts that we announce the passing of IPPFA Director Robert “Bob” Burress
Source: IPPFA

Bob was a founding member of the IPPFA and served as a director from 1986-1995 and then again from 2008-2018. Bob retired as Chief of Police from the Pekin Police Department in 1995 and served as the Police Pension Fund President for 23 years.

Bob was a dear friend, mentor, and a huge supporter of the IPPFA. He will be greatly missed not only by his IPPFA family, but by everyone that knew him.

His memorial service will be at 10:30 a.m. on Friday, November 16, 2018 at Preston-Hanley Funeral Homes & Crematory in Pekin, IL. Pastor W. Lloyd Brock will officiate. Visitation will be from 4 p.m. to 7 p.m. on Thursday, November 15, 2018 at the funeral home. Inurnment will follow the service in Glendale Memorial Gardens in Pekin, IL. Honors will be accorded by the Pekin Police Department.

In lieu of flowers, memorial contributions may be made to Tazewell Animal Protective Society, 100 Taps Lane, Pekin, IL 61554, as Bob was big into animals.

Click here to view Bob’s Obituary

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The Dangerous Consequence Of Cutting Public Safety Pensions
Source: Forbes

Management consulting firm McKinsey reports that organizations that appear on “best places to work” lists often make the cut because their business strategy is premised on a long-term relationship with their employees. McKinsey credits companies for both the large and small signals sent to employees that an organization cares about its people.

Valued by employers as a workforce management tool to recruit and retain talent, offering defined benefit (DB) pension benefits is one way that employers send a loud signal to employees that they are committed to a long-term relationship. The structure of a pension increases the financial value of a DB pension benefit over an employee’s career. This provides a meaningful incentive for employees to stay in their jobs. Research indicates that employees value pensions as a path economic security in retirement, especially as compared to individual defined contribution (DC) accounts.

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