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News

2017 Public Pension Funding Study
Source: Milliman

The Milliman Public Pension Funding Study annually explores the funded status of the 100 largest U.S. public pension plans and reports the plan sponsor’s own assessment of how well funded a plan is. As of June 30, 2017, the aggregate funded ratio is estimated to be 70.7% as assets experienced healthy growth. Market performance since the last fiscal year ends have been strong, and we estimate that aggregate plan assets have jumped to $3.44 trillion as of June 30, 2017.

 

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IPPFA Regional Seminar – Jumer’s Hotel/Casino Rock Island – Registration Now Open
Source: IPPFA

Come join the IPPFA for a regional seminar being held at Jumer’s Hotel/Casino Rock Island, Illinois.

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.

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“How Have Municipal Bond Markets Reacted to Pension Reform?”
Source: Center for Retirement Research

 

The brief’s key findings are:

  • Bond rating agencies have begun accounting for public pension funding and have cited pensions in several downgrades.
  • As a result, state and local governments see that their pension finances could threaten their ability to borrow at affordable rates.
  • This study examines the impact of both pension finances and pension reforms on borrowing costs from 2009 to 2014.
  • The results show that a higher ratio of unfunded pension liability to government revenue is related to increased borrowing costs.
  • Pension reforms appear to reduce borrowing costs but the result is not statistically significant, perhaps because those making changes also had poor general finances.

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IPPFA Regional Seminar – NIU Hoffman Estates Campus – Registration Now Open
Source: IPPFA

Come join the IPPFA for a regional seminar being held at NIU Campus in Hoffman Estates, Illinois.

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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State Insurance Mandates and the ACA Essential Benefits Provisions
Source: NCSL

Overview

Every state has a substantial number of laws that require private market health insurance to cover specific benefits and provider services. An introduction to such laws is provided below, titled Understanding Mandated Health Insurance Benefits.

State Mandated Benefits

Traditionally states counted health mandate laws to include required categories of up to 70 distinct “benefits” as well as “health providers” (such as acupuncturists or chiropractors) and “persons covered” (such as adopted children, handicapped dependents or adult dependents). Adding up these laws, there are more than 1,900 such statutes among all 50 states; another analysis tallies more than 2,200 individual statute provisions, adopted over a 30+ year period.

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Certified Trustee Program 18-4 – Registration Now Open
Source: IPPFA

Certified Trustee Program 18-4 is being held at Lewis & Clark College, Edwardsville, IL.

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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The State of Retirement Security in the United States
Source: NPPC

This week is National Retirement Security Week. Every year this week is used by the financial industry to promote retirement savings through their products and services. While we applaud the goal of promoting adequate retirement savings for all Americans, the reality is that many working families are not saving at all and are woefully unprepared for retirement. So this year we are flipping the script and talking about National Retirement (In)Security Week.

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Certified Trustee Program 18-5 – Registration Now Open
Source: IPPFA

Certified Trustee Program 18-5 is being held at NIU Campus in Hoffman Estates, IL.

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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Employee Contributions to Public Pension Plans
Source: NASRA

Unlike in the private sector, nearly all employees of state and local government are required to share in the
cost of their retirement benefit. Employee contributions typically are set as a percentage of salary by
statute or by the retirement board. Although investment earnings and employer contributions account for a
larger portion of total public pension fund revenues (see Figure 1), by providing a consistent and predictable
stream of revenue to public pension funds, contributions from employees fill a vital role in financing
pension benefits.i Reforms made in the wake of the 2008-09 market decline included higher employee
contribution rates in many states. This issue brief examines employee contribution plan designs, policies
and recent trends.

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Certified Trustee Program 18-3 – Registration Now Open
Source: IPPFA

Certified Trustee Program 18-3 is being held at NIU Campus in Hoffman Estates, IL.

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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