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Pension Fraud by New Jersey
- By Jerry Taylor
- Published 08/19/2010
- Pension Watch
The Securities and Exchange Commission said the action was its first ever against a state, and only its second against any government over the handling of a public pension fund. The first was the city of San Diego. More may be in store; the agency announced in January that it had a special unit looking into public pension disclosures. The S.E.C. has been trying to assume more authority over municipal securities.
(Webmaster: This is an interesting and alarming article about New Jersey. It is worth viewing. Read the comments section as well.)
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Pension Report
- By Ray Sanderson
- Published 08/2/2010
- Pension Watch
Payback Time
- By Jerry Taylor
- Published 06/23/2010
- Pension Watch
State Actuary Review as of May 2010
- By Jerry Taylor
- Published 05/17/2010
- Pension Watch
New Report on Funded Status of State and Local Pension Plans
- By Jerry Taylor
- Published 04/13/2010
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April Pension Report
- By Ray Sanderson
- Published 03/24/2010
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Pension Report for March 2010
- By Ray Sanderson
- Published 03/13/2010
- Pension Watch
Since 2007, investment losses and the weakness of state and local government revenues have produced extraordinary stress for public retirement funds in the United States. This stress magnified the funding issues retirement funds encountered because of the recession at the turn of the century.
February Pension Report
- By Ray Sanderson
- Published 02/10/2010
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January Pension Report
- By Ray Sanderson
- Published 01/5/2010
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National Pension Survey
- By Jerry Taylor
- Published 11/25/2009
- Pension Watch
NASRA Releases Results from National Survey of Public Pension
Public pension funding levels have declined according to this year’s Public Fund Survey, an annual overview of public pension plan financing, membership and design. This year's summary is the first following the sharp drop in global investment markets that occurred in 2008. The survey is an online compendium of key characteristics of the nation's largest public retirement systems and is sponsored by the National Association of State Retirement Administrators (NASRA) and the National Council on Teacher Retirement.
According to the report, the 2008 fall in pension asset values has caused aggregate public pension funding levels to move downward from 86.7 percent in FY 2007 to 85.3 percent in FY 2008. Because public pension actuarial methods are designed to temper the effect of market volatility, public pensions will recognize the investment losses incurred in 2008 over several years. During this recognition period, funding levels are expected to decline, although losses may be partially offset with investment gains.
The author anticipates that future funding levels will also be influenced to the extent sponsoring state and local governments consider adjustments to benefit levels and financing arrangements, such as reduced benefits for future hires, reduced future accruals, and/or higher contributions for both employers and employees.
View the entire report by clicking here.

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