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NYC urged to alter investing mix to cut pension gap

New York City is overweighted in U.S. stocks and should invest more of its pension funds in other assets, such as U.S. Treasuries, and must lower benefits for new hires, Deputy Mayor Robert Steel said on Thursday.

NYC Pension Funds Rose Most in 13 Years in Fiscal 2011, Comptroller Says

New York City’s pension funds gained the most in 13 years last fiscal year after the hiring of new asset managers and improved stock and bond markets, Comptroller John Liu said.

Cuomo Urges Broad Limits to NY Public Pensions

Danny Hakim, Thomas Kaplan - The New York Times 06/08/2011

Irish Bombshell: Government Raids PRIVATE Pensions To Pay For Spending

Joe Weisenthal and Gregory White Business Insider 05/10/2011
Cuomo Urges Broad Limits to NY Public Pensions

Gov. Andrew M. Cuomo, joining a parade of officials from across the country who are seeking to rein in spending by limiting public employees’ pensions, proposed Wednesday to broadly limit retirement benefits for new city and state workers in New York.

Irish Bombshell: Government Raids PRIVATE Pensions To Pay For Spending

The Irish government plans to institute a tax on private pensions to drive jobs growth, according to its jobs program strategy, delivered today.

European nations begin seizing private pensions

Jan Iwanik Christian Science Monitor 01/03/2011
US States Warned of $2 Trillion Pensions Shortfall

US public pensions face a shortfall of $2,500 billion that will force state and local governments to sell assets and make deep cuts to services, according to the former chairman of New Jersey’s pension fund.

European nations begin seizing private pensions

People’s retirement savings are a convenient source of revenue for governments that don’t want to reduce spending or make privatizations. As most pension schemes in Europe are organised by the state, European ministers of finance have a facilitated access to the savings accumulated there, and it is only logical that they try to get a hold of this money for their own ends. In recent weeks I have noted five such attempts: Three situations concern private personal savings; two others refer to national funds.

New York Pension Checks Are in the Mail - Really

New York state retirees, your check is in the mail. Really. The state may be short on cash, but it assured former employees looking for late pension checks that they will get them.

Survey finds all-time low in Americans' retirement confidence

BOSTON (MarketWatch) -- Fewer and fewer Americans these days are singing "I Have Confidence," Julie Andrews' classic song from the "Sound of Music." No it's not because the song, released some 44 years ago, has fallen out of fashion. Rather, it has more to do with the economy, inflation and the cost of living.

Massachusetts Governor lays out pension reforms

John C. Drake The Boston Globe 03/22/2009
Massachusetts Governor lays out pension reforms

Governor Deval Patrick laid out a series of proposed reforms to state and municipal pension systems yesterday, even though he and legislative leaders acknowledged that they are not likely to bring immediate relief to the state's budget crisis. They are needed, however, to restore public confidence in state government, he said.

British pensioner murder in South Africa for his microwave

A British pensioner who retired to South Africa has been murdered by robbers for his microwave three months after his wife died.


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