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San Diego County pension plan gets dismissal of case by former employee against ex-OCIO
Headline: San Diego County pension plan gets dismissal of case by former employee against ex-OCIO
Publication: Pensions & Investments
Article Date: Nov 2, 2017
“San Diego County Employees Retirement Association persuaded a trial judge to dismiss a case brought in January on the pension fund’s behalf by a former SDCERA investment officer against the pension fund’s former outsourced strategist and OCIO firm and others under the state’s false claim act, said Scott L. Metzger, partner at law firm Dukor Spradling Metzger & Wynne, who represented SDCERA in the case, and Josh D. Gruenberg of law firm Gruenberg Law, who represented the plaintiff.” Read article…
CA Treasurer John Chiang urges CalSTRS to divest in sellers of banned assault weapons
Headline: California’s teachers pension fund will consider divesting from gun retailers following mass shootings
Publication: Los Angeles Times
Article Date: Nov 1, 2017
California State Treasurer John Chiang urged CalSTRS board members to divest the pension fund’s holdings in wholesale or retail sellers of military-style assault weapons, ammunition and other devices such as “bump stocks” that are banned in California. Read article…
New scam targets CalPERS retirees
Headline: New scam targets CalPERS retirees
Publication: Los Angeles Times
Article Date: Nov 2, 2017
RESDC members be aware! While this is a story is related to CalPERS members, the scammers out there may try to copycat this scam. CalPERS is warning its members to look out for a scam that tells them they owe money to the pension fund. Read article…
Bad news: Your 401(k) won’t give you a decent retirement
Headline: Bad news: Your 401(k) won’t give you a decent retirement
Publication: Los Angeles Times
Article Date: Aug 10, 2017
Subjective Commentary by Mark Nanzer, Executive Director:
More proof that the 401(k) is a suspect savings vehicle. The author weighs in on a recent survey, documenting that 401(k)’s are destined to fail millions of Americans hopes for a secure retirement. Read article…
Tax Bill Leaves 401(k)s Unchanged, For Now
Headline: Tax bill leaves your 401(k) unchanged — for now
Publication: CNBC
Article Date: Nov 2, 2017
Members of Congress were considering proposing significant reductions to the amount of money workers could annually put into tax-deferred retirement accounts such as 401(k)s. The move would have sought to collect more taxes upfront on retirement savings in order to balance other planned tax cuts. But the recently unveiled tax bill leaves 401(k) savings alone. Many experts worry that lower limits would further deter people from saving for retirement, and worsen the U.S. retirement crisis. Read article…
(For more background, here is a previous article from the New York Times on Oct 28, 2017: Limit on 401(k) Savings? It’s About Paying for Tax Cuts)