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NCPERS 2009 Public Safety Employees Pension & Benefits Conference

NCPERS 2009 Public Safety Employees Pension & Benefits Conference. October 14, 2009. Williams & Jensen, PLLC. Historical Perspective. Police & Fire – at the Forefront 1857 – First Police Pension Plan (NYC) Retirement feature added in 1878

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NCPERS 2009 Public Safety Employees Pension & Benefits Conference

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  1. NCPERS 2009 Public Safety Employees Pension & Benefits Conference October 14, 2009 Williams & Jensen, PLLC

  2. Historical Perspective Police & Fire – at the Forefront • 1857 – First Police Pension Plan (NYC) • Retirement feature added in 1878 • Prior to 1900 – Chicago, Detroit, St. Louis and Indianapolis had police pension plans • By 1928, police and fire plans were practically universal

  3. Market Turmoil • Too Much Information! • Automakers, Banks, Madoff, Hedge Funds, Housing Market, Reg. Reform . . . • Pension Plans • Attention, but diffused by crowded agenda • DB v. DC Debate • Public v. private plans

  4. Negative Media • Dodging the bill, The Economist, 6/9/09 • Public Pensions Cook the Books, WSJ op-ed, 6/6/09 • Hidden Pension Fiasco . . . • Bloomberg, 3/3/09 • Articles targeted at specific plan investments

  5. Ramifications • Focus on: • Funding • Investments • Oversight • Hearings, Reports and Legislation (but not, yet)

  6. Underway (Broad Application) • Normal Retirement Age • FBAR • Pay-to-Play • Treasury – IRS Survey • GASB • Definition of Governmental Plan

  7. Underway (Broad Application),cont. • Estate Tax Reform • Expiring Tax Provisions • DB Funding (Private Plans) • PERAB

  8. Underway (Public Safety) • 72(t) Modifications • Representative Meek and Senator Nelson bills • H.R. 721 / S. 1657 • Federal safety employees • HELPS II (H.R. 1413) • Interplay with Health Care Reform • Normal Retirement Age • Revenue Raisers

  9. Period of Real Change. . . or more politics and noise? • President Obama and Congress • November 2009 Elections • 2010 Elections

  10. Conclusions • Vigilant and Hit Back • Prioritize • Strengthen your Base / Congress • Treasury is critical right now • Broad policies on retirement security • Specific regulatory projects

  11. Contact Information • Tony Roda • Partner • Williams & Jensen, PLLC 1155 21st Street, NW Suite 300 Washington, DC 20036 (202) 659-8201 ajroda@wms-jen.com

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