The Political Bridge

AFSCME Report Recommends Best Practices for Public Pension Plans

Among the report's findings are the following positions on ethics for member of state retirement systems:

· Prohibition on Insider Trading

· State and/or Local Conflict of Interest Laws

· Avoidance of Appearance of Nepotism

· Limitation on Receipt of Gifts

· No-Contact Policy

· Disclosure of Communications

· Prohibition on Campaign Contributions

· (Pay-to-Play)

· Disclosure of Third-Party Relationships and Payments; Permanent Ban on Current or Former Board Members or Employees from Providing Placement Agent Services in Connection with the System

 

To read the report Download AFSCME-report-pension-best-practices

The Next Causality of the Wall Street Meltdown: Your Pension Plans

From Labor Notes

Nobody wants to admit it, but the next casualty of the Wall Street meltdown will probably be your golden years.  

Nearly $4 trillion worth of retirement savings were wiped out in the first weeks of the 2008 financial freefall. Half of the drop was concentrated in traditional pension plans, also known as defined-benefit plans. While most workers in these plans haven’t had their monthly benefits cut, unlike the 46 million people riding the stock market with 401(k) defined-contribution plans, the storm clouds are gathering.