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This powerpoint reviews what’s at stake in the Budget showdown with clear slides and narrative. It reviews the four principles progressives have joined together to fight for and action steps you can take get involved and make a difference.
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AACC conducted a webinar on December 14, 2010 which covered topics ranging from the latest status of key legislative issues for community colleges to a discussion of the expected impacts of the 2010 elections on Congress and our priorities.
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On July 31, 2012, the AACC government relations team discussed recent developments in Washington that affect community colleges. Topics included funding for Pell Grants and other key programs, Workforce Investment Act reauthorization, the Obama administration's executive order on veteran students, the latest on gainful employment and other regulations, and more.
This powerpoint reviews what’s at stake in the Budget showdown with clear slides and narrative. It reviews the four principles progressives have joined together to fight for and action steps you can take get involved and make a difference.
The AACC government relations team provided an overview of what Congress has on its plate this Fall. Topics included up-to-the-moment information on FY 2012 funding for Pell Grants and other key programs, the work of the deficit reduction "super committee," Trade Adjustment Assistance reauthorization and the latest status of the TAA Community College and Career Training Program, and more.
AACC conducted a webinar on December 14, 2010 which covered topics ranging from the latest status of key legislative issues for community colleges to a discussion of the expected impacts of the 2010 elections on Congress and our priorities.
On Wednesday, September 8, 2010, the AACC government relations staff hosted a free webinar to recap recent legislative developments and look ahead at what remains on the agenda for September and beyond. Topics discussed included the upcoming RFP for the Community College and Career Training Program, gainful employment regulations, the American Opportunity Tax Credit, the White House community college summit, the education jobs fund, FY 2011 funding for key programs and the DREAM Act.
On July 31, 2012, the AACC government relations team discussed recent developments in Washington that affect community colleges. Topics included funding for Pell Grants and other key programs, Workforce Investment Act reauthorization, the Obama administration's executive order on veteran students, the latest on gainful employment and other regulations, and more.
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Have you heard about the fiscal cliff?
After the November election, Congress will make decisions about the Bush tax cuts, sequestration, and a number of other federal budget related issues. Join the webinar to learn how it could impact health, human services, and early care & education in Ohio.
Paul Howarth, Policy Consultant for Policy in Practice was invited to speak at the Westminster Briefing in November 2019 on the topic of 'Welfare reforms and reducing rent arrears'.
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For further information visit www.policyinpractice.co.uk, call 0330 088 9242 or email hello@policyinpractice.co.uk.
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Policy in Practice present local initiatives to support vulnerable households...Policy in Practice
Policy in Practice present local initiatives to support vulnerable households to the Utility Sector.
-Make your social tariffs accessible through GOV.UK
-Give holistic support to vulnerable consumers
-Use data to provide more targeted support
This presentation was delivered at NADO's 2018 Annual Training Conference, held in Charlotte, NC on October 13-16. For more information, visit: https://www.nado.org/events/2018-annual-training-conference/
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Speaker: Liz Schott
The deficit reduction deal and further decisions made by Congress to reduce the federal deficit have made, and will continue to make, a tremendous impact on low-income housing and homeless assistance programs for many years to come. This workshop will cover the important funding decisions of the past months with an outlook on select programs for the upcoming year and beyond. Presenters will discuss ways in which advocates can make an impact at this incredibly important time to preserve and increase funding for key programs.
The legislature and the administration will be revisiting portions of the approved two-year state budget this spring.
This “mid-biennium” budget review is sure to mean policy changes that affect health, human services, and early care & education in Ohio.
An overview of the American Recovery and Reinvestment Act presented on April 3, 2009 in Springfield, Illinois. Co-Sponsored by the Illinois Workforce Partnership and the Illinois Department of Commerce and Economic Opportunity.
Tony Ross, president of United Way of Pennsylvania, gave this presentation as part of the PA Budget Town Hall Meeting held in Scranton, PA on March 9, 2012.
Is planning for Long Term Care something that you have been putting off? Maybe never crossed your mind? Take a few minutes to look at "Long Term Care Planning 101" and learn about the three and only three ways to pay for care.
On March 21, the AACC government relations team will provide an overview of issues Congress has been discussing in the first three months of 2012 and what is to come. The team will provide up-to-the-moment information on FY 2013 funding for Pell Grants and other key programs, the second round of TAACCCT program grants, workforce legislation, and more.
The AACC government relations team provided an overview of the year-end action in Congress and a peek into the year ahead. Topics included up-to-the-moment information on FY 2012 funding for Pell Grants and other key programs and the impact of the Budget Control Act now that the Supercommittee has failed to propose a deficit reduction plan. The webinar also covered the latest developments on the American Jobs Act, the Trade Adjustment Assistance Community College and Career Training Program, Department of Education regulations, and more.
Have you heard about the fiscal cliff?
After the November election, Congress will make decisions about the Bush tax cuts, sequestration, and a number of other federal budget related issues. Join the webinar to learn how it could impact health, human services, and early care & education in Ohio.
Paul Howarth, Policy Consultant for Policy in Practice was invited to speak at the Westminster Briefing in November 2019 on the topic of 'Welfare reforms and reducing rent arrears'.
This presentation provided a detailed look of the current benefits system, a forecast of the latest Universal Credit updates as well as an overview of Policy in Practice's data-led approach to tackling poverty and reducing rent arrears.
For further information visit www.policyinpractice.co.uk, call 0330 088 9242 or email hello@policyinpractice.co.uk.
Advocacy Interest Group Inaugural MeetingAcademyHealth
The inaugural meeting of AcademyHealth's newest Interest Group (IG), the Advocacy IG, was hosted on June 25, 2012 at the AcademyHealth Annual Research Meeting. Unique to AcademyHealth, this IG cultivates grassroots efforts to communicate the value of health services research to those in both the public and private sectors.
Policy in Practice present local initiatives to support vulnerable households...Policy in Practice
Policy in Practice present local initiatives to support vulnerable households to the Utility Sector.
-Make your social tariffs accessible through GOV.UK
-Give holistic support to vulnerable consumers
-Use data to provide more targeted support
This presentation was delivered at NADO's 2018 Annual Training Conference, held in Charlotte, NC on October 13-16. For more information, visit: https://www.nado.org/events/2018-annual-training-conference/
3.8 What’s at Stake: Federal Policy Decisions in 2012 and Beyond
Speaker: Liz Schott
The deficit reduction deal and further decisions made by Congress to reduce the federal deficit have made, and will continue to make, a tremendous impact on low-income housing and homeless assistance programs for many years to come. This workshop will cover the important funding decisions of the past months with an outlook on select programs for the upcoming year and beyond. Presenters will discuss ways in which advocates can make an impact at this incredibly important time to preserve and increase funding for key programs.
The legislature and the administration will be revisiting portions of the approved two-year state budget this spring.
This “mid-biennium” budget review is sure to mean policy changes that affect health, human services, and early care & education in Ohio.
An overview of the American Recovery and Reinvestment Act presented on April 3, 2009 in Springfield, Illinois. Co-Sponsored by the Illinois Workforce Partnership and the Illinois Department of Commerce and Economic Opportunity.
Tony Ross, president of United Way of Pennsylvania, gave this presentation as part of the PA Budget Town Hall Meeting held in Scranton, PA on March 9, 2012.
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This presentation covers national legislative update and state updates specific to employers headquartered in Oregon, Washington, and Montanta. Additionally, we will address recent events including the potential impact of the new tax plan on employee benefits, EEOC wellness rules updates and updates to the ACA.
For further information, please contact The Partners Group:
https://www.tpgrp.com/contact-partner...
For over 35 years The Partners Group has been serving the financial and insurance needs of employers, medical professionals, and successful individuals with services including employee benefits and business consulting, retirement planning, investment services, commercial and individual insurance. We have built our business from the ground up to ensure we are a thriving organization for the next 35 years. Although we have developed a national network and reputation, you can count on our local commitment and service. We deliver through the hard work of over 140 teammates, who tirelessly provide results greater than the sum of our parts. The Partners Group has offices in Portland, Lake Oswego, and Bend OR; Bellevue, WA; and Bozeman, MT. https://www.tpgrp.com
Subscribe to our email list for additional helpful tips:
https://www.tpgrp.com/subscribe/
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My presentation for Big Data Week 2014 (livestreamed from Chicago on 05.06.2014) on how the State of Illinois is using data to drive governmental decisionmaking at the enterprise and individual program levels.
The AACC government relations team's update on what is happening in Washington, with a particular emphasis on the federal funding landscape.
Topics included appropriations legislation for the remainder of FY 2011, the administration's FY 2012 budget and the latest news on other key legislation. These are crucial times for many important community college programs, so register to find out what you need to know to protect your institutions' and students' best interests.
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SENATE WAYS AND MEANS - Overview of HB1700 SD1 (Budget Bill) and the State Financial Plan
Presentation Overview - April 11, 2016
Operating Budget
Capital Improvements Budget
State Financial Plan (on a separate spreadsheet)
Similar to Pension vs 401(k) study by the National Institute on Retirement Security (20)
01062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
In a May 9, 2024 paper, Juri Opitz from the University of Zurich, along with Shira Wein and Nathan Schneider form Georgetown University, discussed the importance of linguistic expertise in natural language processing (NLP) in an era dominated by large language models (LLMs).
The authors explained that while machine translation (MT) previously relied heavily on linguists, the landscape has shifted. “Linguistics is no longer front and center in the way we build NLP systems,” they said. With the emergence of LLMs, which can generate fluent text without the need for specialized modules to handle grammar or semantic coherence, the need for linguistic expertise in NLP is being questioned.
हम आग्रह करते हैं कि जो भी सत्ता में आए, वह संविधान का पालन करे, उसकी रक्षा करे और उसे बनाए रखे।" प्रस्ताव में कुल तीन प्रमुख हस्तक्षेप और उनके तंत्र भी प्रस्तुत किए गए। पहला हस्तक्षेप स्वतंत्र मीडिया को प्रोत्साहित करके, वास्तविकता पर आधारित काउंटर नैरेटिव का निर्माण करके और सत्तारूढ़ सरकार द्वारा नियोजित मनोवैज्ञानिक हेरफेर की रणनीति का मुकाबला करके लोगों द्वारा निर्धारित कथा को बनाए रखना और उस पर कार्यकरना था।
03062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
‘वोटर्स विल मस्ट प्रीवेल’ (मतदाताओं को जीतना होगा) अभियान द्वारा जारी हेल्पलाइन नंबर, 4 जून को सुबह 7 बजे से दोपहर 12 बजे तक मतगणना प्रक्रिया में कहीं भी किसी भी तरह के उल्लंघन की रिपोर्ट करने के लिए खुला रहेगा।
An astonishing, first-of-its-kind, report by the NYT assessing damage in Ukraine. Even if the war ends tomorrow, in many places there will be nothing to go back to.
31052024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
Pension vs 401(k) study by the National Institute on Retirement Security
1. Webinar | Public Pension Resource Guide
Case Studies of State
Pension Plans that
Switched to Defined
Contribution Plans
February 10, 2015
Download at www.nirsonline.org
2. Why We Did this Study
• A misperception exists that DC plans “save money”
when compared with traditional DB pensions.
• However, NIRS’ Still a Better Bang for the Buck
report shows that DB plans are more economically
efficient than DC plans, due to economies of scale.
• A few states have made the switch to DC -- most
recently, Alaska in 2006.
• Enough time has passed since making these
changes to assess what each state has
experienced.
2
3. What We Did
• Case studies of three states: West Virginia, Michigan,
and Alaska.
• Examined the issues in play and impact of plan changes
over time. Specifically:
– Impact of overall demographic changes on system membership;
– Changes in the cost of providing benefits;
– Percent of actuarially required contribution (ARC) made over
time;
– Effect on retirement security of workers impacted by the
change;
– Impact on overall funding level of the plan.
3
4. Key Findings
Overall, certain trends appear common to all three states:
1. Changing from a DB plan to a DC plan did not help an existing
underfunding problem, and, in fact, increased pension plan costs.
2. Workers in the DC plan face increased levels of retirement
insecurity.
3. The best way to address a pension underfunding problem is to
implement a responsible funding policy of making the full annual
required contribution each year, and to evaluate and adjust
assumptions and funding over time, as appropriate.
4
5. 1991 | West Virginia Moves to DC Plan
• In 1991, DB plan closed to new
teachers due to a persistent
underfunding.
• Underfunding was result of years of
the state and school boards failing to
make adequate contributions to the
pension fund.
• New teachers given DC plan only;
current teachers given a one-time
choice to move to the DC plan.
5
6. DB Plan Sees Financial Challenges,
DC Plan Found Inadequate
• By 2005, in the DB plan:
– The pension paid benefits to 27,000 retirees, versus just 18,000
active teachers in the plan.
– The DB plan was funded at just 25%.
• By 2005, in the DC plan:
– The average account balance was less than $42,000.
– Of 1,767 teachers over age 60, only 105 had balances over
$100,000.
• DB plan challenge: The direct result of the “soft freeze” of the pension.
• DC plan challenge: Largely the result of poor investment returns as
compared to the DB plan (1.6% difference.)
6
7. Moving to a DC Plan Changes Plan
Demographics, Can Increase Costs
Generally, when new participants are frozen out of the DB plan
and moved to a DC plan:
• The active population in the DB plan continues to age, so
they will amass a higher average liability as their wages grow.
• At the same time, the number of active members will fall, as
individuals retire.
• This means that the loss of new members to the DC plan
makes it more difficult to finance the unfunded obligations in
the DB plan.
7
8. West Virginia Moves New Hires
Back to DB Plan
• In 2003, a study found that providing equivalent benefits would
be less expensive in the DB than in the DC plan.
• Legislation was passed that, starting in 2005, all new hires would
be put back into the DB plan.
• The state also became more disciplined about funding. On top of
the required contribution:
– Additional contributions of $290 million and $324 million were
made in 2006 and 2007.
– An additional $807 million was contributed from a tobacco
bond securitization.
8
9. West Virginia Becomes More
Disciplined about Funding
• 2006-2007: Additional contributions
and tobacco bond contribution
• Most years from 2003-2013 have
made the full ARC (100%)
9
10. West Virginia Allows Current
Teachers to Opt Back into DB Plan
• In 2008, teachers in DC plan given choice to opt back into DB plan.
• 78.6% (nearly 15,000) chose to switch, including 76% of those under
40 years old:
• Because more younger teachers than expected opted for the switch,
state saved more money than anticipated: $1.2 billion in savings
projected in the first 30 years.
Age Percent Transferred
Under 40 76%
45-64 81%
65-69 69%
70+ 50%
10
11. West Virginia Today: On Its Way to
Full Funding
Today....
• The West Virginia Teachers pension plan continues to improve
financially:
– 58% funded as of July 1, 2013. The funding gap has
narrowed by more than half since reopening the pension.
– Recommended contributions are much more stable: in 2013,
the recommended contribution was lower than in 2010.
– The plan is expected to reach full funding by 2034.
• West Virginia teachers in the DB plan have a much greater
opportunity for retirement security than they would have had
under the DC plan.
11
12. Michigan Moves to DC Plan in 1997
• 1997, Michigan state employees pension
closed to new hires who were put in a DC plan.
• Current employees given a one-time choice to
opt into DC plan.
• DB pension plan was overfunded at 109%.
• State thought it would “save money” by
providing a maximum contribution of 7% of pay
into the DC plan, whereas the accrual cost in
the DB plan was 9.1% of pay.
• However, any cost savings was due to a drastic
benefit reduction in the DC plan.
12
13. Employees in the DC Plan See a
Lower Benefit....
• By 2013, 33,000 current employees were in the DC plan (2/3
of active workers).
• Average DC account balance in 2011 was $50,000.
• For those close to retirement, the average balance was
$123,000. This would provide an annuity of just $8,200 per
year.
• By contrast, the average DB benefit for people currently
retiring is over $20,000 per year.
13
14. ....And It Comes At a Higher Cost
• Assuming a “best case” DC scenario, in which the employee
contributes enough to receive maximum employer contribution.
• After 25 years of service.....
DC Plan DB Plan
Projected
benefit
$1,600 per month
($288,000 at current annuity rates)
$2,050 per month
Total cost 10% of pay
(7% employer + 3% employee)
8% of pay
(DB plan normal cost)
Assume starting wage of $40,000, 2% annual wage increases and 6% net investment DC returns per year.
14
15. Michigan DB Costs Continue to
Increase Due to Freeze
• Since freezing the plan in 1997, the plan has amassed significant
unfunded liability due to:
– Demographic shifts.
– Two large financial market downturns.
– Many years in which the state did not make its full contribution.
1997 2012
Funded level 109% 60.3%
Unfunded
liability
None.
(Excess assets of $734 million)
$6.2 billion
Annual required
contribution
$230 million $611 million
15
16. Michigan Becomes More Disciplined
about Funding
• From 2008 onward, the state has
been more disciplined about
funding.
• Over 80% of ARC paid each year
from 2008 - 2013.
• While the state is more disciplined
about funding, and the DB still
provides a higher benefit at a lower
cost than the DC, the state has not
proposed a switch back, like West
Virginia.
16
17. Alaska Moves to DC Plan in 2006
• In 2005, Alaska adopted legislation that moved all
employees hired after July 1, 2006 into a DC plan.
• The state faced a combined unfunded liability of
$5.7 billion in its two pension plans and health care
trust.
• The unfunded liability was the result of:
– Failure to adequately fund pensions over time
– Stock market declines
– Actuarial errors, which accounted for some $2.5
billion of the unfunded liability. (The state won a
$500 million settlement after suing actuarial
firm.)
• The DC switch was sold as a way to slow down
increasing unfunded liability.
17
18. Alaska Continued to Make
Inadequate Contributions
• The state contributed just 47% and
45% of the ARC to PERS and TRS
in 2005.
• At end of 2006, the total unfunded
liability increased to $6.9 billion.
• The state failed to make the full
contribution in 6 of 8 years from
2006-2013.
18
19. Alaska DB Costs Continue to
Increase After the Freeze
The unfunded liability has more than doubled since
making the DC switch in 2006.
2006 2014
PERS Prior Service Cost 12.4% of pay 24.2% of pay
TRS Prior Service Cost 24.6% of pay 43.5% of pay
Total Unfunded Liability
(PERS, TRS, and health trust)
$5.7 billion $12.4 billion
19
20. Alaska Demographics Continue
to Worsen
20
• In 2005, both pensions had more
active members than retired
beneficiaries.
• By 2013, those trends had flipped:
TRS had 1.8 retirees for every
active, and PERS had 1.4.
• As the demographics worsen, plan
underfunding increases as a
percent of a declining payroll.
21. Alaska Infuses More Cash
Into Pension
• In 2014, the state made an
additional $3 billion in contributions
to reduce the underfunding.
• The law also included a longer
amortization period (30 years) and
shifted more pension cost to
municipalities.
• Bills have been introduced to move
back to a DB plan, but nothing has
moved forward.
21
“I very much was concerned
when we closed our
retirement systems and went
to a defined contribution that
by closing those systems we
were going to find ourselves
in the position we are in
today, which was ultimately
having to step in with a
significant financial bailout.”
-- Representative Mike Hawker
(Anchorage), 2014
22. Conclusions
In West Virginia, Michigan, and Alaska:
• Changing from a DB plan to a DC plan did not help an existing
underfunding problem; opposite effect of increasing pension plan costs.
• Employees under the DC plan face increased levels of retirement
insecurity.
• Best way to address a pension underfunding is to implement a
responsible funding policy of making the full annual required
contribution each year, and to evaluate and adjust assumptions and
funding as appropriate.
• Case studies important tool for policymakers considering changes to
public retirement system.
22