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17 Matching News Items

1.  Businesses in Las Vegas Handcuffed by Healthcare Costs
Las Vegas Review-Journal Link to more items from this source
Jan. 3, 2003
Excerpt: Sprint executive [Ned Holland] complained about a 'medical arms race' where hospitals compete for the best doctors by purchasing the latest equipment or 'toys' ... Holland believes the result is overbuilding by hospitals that then charge higher fees to recover higher costs.
2.  Bill to Change Nevada Public Retirement System to 401(k) Type Retirement Plan for Newly Hired Employees Being Drafted
Las Vegas Review-Journal Link to more items from this source
Dec. 16, 2008
Excerpt: [Public Employees Retirement System] benefits average $27,692 per year. Both state Sens. Bill Raggio, R-Reno, and Bob Coffin, D-Las Vegas, told Bilyeu that Nevada faces severe budget problems and steps must be taken to reduce state contributions. They questioned whether the system would save on benefit costs by increasing the retirement age to 65. That might well save money, Bilyeu said, but state and federal laws prevent any reductions in benefits -- including increasing the retirement age -- to existing participants in PERS.
3.  Millions in the Red, Nevada Obamacare Insurer Has Failed
Las Vegas Review-Journal Link to more items from this source
Aug. 26, 2015
"Nevada Health CO-OP, which launched in 2012 with two federal loans totaling $65.9 million, will shutter its operation and will not offer coverage for 2016. Coverage for all current plans will remain good until Dec. 31, and members will be able to sign up with other carriers for Jan. 1 coverage when open enrollment begins in November."
4.  Is a Fully Insured Defined Benefit Plan Right for Your Company?
Las Vegas Review-Journal Link to more items from this source
Sept. 10, 2014
"Employers find 412(e)(3) Plans so attractive because they avoid the complications commonly associated with traditional defined benefit plans. For example, no enrolled actuary's certification is needed; there are no required quarterly contributions; there is no full funding limitation applied that might limit contributions; and administrative costs are generally lower."
5.  Some Nevadans May See Higher Premiums Under Obamacare
Las Vegas Review-Journal Link to more items from this source
May 13, 2013
"The benchmark doesn't mean every Nevadan must buy point-of-service coverage through Health Plan of Nevada, but it does mean every insurance carrier's individual plan must meet those coverage levels. So, whether they need it or not, Nevadans buying individual policies will be covered for maternity care, mental health services, infertility treatments, home health, bariatric surgery, chiropractic care and hearing aids."
6.  Pension Politics: CalPERS Plays Hardball in Court
Las Vegas Review-Journal Link to more items from this source
Dec. 24, 2012
"[I]f the city can't pay CalPERS, the fund's attorneys argue, the pension fund can use state police powers to collect its money through asset or property seizure.... Credit rating agencies report that states and local governments nationwide have more than $2 trillion in unfunded pension liabilities. In Nevada, depending on how you measure risk, that figure is between $10 billion and $40 billion. Elected officials everywhere, at every level, have promised far more in employee retirement benefits than taxpayers can afford. And those funds -- and their unionized beneficiaries -- want these promises kept at all cost."
7.  New Nevada State Senate Minority Leader Urges Funding Changes to Public Pension System
Las Vegas Review-Journal Link to more items from this source
Nov. 18, 2010
Excerpt: Largely because of a stock market crash in 2007 and other declines over the past decade, PERS' investment earnings have fallen short of expectations. The agency faces an unfunded liability estimated at $10 billion as of June 30. To cover all current and future pensions, PERS eventually needs to increase its investment income or have employees and state and local governments contribute additional revenue.
8.  Nevada State Employees Oppose Effort to Trim or Eliminate Pension
Las Vegas Review-Journal Link to more items from this source
Apr. 7, 2009
Excerpt: The so-called SAGE Commission unanimously recommended: That the retirement age for most government workers be raised to 60, and 35 years of service be required to qualify for early retirement with a lower pension; that pensions be calculated from base pay only; that the calculation formula itself be changed to reduce costs; and that the new provisions apply only to employees hired after January 2010.
9.  IRS Puts Off Implementation of Retirement Age Regulation for Public Plans
Las Vegas Review-Journal Link to more items from this source
Oct. 14, 2008
Excerpt: The IRS has delayed the implementation of regulations that soon could have affected the early retirement plans of thousands of Nevada state and local government employees. The federal agency issued a bulletin on Friday delaying the 'normal retirement age' regulations for government pensions until fiscal year 2011-12. The IRS initially planned to adopt the rules for public pension plans in 2009-10.
10.  NCPERS Responds to Editorial Attack on Public Employee Defined Benefit Plans
National Conference on Public Employee Retirement Systems [NCPERS] Link to more items from this source
Sept. 24, 2008
Excerpt: The Las Vegas Review-Journal [on September 23, 2008] wrote an editorial calling for the elimination of defined benefits for future public employees and increasing the age at which public employees may retire. To view NCPERS' response, [see http://ncpers.org/News/PageText/documents/LVRJ_Response092308.pdf].
11.  IRS Plan Could Eliminate Public Employee Early Retirement Options
Las Vegas Review-Journal Link to more items from this source
Sept. 23, 2008
Excerpt: A major change proposed by the IRS for public pension plans, including Nevada's public employee retirement system, could eliminate early retirement pay for government employees in less than two years. A new regulation the agency is pursuing would prohibit most public pension plans from allowing participants to retire and collect benefits earlier than age 55, with a preferred retirement age of 62. This would cover everyone from teachers to police to city and state workers in Nevada and across the country.
12.  Baby Boomers Come Face to Face with America's Faltering Economy
Las Vegas Review-Journal Link to more items from this source
Sept. 21, 2008
Excerpt: For retirement-minded boomers, the current economic slowdown -- not to mention last week's dizzying stock market -- couldn't have come at a worse time. And, for boomers who haven't saved as much as they should have or would have liked to, it's serving as one very stark wake-up call.
13.  Nevada's Public Employees Retirement System Billions in Debt, According to Study
Las Vegas Review-Journal Link to more items from this source
Sept. 9, 2008
Excerpt: The pension plan, which the study said is 'among the nation's most favorable public employee retirement systems,' provides a $37,380 annual pension to general government workers earning annual salaries of $50,000 who retire today after 30 years on the job. Those hired since 2001 would receive the same benefit if they retire after working 28 years.
14.  Nevada Legislative Panel OKs Benefits Expansion for Domestic Partners
Las Vegas Review-Journal Link to more items from this source
Aug. 27, 2008
Excerpt: A regulation that makes it state policy to provide health care insurance benefits to domestic partners of state employees -- including those of the same sex -- was adopted Tuesday by a legislative subcommittee on a 3-2 vote.
15.  Father of 401(k) Plans Thinks Latest Savings Rage -- the Roth 401(k) -- Is Overrated
Las Vegas Review-Journal Link to more items from this source
Oct. 7, 2005
Excerpt: The man who is credited with inventing the 401(k) plan isn't very impressed with the latest twist on the 25-year-old retirement program. Roth 401(k) plans will let workers save part of their taxable wages so they won't owe any taxes when they withdraw the funds after retirement. But Ted Benna, who designed the first 401(k), doesn't 'consider it personally to be a very big deal (even though) it's going to get a lot of press.'
16.  Nevada Assembly Panel Supports Health Insurance Program for Workers at Small Companies, Others
Las Vegas Review-Journal Link to more items from this source
Apr. 4, 2005
Excerpt: A bill to use existing tax revenue to fund health insurance policies for low-income pregnant women and employees of small companies won unanimous committee approval Wednesday. The Assembly Commerce and Labor Committee backed Assembly Bill 493, which allocates money for health insurance policies for 2,500 pregnant women and provides $100-a-month subsidies on policies for 2,000 employees who work for companies with fewer than 50 workers.
17.  Editorial: Congressmen and Social Security. Members Do Participate, But Have Pension Plan Also
Las Vegas Review-Journal Link to more items from this source
Sept. 2, 2004
Excerpt: Sen. Harry Reid, D-Nev., took exception to part of our editorial on Social Security that appeared here Tuesday. ..., 'Members of Congress do indeed pay into the Social Security system,' a member of the senator's staff noted this week.

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