We trust our public employees with taxpayers’ dollars, public resources and essential services -- but does any of that mean they’ll make the right choice for their own retirement?
Miami city commissioners, who in recent years have cut severance pay and pensions to balance budgets, could vote Tuesday to allow four of the city's highest earners to return from retirement and collect their pension on top of their hefty salary.
No longer just concerned with saving the state's underfunded pension system money, reform efforts now seek to stop allowing interlopers who aren't state workers into the taxpayer-supported retirement systems.
A pension reform bill that would have moved new state workers and teachers into a 401K plan and blocked them from enrolling in the state pension system, failed in the Florida senate. Several Republicans joined the Democratic minority to defeat the measure 22-18.
Under an unusual arrangement dating back to 1948, information about the Boston-area transit agency's pension system doesn't have to be made public. That may soon change, and it ought to.
Moody’s Investors Service announced its highly anticipated new ratings rules, which could result in downgrades for dozens of cities and school districts.
Source: Newark Star-Ledger | New Jersey |
April 15, 2013
While local pension costs will grow in the new state budget, the bill would be $540 million higher without reforms that forced public employees to pick up a greater share of the pension costs and stopped cost of living adjustment for retirees.
Kentucky’s pension reform signed into law this month marks a positive step but should not be heralded as a cure-all to the state’s massive underfunding problem, a major ratings agency said Friday.
New York’s new law to allow some cities to defer pension payments would increase their unfunded pension liabilities and could hurt their credit outlook.
Most states and many municipalities have passed some kind of pension reform in recent years, but only a few did so in a way that addresses the immediate unfunded liability of their plans. Plus: Has pension reform gone too far?
Fraud is on the rise. There is evidence that fraud has permeated virtually every government-based benefit program at the state, local and federal level. The federal government estimates that three to five percent of public assistance dollars are lost each year to fraud, and tax related identity fraud has grown 650% since 2008.
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