Gov. Andrew Cuomo's proposal to let municipalities short their pension payments for the next quarter century uses fuzzy math, writes Governing's Jonathan Walters.
Source: Milwaukee Journal Sentinel | Wisconsin |
January 22, 2013
A federal court of appeals upheld Wisconsin's law repealing most collective bargaining for most public employees, handing a victory to Gov. Scott Walker and his fellow Republicans who put the law in place amid tumult two years ago.
Source: Chicago Tribune | Chicago |
January 21, 2013
Mayor Rahm Emanuel said he was asking all city pension funds -- and mayors across the country -- to examine whether they have investments in assault weapons manufacturers and sellers as the first step toward getting them to divest any such holdings.
Los Angeles Mayor Antonio Villaraigosa said that he has asked the city's three pension funds to review all investments and work to end those in companies that manufacture assault weapons.
Source: Chicago Tribune | Illinois |
January 14, 2013
The state now has an outlook known as "rating watch negative," which could make it more expensive for the state to borrow money. Only California is below Illinois among states on this rating firm's list.
Source: Chicago Tribune | Illinois |
January 9, 2013
State lawmakers bequeathed the government worker pension problem to the next General Assembly, rejecting Gov. Pat Quinn's roundly criticized "Hail Mary" plan to ask a committee to fix the worst-in-the-nation retirement system.
Rhode Island's capital city is addressing the fiscally crippling problems with its retirement system. Can Illinois find the political will to do the same?
Source: Chicago Tribune | Illinois |
January 7, 2013
With time running short in the lame-duck session, state lawmakers on Sunday dropped hot-button issues dealing with guns and marijuana but kept alive hopes of reforming pensions.
Six months after Georgia enacted a law meant to attract more startups by allowing the state’s pension plans to invest in them, few plans have actually taken advantage, according to an Atlanta Journal Constitution report.
Source: Atlanta Journal-Constitution | Georgia |
January 2, 2013
Earlier this year, lawmakers gave the go-ahead for Georgia’s public pensions to start putting money into start-up ventures and other “alternative” investments, ending the state's status as the last that detoured most of its big pension plans for state, county and city employees around such investments.
Source: The Washington Post | Nation |
December 27, 2012
The expiring Bush tax cuts aren’t the only laws worth watching for investors as the year ends. A number of new rules are kicking in next year that will allow workers to stash away more money in their 401(k)s and individual retirement accounts.
Nationally, six straight years of revenue declines have put enormous pressure on state and local governments, nevertheless, some are thriving. Standard & Poor's, the credit-rating agency, reports that it issued more bond upgrades than downgrades in 2012.
The Medicaid expansion and the Affordable Care Act are in full swing. With the influx of people who will be applying for benefits and the ACA requirement for online enrollment, it is more important than ever to verify the identities of those accessing benefits up front.