Voters in San Diego favored moving new employees to plans similar to private-sector 401(k)s. San Jose will force employees to choose between reduced benefits or sharply higher employee contributions to maintain current benefits.
Source: St. Louis Post-Dispatch | Illinois |
June 1, 2012
Illinois legislators left Springfield without passing the sweeping state pension reforms that Gov. Pat Quinn has been demanding all year. Instead, they sent Quinn a gambling expansion bill he doesn’t want.
State law, which went into effect Oct. 1, 2008, allows the attorney general to revoke or reduce the pension of public officials, state or municipal employees convicted of a crime related to their office, but it doesn't apply to officials convicted before that date.
Source: Houston Chronicle | Houston |
May 18, 2012
The city of Houston sued the firefighters pension board in state District Court in an effort to pry open the retirement system's books for a look at supporting data behind the $61 million annual bill it sends to City Hall.
Concerned about Wal-Mart’s reported cover-up of bribery in its Mexico operations, leaders of New York City’s pension funds said they would vote their 4.7 million company shares against five directors standing for re-election to the retailer’s board at its annual shareholder meeting next month.
Source: New Jersey Star-Ledger | New Jersey |
April 30, 2012
A Star-Ledger analysis of sick and vacation time records for lawmakers and other public employees show that politicians can reap generous rewards from the same system they are charged with policing. The payouts also take sizable chunks out of local budgets that are already under duress.
Thousands of public employees across New York State rushed to sign up for pensions over the last several weeks, seeking to lock in generous retirement benefits before cuts approved by the State Legislature took effect on Sunday.