The nation's largest public pension fund lowered its forecast Wednesday for investment returns and asked the state of California, school districts and local governments to increase contributions — a move that could siphon more money from basic services.
Groups representing Michigan's public and private retirees continued to push their opposition to a new pension tax policy approved this year, threatening political repercussions in the next election for legislators who supported the tax.
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.