Pension Cuts Kick In For Detroit Retirees
As part of Detroit’s bankruptcy proceedings, the city’s pensioners agreed to stomach some benefit cuts in order to ward off potentially steeper cuts.
Those cuts kicked in on Sunday, ...
More Details on New Jersey Pension Changes As Commission Release Report; Proposal Would Bring Savings to State, Cuts to Workers
New Jersey Gov. Chris Christie unveiled a series of pension reform proposals at his budget address yesterday.
But he’s taking his cues from a just-released report from his pension ...
Documents: Illinois Gov. Rauner’s Budget Will Recommend Pension Cuts
Illinois Gov. Bruce Rauner will give his budget address on Wednesday afternoon. He’ll announce a number of cost-cutting proposals, and pensions are sure to be featured.
What specifically ...
White House: Obama “Open” To Tying Social Security COLAs to Chained CPI
The White House announced this week that President Obama is open to discussing a major change in the way the growth of Social Security benefits are calculated.
Obama is willing to ...
What Does Congressional Gridlock Mean for Federal Pensions? It Might Be Good News For Workers
Gridlock has become the new norm in Congress. The last two Congressional sessions (112th and 113th) were arguably the two least-productive sessions in the history of the country.
Republicans ...
Think Tank Says New Jersey Pension Benefits Not That Lucrative
One of the criticisms leveled at New Jersey and its underfunded pension system – and one of the main justifications used to cuts in worker benefits – is that New Jersey’s public ...
Many Rhode Island Retirees Will Have COLAs Unfrozen For First Time in Four Years
One of the pillars of Rhode Island’s sweeping 2011 pension reform law was the suspension of annual cost-of-living-adjustments for retirees.
According to the Civic Federation, the ...
Jacksonville Will Vote On Pension Reform Measure This Week. Here’s What To Expect If It Passes
After months of debate, the Jacksonville City Council could approve this week a measure to reduce the city’s pension debt.
The legislation would increase city contributions to the ...
Jacksonville Pension Reform Plan, Likely to Pass, Could Pare Back Benefits Further Than Originally Thought
After months of debate, the Jacksonville City Council is as close as ever to passing an oft-amended pension reform bill.
The bill originally was designed to force the city to pay higher ...
Oklahoma Labor Group Calls For COLAs To Be Un-Frozen In Wake of Pension Funding Improvement
Since 2010, the aggregate funding ratio of Oklahoma’s state-level pension systems has risen from 58 percent to 74 percent. Meanwhile, unfunded liabilities have declined by over $6 ...