New Orleans

New Orleans Can Sue Pension Board for Mismanagement, Says High Court

In 2014, New Orleans argued before a circuit court that it shouldn’t have to pay down the debt of its Firefighters’ pension fund, because the shortfall was caused by bad investments. The circuit court rejected that argument. But now, the state Supreme Court says the city can indeed sue the pension fund’s board of trustees for mismanagement of ...
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Former Jacksonville Mayor Calls for Tax Increase to Fund Pension Reform

Former Jacksonville mayor and current city Chamber president John Delaney said Monday that a tax increase is likely the best way to fund the city’s pension reform measure. The city has been weighing a pension reform bill for months, and one of the points of debate has been the source of funding for the measure. Current Mayor Alvin Brown’s plan ...
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New Jersey May Be Working Up Proposal to Merge Municipal, State Pensions

The leader of a group that represents New Jersey’s municipalities is warning mayors that state officials may try to merge state and municipal pension systems. Bill Dressel, the executive director of the New Jersey State League of Municipalities, says the state is working on such a proposal in an attempt to improve the health of the state’s pension ...
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Judge in New Jersey Pension Trial Calls State Pension Contributions a “False Promise”

The judge presiding over the legal battle between New Jersey and its public workers said last week that the state’s 2011 pension reform law was a “false promise”. The law required the state to contribute a set amount of money annually to the pension system. But Christie slashed those payments last year. The judge, Mary Jacobson, wondered why ...
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The Impact of Cincinnati’s Pension Reform Deal

Cincinnati’s pension deal, struck last week, is widely considered to be a true compromise: no one is particularly happy with the outcome and every party made sacrifices as part of the bargain. But how exactly does the deal affect the benefits of retirees and current employees? A quick refresher on the main points of the deal, from Cincinatti.com: * ...
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