640px-Flag-map_of_Pennsylvania.svg

Pennsylvania Lawmaker Will Reintroduce Plan to Create 401(k) System for All New Public Employees

Pennsylvania State Rep. Warren Kampf says he will be reintroducing a bill that would significantly alter the states pension system. The bill would create two new defined-contribution plans: one for state employees and one for school district employees. All future state hires would be funneled into these 401(k)-style plans. In other words, the bill ...
496px-Canada_blank_map.svg

Examining an Insider’s View of Canada’s Pension Debate

Last month, the Toronto Star interviewed Tom Reid of Sun Life to get an insider’s view of Canada’s pension debate. The interview can be read here. This week, Leo Kolivakis of the Pension Pulse blog penned his own critical examination of the debate. The post can be read below. ____________________________________ By Leo Kolivakis, Pension Pulse Indeed, ...
Bruce_Rauner_August_2014

Questions Surround Bruce Rauner’s Pension Proposal, But Rauner To Be Mum on Specifics Until Court Ruling

Illinois’ pension reform law currently sits in legal limbo. But if the Supreme Court deems it unconstitutional, all eyes will shift to Illinois Gov. Bruce Rauner, who will need to propose a new solution to the state’s pension woes. On the campaign trail, Rauner supported a plan to shift workers into a 401(K)-style plan. He has since softened his ...
431px-US_Capitol_dome_Jan_2006

In Congress, Leadership Shifts Could Lead to Retirement Plan Changes

Republicans control both houses of Congress, and there are many leadership shifts underway at the committee level as well. These shifts open the door for changes to retirement plans coming from the federal level. One idea sure to be brought up is Senator Orrin Hatch’s SAFE Retirement Act. From Pensions and Investments: At the committee level, the ...
2oa1txl3

Memphis Council Approves Hybrid Pension Plan; Changes Will Affect Many Current Workers

After several meetings worth of debate, the Memphis City Council passed major changes to the city’s pension system on Tuesday – and the changes won’t just affect new hires. Details of the new hybrid plan, reported by Fox Memphis: Council passed a hybrid plan that was backed by Councilwoman Wanda Halbert that grandfathers in current employees ...
2oa1txl3

Memphis City Council To Vote on Competing Pension Reform Measures

After postponing a vote earlier this month, the Memphis City Council will vote on two competing pension reform measures at their last meeting of the year Tuesday. Memphis Mayor A.C. Wharton Jr. drew up one of the measures; an alternative to that measure is being proposed by a council member. Details of the measures from Memphis Daily News: Memphis ...
Bruce_Rauner_August_2014

Bruce Rauner Named Most Important Player in U.S. Pensions

Institutional Investor magazine has released its list of the 40 most influential people in U.S. pensions. Topping the list is the man who now governs a state with one of the worst pension problems in the country: Bruce Rauner. From Institutional Investor: Republican Bruce Rauner, the victor over Democratic incumbent Pat Quinn in the recent Illinois ...
savings-jar

Why Have Local Governments Been Slow to Adopt Automatic Enrollment Practices?

As defined-benefit plans around the country become more costly, some local governments have begun switching new hires into defined-contribution (DC) plans. But those same governments have been slow to adopt automatic enrollment practices, according to a report published in the November issue of Pension Benefits. From the article: The public sector ...
savings-jar

When Given A Choice, Why Do People Choose DC Plans Over DB Plans?

In many states, newly hired public employees are faced with a choice: enrollment in a traditional defined-benefit plan, or a 401(k)-style defined-contribution plan. What drives the decision-making of those who choose DC plans? Scott J. Weisbenner and Jeffrey R. Brown examined the topic in a recent paper in the Journal of Public Economics. They studied ...
120px-Seal_of_Utah.svg

Video: Lessons From Pension Reform in Utah

In the video above, former Utah senator Dan Liljenquist talks about the pension reform efforts he sponsored in Utah from 2008-2011 and what other states can learn from those efforts. Liljenquist sponsored bills that ended “double-dipping” in the state, moved new hires into a defined-contribution plan and ended pension benefits for Utah ...
Privacy Policy | © 2020 Pension360 and © 2014 Policy Data Institute | Site Admin · Entries RSS ·