palm-tree

Jacksonville Pension Reform Hits Another Snag As JEA Says: “Take It Or Leave It”

Jacksonville’s pension reform proposal – if and when it passes – would require the city and public utility company JEA to borrow a combined $240 million. But that aspect of the plan has hit a road bump, and now JEA is telling the city to accept the plan as-is or count JEA out entirely. From the Florida Times-Union: JEA finance and audit committee ...
640px-Flag_of_California.svg

CalPERS Encourages Employers to Make Extra Contributions Now For Long-Term Savings

CalPERS is asking municipalities and other government employers to use any extra money available to boost their contributions to the pension system — a move that is tricky in the present moment for cash-strapped cities but that would yield long-term savings. From CalPensions: CalPERS is encouraging government employers to make extra payments to reduce ...
496px-Canada_blank_map.svg

Unions Speak Out Against Quebec’s Bill 3, Plan Next Moves

Quebec’s controversial pension reform legislation, Bill 3, passed into law last week. The law divvies up responsibility for paying down governments $3.9 billion pension debt 50-50 between employers and employees. As a result, employees now shoulder more of the burden for paying down pension debt in the form of higher contributions. Now, union leaders ...
640px-Flag_of_Illinois.svg

Chicago Suburb, Strapped With Pension Debt, Considers Privatizing Pension System

The Chicago suburb of North Riverside is straddled with pension debt, and it’s not about to get better – since the town hasn’t made its required pension payments, the state will likely withhold sales tax revenue from the suburb starting in 2016. That’s why North Riverside is considering privatizing its fire department – a move that would rid ...
san bern

San Bernardino Sets Aside $10.6 Million To Repay CalPERS

When San Bernardino went bankrupt, it stopped paying its creditors, including its biggest one: CalPERS. It suspended pension payments to the country’s biggest retirement system for a full year – those payments totaled $13.6 million. Now, the debts have come due: San Bernardino will set aside $10.6 million from its budget this fiscal year to pay ...
palm-tree

Jacksonville Pension Reform Bill Faces Obstacles As It Heads To City Council

Jacksonville Mayor Alvin Brown’s pension reform bill is headed to the City Council, where it will be scrutinized and approved by two separate committees. But it won’t be smooth sailing for the bill, as several council members will likely push for unpopular amendments to the measure. The bill aims to improve the funding of the city’s public safety ...
5857709536_81151f8166_z

California Attorney: Bankruptcy “Not a Practical or Desirable” Way To Cut Pensions

Teague Paterson, an attorney from Sacramento specializing in labor law, has penned a column in Monday’s Sacramento Bee in which he explains his position that bankruptcy is “not a practical or desirable” way to cut pension benefits. From the column: Imagine for a moment that you have run into deep financial trouble and have decided to ...
Pennsylvania-quarter

Pennsylvania Lawmaker Speaks Out Against “Irresponsible” Reform Efforts

Pennsylvania Gov. Tom Corbett spent most of his summer traveling the state and touting the need for pension reform. The legislators are now back from their breaks, but pension reform bills continue to gather dust. Republicans have been vocal about Democrat lawmakers’ unwillingness to work with the reform bills currently on the table. Now, one Democratic ...
garbage_truck

Pennsylvania Lawmaker Proposes Trash Tax to Ease Pension Pains

Pennsylvania Governor Tom Corbett has made pension reform a major part of his re-election platform, but has had little luck finding lawmakers to help him push through proposals. One lawmaker put a new idea in the ring Thursday, although it’s probably not what Corbett had in mind. Reported by the Morning Call: State Rep. David Milliard thinks there ...

VIDEO: Pennsylvania Lawmaker Pushes For Hybrid Pension Plan

Republican Rep. Mike Tobash has taken to YouTube to promote his plan for a hybrid pension system in Pennsylvania. The plan was introduced July 2 as House Bill 1353. The group Pennsylvania Needs Pension Reform, which supports the plan and also hosts the above video on its YouTube account, provided a summary of the benefits on its website: What the Plan ...
Privacy Policy | © 2020 Pension360 and © 2014 Policy Data Institute | Site Admin · Entries RSS ·