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Video: New York Gov. Draws Flak For Teacher Pension Comment

New York Gov. Andrew Cuomo has upset some teachers and their unions after a comment last week about schools being more concerned about keeping pensions intact than improving schools. The comment in question: “We’ve sent thousands of children to schools we knew were failing from an educational point of view. Albany has been too concerned ...
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Emanuel Confident Pension Plan Will Survive Lawsuit

Four unions on Tuesday filed a lawsuit challenging Chicago Mayor Rahm Emanuel’s plan to increase pension contributions for city employees and reduce COLAs. But Emanuel said Thursday he thinks the plan will pass legal muster, in part because he worked with dozens of unions to formulate it. From the Chicago Sun-Times: Two days after four unions followed ...
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Judge Approves Stockton Bankruptcy Plan; Pensions To Be Protected

  A bankruptcy judge on Thursday afternoon approved the bankruptcy plan of Stockton, California. As part of the plan, the pensions of city workers will remain intact. Creditors, on the other hand, will not be so lucky. From the LA Times: A federal bankruptcy judge approved the city of Stockton’s bankruptcy recovery plan, allowing the city to continue ...
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Could Detroit-Style Cuts Come to California?

Pension benefits, once thought safe, now stand on shakier footing than they ever have. Detroit’s citizens live in a state where pensions are protected by the Constitution, but that didn’t matter when a bankruptcy judge ruled that the city could cut worker pensions as part of its bankruptcy restructuring plan. California workers are now wondering ...
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