Golden Gate Bridge

San Francisco Pension Votes to Engage With Fossil Fuel Companies Over Climate Change; Next Step Could Be Divestment

The Board of the San Francisco Employees’ Retirement System (SFERS) voted Wednesday to begin engaging with the fossil fuel companies in which it invests. The vote opens the door for an eventual vote on divesting from fossil-fuel companies altogether – an idea that is sure to receive mixed reviews from board members and city officials. The pension ...
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New Jersey Pension 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 commission, which he set up in the summer of 2014. Christie acknowledged in mid-2014 that future pension changes would likely mean benefit cuts for workers. Now, we are ...
military

Government Panel Likely to Call For Military Pension Changes

The Military Compensation and Retirement Modernization Commission has spent the last two years drawing up policy proposals to decrease the cost of military benefits, including retirement benefits. The Commission will make the proposals to Congress on Thursday, but people familiar with the report have already been revealing its contents to the USA Today ...
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What Congressional Gridlock Means for Federal Pensions

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 now control both chambers, but that doesn’t mean the gridlock will end. In fact, some observers say that in 2015, the trickle of meaningful bills coming out ...
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Would a “Buyback” Program Help Ease Pennsylvania’s Pension Problems?

Pennsylvania is shouldering $47 billion of pension debt, according to the Governor’s Office, and that figure doesn’t include the unfunded liabilities of the state’s municipal pension systems. No easy solution awaits. But Thomas A. Firey, managing editor of economics journal Regulation, writes on Philly.com that a “buyback” program is worth ...
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Nevada Newspaper: State Pension Needs Disability Reform

The editorial board of the Las Vegas Review-Journal called on lawmakers Tuesday to deal with the “outrageous abuses” it says are plaguing the state’s disability pension system. From the Review-Journal: We know the Public Employees Retirement System of Nevada provides retirement benefits to people who aren’t retired. But did you know the taxpayer-funded ...
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New Congress Likely to Attempt Federal Pension Reform

The New Congress has already proved it has its eye on retirement benefits. But even with lawmakers’ eyes locked on Social Security, there may be federal pension changes coming down the pipeline. Many lawmakers are weighing changes to the federal pension system, and new legislation on that front could surface this year, according to two key committee ...
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Louisiana Approves Probe Into Teacher Pension Debt

Louisiana school board officials on Tuesday signed off on a study that will probe the state’s Teachers Retirement System and the associated costs. The study will be conducted by Louisiana State University and headed by LSU official Jim Richardson. More from the Advocate: The review is supposed to aid a task force of education groups grappling with ...
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Pennsylvania’s Municipal Pension Debt Rising, Says Top State Auditor

Since 2012, the unfunded liabilities of Pennsylvania’s worst-funded municipal pension systems have increased by $1 billion, according to the state’s top auditor. The increase in liabilities comes despite years of rising stock market values. The state’s auditor general says he will “continue to beat this drum” until lawmakers come up with ...
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Chart: Public Workers More Confident in Pensions, 401(k)s Than Social Security, Medicare

A recent survey found that, among all streams of retirement income and benefits, public employees were most confident in their pension and 401(k) benefits; both in terms of being there for them when they retire and being sufficient enough to get them through retirement. People were least confident in Social Security and Medicare. Only a small portion ...
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