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Ratings Agencies Express Concern Over Maryland Pension Debt, But Uphold Rating

The major ratings agencies all upheld Maryland’s AAA bond rating this week. But all three agencies expressed concern over the state’s pension debt. S&P in particular warned that pension liabilities, if not addressed, could lead to a rating downgrade in the future. From the Maryland Reporter: Fitch Ratings and Moody’s Investor Services call ...
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Former NJ Official: Christie Used Misdirection on Pension Payments in State of State Address

During his State of the State address last month, New Jersey Gov. Chris Christie made a few remarks defending himself against accusations of short-changing the state’s pension system. He claimed that he had contributed more to the pension system than any governor in New Jersey history. That’s not a false statement. But it also doesn’t tell the ...
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Virginia Governor Proposes Extra $150 Million Payment to Pension System This Year

Virginia Gov. Terry McAuliffe wants to put an extra $150 million in the state’s teacher retirement fund this year in a bid to reduce the state’s pension contributions in future years. The extra money would also reduce future pension payments from school districts. From the Richmond Times-Dispatch: The proposed payment to the teacher fund would ...
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Kansas Pension Officials: State’s Plan to Delay Pension Payments Could Cost Billions in Long-Run

Kansas Gov. Sam Brownback in December diverted a $58 million payment from the pension system and used the money to plug holes in the state’s general budget. The governor is seeking to delay more state payments to the pension fund, and is also looking to offset some of the costs by issuing pension obligation bonds. But pension officials told lawmakers ...
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Do Pension Plans Give Retirees a False Sense of Retirement Security?

At one time, pensions were seen as the safest, most secure stream of retirement income. But the security of pension benefits is no longer rock-solid. That raises the question: do pensions give retirees a false sense of retirement security? Economist Allison Schrager explores the idea: Until recently, a pension benefit seemed as good as money in the ...
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