Union representatives testified in March in favor of cities paying 26.5% of the salaries of officers and firefighters – up from 19.5% for police and 24% for fire
Retired Capt. Mike Earley was given a year to live in May; five months later, the New York City Employees’ Retirement System has not approved his application
Amid public sector worker shortages, a new report from the National Institute on Retirement reveals just how crucial pensions are for recruiting and retaining firefighters, law enforcement officers, teachers and other critical public service roles.
Mayor Lori Lightfoot's challenge is steep: close an $838 million budget deficit while also appeasing the striking Chicago Teachers Union. Chicago public schools have been closed for five days, affecting 300,000 students.
U.S. Conference of Mayors voted in support of the Diverse Asset Managers Initiative, which advocates that public pensions be managed by diverse groups.
The Mossavar-Rahmani Center for Business and Government at Harvard University studies what could happen to pension funds in 10 states under various economic scenarios.
Municipalities in danger of bankruptcy can be resurrected. Pittsburgh turned deficits to surpluses, cut costs and created standards for best financial practices to get released from state oversight.