Pensions
Pensions are a critical aspect of financial security for public sector employees, managed by local and state government agencies to ensure long-term retirement benefits. Effective pension management involves balancing the needs of current and future retirees with the fiscal sustainability of the pension funds. This directory provides articles on pensions and related topics like Fiscal Responsibility, which examines the broader financial practices that ensure governments can meet their long-term obligations, including pension liabilities.
The judge ruled the former trooper’s constitutional rights under the Eighth Amendment were violated when he was ordered to lose his pension
Under the revised policy, police and firefighters can retire at age 55 or with 25 years of service, whichever comes first
Firefighters and police officers nearing the 20-year mark will be able to retire early with a reduced pension
By exploring the retirement incomes discrepancy between identical workers, we show that reformed public pensions benefit levels can be comfortable and comparable.
A pre-2005 Deferred Retirement Option Plan covers retirement and paychecks for five years. Accrued vacation led some to receive double pay for much longer.
Our columnist Wayne Winegarden explains why governments need to address the public pensions problem and presents actionable strategies for reform.
Illinois’ highest court overturns a law that would have cut into two of Chicago’s employee retirement accounts, and addressed $8 billion of the city’s $20 billion liability.
Fresno’s public pension plan is the only fully-funded California plan in a state with about $300 billion in combined unfunded liabilities. The city’s plan also has a $289 million surplus.
When the unfunded liability is reallocated from the state to the 92 cities in cost-sharing plans, the liability burden almost doubles
The law enacted is designed to address shortages of full-time teachers in some subjects and substitute teachers
Confronted with a major financial crisis, the Los Angeles City Council voted three years ago to cut retirement benefits for new hires by raising the retirement age and reducing the size of pensions
Chicago’s City Council approved a budget plan with a property tax hike and other fees to close a shortfall and improve the city’s underfunded pension system
The Central States Pension Fund filed an application with the U.S. Department of Treasury seeking approval for a pension rescue plan under the Multiemployer Reform Act of 2014
Preliminary figures for 2014 also point to a lower but still significant shortfall
The strike comes as teachers in Seattle have gone six years without a cost-of-living pay increase
In New Jersey, the local and state unfunded liabilities reached nearly $55 billion last July 2014 - about $40 billion is state pension debt
California’s strong legal protections for public pension benefits limit the state and local governments’ options to address pension challenges
The city’s savings will grow from $4.7 million next year to $17.2 million a year by 2021
One of the subplots of the Illinois budget standoff will take center stage with an attempt by House Democrats to restore legislation to prevent labor unrest
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