News Archives

CalPERS Lost Almost $67 Billion — More Than 25% of Its Value — In Past 12 Months

Pennsylvania’s Public Employee Pension Issue Is a Ticking Time Bomb (editorial - Republican & Herald)

New Study Addresses Pension Risk Management Gaps

Disappearing Pensions in Private Sector Make Lives Less Secure

Obama’s Tax Plan Would Increase Social Security Deficit by Billions (editorial - Union-Tribune)

US Cannot Honor Long-Term Social Security and Medicare Promises (op-ed)

October 13, 2008

IRS Rule Change on ‘Normal’ Retirement Age Delayed Until 2011

Alaska’s Public Employee Pension Funds to Issue Up to $5 Billion in Bonds to Cut $8 Billion Deficit

America’s Next Major Financial Hurdle: Retired Government Employee Health Plan Deficits

Pension Contributions for New York State’s New Hires Must Be Reinstated (editorial - Daily News)

The Market Has Temporarily Killed Philadelphia’s Pension Obligation Bond (editorial - Daily News)

Bust for Boomers About to Retire in Private Sector

Comments on the Subprime Mortgage Crisis and the Credit Meltdown (blog - PensionWatch)

Municipal Bond Investors Kept in Dark as Finances Unravel

Time Works Against Presidential Candidates on Social Security, Medicare Fixes

October 10, 2008

Tough Times Get Tougher for States’ Public Employee Pension Funds

Public Pension Fund Industry Urges Calm in Face of Economic Downturn

Insurance Industry Joins Banking Giants on the Hot Seat

Hang in There, Retirement Investors! (column - Girard Miller)

October 9, 2008

Taxpayer Bailout of California’s State and Local Public Employee Pension Funds Feared

Massachusetts Pension Fund Pounded, Loses $8 Billion

Time to Defuse Pennsylvania’s Public Employee Pension Bomb (editorial - Times-Tribune)

Evanston, Illinois Faces $3 Million Budget Gap Along With $140 Million Pension Deficit

Revisit New York’s ‘Stunningly Large’ Public Employee Pension Benefits (editorial - Buffalo News)

New York Strips Four More Private Attorneys of Public Pensions

October 8, 2008

Loan Request a Harbinger of Coming Raid on CalPERS, CalSTRS (blog)

Social Security Still Needs to Be Privatized (column)

It’s Time for a ‘Blunt Budget Ax’ in Massachusetts (column)

Montgomery County, Maryland’s School System Cannot Afford to Pay Scheduled Pay Raises

Most Pensions Are Safe, but Defined-Benefit Plans’ Days Are Probably Numbered (column)

New York City’s Unions Warn of a Fight if Mayor Tries to Trim Pensions

New York’s Double-Dipper Pension Bill Goes to Governor for Signature

Private Sector Boomers May Have to Continue Working; Public Employees Will Retire and Collect Juicy Benefits (blog)

Americans’ Retirement Accounts Have Lost $2 Trillion So Far, Says Head of Congressional Budget Office

Read the Testimony of the Director of the Congressional Budget Office (pdf)

US Senators Propose Bill Requiring Employers to Disclose Health Insurance Costs

Retirees Flee Stocks to Save Shrinking Nest Eggs

October 7, 2008

Cash-Strapped California Looks for Help to Its Pension Funds — CalPERS and CalSTRS

Fed May See Corporations and State and Local Governments as Next Crisis Fronts

New York State Needs to Revisit High-Ticket Public Employee Pensions (editorial - Buffalo News)

Why Social Security Is a Loser for Police and Firefighters (editorial - PolicePay.net)

Teachers in Michigan Picket to Hang on to Gold-Plated Health Benefits (editorial - Detroit News)

Colorado’s Public Employee Retirement Plan Feeling Financial Pinch

With Mail Volume Down, US Postal Service May Lay Off Workers

Iceland Turns to Pension Funds for Help in Rescuing Its Banking System

October 6, 2008

Escalating Public Employee Pension Costs in El Cajon and La Mesa Are Behind Proposed Sales Tax Increases (editorial - Union-Tribune)

El Cajon and La Mesa, California Seek Sales Tax Increases to Deal With Deficits

Could CalPERS Help California’s Cash Crunch?

UPDATE: Could CalPERS Help With California’s Cash Crunch? Maybe.

Share of California Cities’ Budgets Going to Pensions and Benefits Has Doubled in Last 8 Years

Non-Government Agency in San Gabriel Valley Participating in CalPERS

Public Employee Pension Liability Is Constraining Massachusetts (op-ed)

Evanston, Illinois’ Pension Advisory Committee Preparing Final Report on $140 Million Fund Deficit

Read the Report of the Evanston, Illinois Blue Ribbon Pension Committee (pdf)

Stamford, Connecticut’s Employee Pension Funds Take $56.7 Million Hit

New Perk for Public Employees in Loudoun County, Virginia: $5000 Grants to Buy Foreclosed Homes

St. Louis, Missouri Firefighters’ Pension Fund Forecast to Lose $23 Million

Market Decline Jeopardizes Private Sector Pensions; Defined-Benefit Plans on Way Out

Retirees in Massachusetts Struggle to Make Ends Meet

Italy’s Prime Minister Says ‘Basta!’ to Do-Nothing Public Employees

October 3, 2008

Short-Sellers Profit From States’ and Cities’ Financial Struggles; Pension Promises Re-Evaluated

‘Extraordinary’ Police and Firefighter Pensions Are Bankrupting Stratford, Connecticut

Santa Rosa, California Looks at Cutbacks as 75% of Budget Goes to Employee Compensation

Los Angeles Pension Official’s Retirement Bash Raises Ethical Questions

University of California Workers, Not Just Taxpayers, Must Chip in on Pensions (editorial - Union-Tribune)

Ontario, Canada Teachers’ Group Alters Pension Fund Formula in Effort to Eliminate $12.7 Billion Deficit

Credit Woes Convulse Plans of Massachusetts Cities and Towns and Their Pension Funds

Texas State Senator Questions Cost of Pension Fund’s New $750-An-Hour Legal Counsel

Attorney Sues New York State and Nassau County to Get Six-Figure Public Pension Restored

New Jersey State Worker, Retiree Health Benefits Not as Costly as Predicted, Says Governor’s Report

Chicago Transit Authority’s Boss Wants to Hang Onto Police Pension

October 2, 2008

CalPERS Loses $24.9 Billion But Stays Strong, Analysts Say

CalPERS, CalSTRS Say They Remain Sound Amid Wall Street Woes

Stockton, California Budget Deficit Solution Requires Police, Fire Cooperation (editorial - Record)

Contra Costa County, California Pitched on Switching Employees to CalPERS’ Health Plan

San Luis Obispo, California Faces $4.8 Million Budget Shortfall After Cops’ 30% Pay Raise

Atlanta, Georgia’s Pension Hole Is $64 Million Deeper

Wayne County, Michigan Has Unfunded Liability of $1.9 Billion for Retiree Health Care (editorial - Detroit News)

Privatization of Chicago’s Midway Airport Could Yield $450 Million for City’s Pension Funds (editorial - Sun-Times)

Ex-Wife Gets the Last Word on Massachusetts State Trooper Hubby (column)

Free Parking Perk Comes to an End for Public Employees in Indianapolis, Indiana

Estonia Is Running Short of Pension Money

Putin’s Pension Talk Scares Russian Businesses

October 1, 2008

Pension Tension: Waiting for the IRS to Talk About ‘Normal Retirement Age’ Rule Changes (blog)

Fearing for Pensions, Americans Prod Lawmakers to Act on Economy

CalPERS Gambles, Loses — Again (column)

Money Not the Motive for Many to Work Until Age 67

Ontario, Canada’s Teachers Take Pension Cutback to Help Eliminate $12.7 Billion Deficit

WaMu Employees Try to Tally Stock Losses, Pension Uncertain

Wal-Mart Expands Worker Health Benefits

World Economic Forum Offers Scenarios for the Future of Pensions in a Rapidly Ageing World (release)

VIDEO: The Future of Pensions and Healthcare in a Rapidly Ageing World - Scenarios to 2030

September 30, 2008

Pension Industry Worldwide Is Struggling to Evaluate Consequences of Bailout Bill’s Failure

Financial Crisis Shock Waves Reach Municipalities

Wachovia Deal Hits Large Public Pension Plans, Including CalPERS’ 8.3 Million Shares

Administrative Bloat in the Los Angeles Unified School District (editorial - Daily News)

More on Pension Spiking in Fullerton, California (blog)

California Govenor Signs Three Pension-Related Bills Into Law

Gilroy, California School Superintendent Rewarded by Board With Unusual $12,000 Bonus

$700 Billion Bailout? You Ain’t Seen Nothin’ Compared to $41 Trillion Unfunded Social Security and Medicare Costs (op-ed)

Wisconsin’s Local Governments Face $6 Billion Unfunded Liability for Retiree Health Care (subscription)

New Jersey Pension Reform Bill Signed by Governor Will Save $150 Million in 14 Years, He Says

New Jersey Pension Reform Bill Was Needed (editorial - Courier-Post)

Very Little Pension Reform in New Jersey’s Pension Reform Bill (blog)

Rhode Island State Employees’ Union Rebuffed by Court in Attempt to Block Benefits Change

Cincinnati, Ohio May Reduce Retired City Workers’ Health Benefits, Increase Retirement Age

Disabled Vets Forced to Battle Social Security for Benefits

National Financial Crisis Extra Worrisome to Those in Retirement

September 29, 2008

Is Bankruptcy an Option for Gary, Indiana? City’s Financial Picture Appears More Dire Than Vallejo, California’s

Is IRS Retirement Rule Change for Public Employees in Trouble? (newsblog)

Los Angeles Teachers Union Threatens Strike Over Pay and Request for Contributions to Health Costs

Washington Mutual Failure Hits CalPERS and Pension Funds in Los Angeles and San Francisco

Erie, Pennsylvania’s Public Employee Pension Costs Will Jump $1.5 Million for 2009

Nevada’s Elected Officials Must Fix Its Public Employee Pension System (column)

Overtime Spiking Pays Big Pension Dividends When Some Western New York Police Officers Retire

New York State’s Police Chiefs Share Inflated Pensions With Rank-And-File Officers

What Is a Fair Pension? (editorial - PolicePay.net)

Would Knox County, Tennessee’s Credit Rating Have Improved With an Unfunded Pension Plan on Its Books? (column)

New Jersey’s Governor to Sign Pension and Benefits Reform Bill

Number of Rhode Island State Workers Opting for Retirement Soars

Pensioners Revolt Against Trustees of Public Pension Funds in Illinois and Pennsylvania

Testimony of the PBGC Director on 9/24/08 Before the House Ways and Means Subcommittee on Oversight

US Presidential Candidates in Tight Race Over Whose State Has Worse Performing Pension Fund

FASB Postpones Pension Fund Disclosure Rule for a Year

September 27, 2008

Pacific Grove, California to Vote on Withdrawing From CalPERS

CalPERS Could Be Strained by Manhattan Real Estate Investment

Keep on Spiking Those Pensions — Please! (editorial rebuttal - PolicePay.net)

New OPEB Strategies After the Market Meltdown (column)

L.A. Department of Water and Power’s Fat Raises Seem Like a Joke, But They’re for Real (editorial - Daily News)

Pay and Benefits for Tulare County, California’s Board of Supervisors Is Third-Highest in San Joaquin Valley

Unions Lose to Massachusetts Governor on Police Details at Road Construction Sites

Long Island Rail Road Disability Pension Epidemic Calls for Independent Oversight (letter)

Pension Funds Face Significant Losses, But Won’t Be Bailed Out

With Attention Focused on $700 Billion Bailout, House Sneaks Through $25 Billion Loan Package for Auto Industry

Teamsters Union Seeks Pension Protections From Congress in Bailout

Municipalities Also Find Credit Is Scarce

September 26, 2008

Retirement Benefits Are Out of Control for Public Employees in Santa Cruz County, California (column)

A Ground Rule: Put Vallejo Residents’ Interests First (editorial - Times Herald)

California State-Employed CPA Analyzes IRS Pension Rule (newsblog)

Dysfunctional California (column)

Public Employee Pensions Are Endangered by State Officials Playing Global Warming Politics, Report Says (release)

Read the Report ‘Pensions in Peril: Are State Officials Risking Public Employee Retirement Benefits by Playing Global Warming Politics?’

New York’s State Comptroller Targets Public Pension Cheats

Part-Time Officials in Brick Township, New Jersey Shouldn’t Get Full-Time Benefits (letter)

Delphi to Send $3.4 Billion Worth of Pension Obligations to GM

September 25, 2008

Public Pension Panic in Maryland: Public Employees Must Take Control of Their Financial Destinies (editorial - Baltimore Examiner)

Only 3% of California’s State Employees Are Working Past Age 65 (column)

Girding for Benefits Battles: Get Ready for Tougher Labor Negotiations Ahead (column)

California’s Public Employee Unions Are Fighting Public Disclosure (blog)

City of Vallejo, California and Its Three Unions Work on Ground Rules for New Negotiations

Vallejo Police Compensation Tops Independent Pay Survey

Pacifica, California Council Candidates Address Employee Pension Funding at Forum

New York’s MTA Chief Calls for Reform of Federal Railroad Workers’ Pension System

North Carolina’s Treasurer Willing to Lend State’s Pension Money to Federal Bailout Fund

New Hampshire Public Employee Pension Fund Takes an $800 Million Hit

New Jersey Voters Should Seize Power Over Any New State Debt (editorial - Courier-News)

Texas Attorney General Calls for Transparent, Accountable Pension Funds

Texas Attorney General Warns of $20 Billion Threat to Pension Funds

Texas Attorney General Launches Website on Public Employee Pension Information

Worcester, Massachusetts Council Opposes Income Tax Repeal

Pensions of Five Companies Involved in Mortgage Crisis Underfunded by $400 Million, Says PBGC Chief

Private Sector Workers Pay More for Less Health Care Coverage

Survey Says Private Sector Workers’ Family Health-Care Deductibles Jump 29%

Declines in Assets Force Baby Boomer Generation in Private Sector to Delay Retirement

Philippine WWII Veterans Seek Pension Equality From US Government

September 24, 2008

If Union Takes Over College District in Orange County, California, Taxpayers Will Be in Trouble (column)

Nevada’s Growing Pay-As-You-Go Retiree Health Benefits Threaten Other Programs, Report Says

Teacher Pension Pinch in Maryland (editorial - Baltimore Sun)

New Jersey Panel Rejects Raising Drug Co-Pay for Retired Teachers

School Districts Nationwide Assess Impact of Financial Turmoil on Pensions and Projects

State and Local Officials Seek Help for Medicaid, Evaluate Pension Fund Losses

Maine Website Maineopengov.org Lists Pay and Pension Info of State and School Employees

New Website Glassdoor.com Makes Corporate Salaries More Transparent

Sharp Rise in Employee Health Costs in Store for Next Year (blog)

Federal Bankruptcy Judge Okays Delphi’s Motion to Freeze Pension Plans

Retirement-Minded Baby Boomers Come Face to Face With America’s Faltering Economy

September 23, 2008

The IRS May Become the Taxpayers’ Ally in Reforming Public Employee Pensions (editorial - Las Vegas Review-Journal)

Read the Henderson Memo Outlining the Proposed IRS Regulation Regarding Public Employee Pensions (pdf)

San Bernardino County, California Funneling Public Records Requests Through Unions

Alton, Illinois Police Pension Fund Sues City for Under-Funding Account

Small Law Firms Plunge Into Public Pension Fray

Farmingon, Minnesota School Board Considers $12 Million Bond Sale to Cover Retirees’ Health Benefits

Minnesota Public Sector Facing Wave of Retirements

Retirees Filling the Front Line in Market Fears

To Retire Comfortably, It All Boils Down to Time

September 22, 2008

New IRS Rule Would Eliminate Early Retirement Pay for Government Employees

Stock Dive Hurts State Pension Funds, Budgets

Why Pension Spiking Has to Stop — Now (editorial - PolicePay.net)

Unions Want to Keep Sweetheart Contracts in Vallejo, California (blog)

Rhode Island Pension Commission Looks for Ways to Stop Costs From Soaring

New York Governor Authorizes Investigation of Disability Pension Abuse at Long Island Rail Road

Employee Benefits Helped Contribute to Auto Makers’ Need for a Bailout (blog)

Private Sector Consumers Cut Health Care Spending as Economic Downturn Takes Toll

Families Are Bearing More Retirement Risk (column)

September 21, 2008

Redding, California’s Employees Need to Contribute to Their Pensions to Help Fix City’s Budget (column)

Minnesota’s Employees May Be Forced to Contribute More to Their Pensions Because of Fund’s Losses

All US Taxpayers Will Pay for Rampant Disability Pension Fraud Among Long Island Rail Road Retirees

Look at North Dakota Employees’ Total Compensation, Not Just Pay (editorial - Grand Forks Herald)

September 20, 2008

California’s Budget Problems Tied Partly to Pension Boosts Granted in ‘99 (op-ed)

Why 100% Under-Funding of Pensions Is Best for Everyone (editorial - PolicePay.net)

Pay-As-You-Go Pensions (100% Under-Funding) Would Be a Fiscal Disaster (rebuttal - PolicePay.net)

Vallejo, California’s Bankruptcy Puts Municipal Bond Market Investors, Police on Edge

Vallejo’s Public Employee Unions Moving to Appeal Court’s Bankruptcy Decision

Read the Appeal by Vallejo’s Employee Unions (pdf)

Cook County, Illinois to Borrow $3.75 Billion; Part Will Be Used for Pension, Health Costs

Montgomery County, Maryland’s Police Disabiity Pensions Need Reform (editorial - Washington Post)

Carbon County, Pennsylvania’s Pension Fund Reels Along With Wall Street

September 19, 2008

University of California Regents Revive Employee Pension Contributions

Chula Vista, California’s Path to Insolvency Aided by Pay, Pension Increases (column)

CalSTRS Leads Big Pension Funds Against Aggressive Short-Sales Tactics

Retired Mendocino County, California Employees to Pay More for Health Insurance

After GASB 45: Report Says Many States Considering Limits on Future Retiree Health Cost Subsidies

Great Neck, New York Water Official Decides Not to Double-Dip Pension and Salary

New Jersey Workers Upset With Pension Fund Investments

PBGC Takes on $7.3 Million Pension Liability of Bankrupt Rand McNally & Co.

Fannie, Freddie, Then Social Security? (column)

September 18, 2008

San Diego, California City Attorney Criticizes Pension Fund (newsblog)

Free Lifetime Health Benefits Can Be Permanent for Council Members in Thousand Oaks, California

University of California Workers Want Larger Role in Governing Pension Plan

AIG to Return $138 Million of Rhode Island’s Pension Funds

Cook County, Illinois Considers Issuing $3.75 Billion in Bonds (newsblog)

Livingston County, Michigan Looking at Offering Employee Buyouts to Balance Budget

Milwaukee County, Wisconsin’s Pension Fund Drops 6.4% Since Start of Year

Winds of Change Blowing in Washington DC and on Beacon Hill, Massachusetts (column)

Lehman Staff in UK Set to Lose Pensions

September 17, 2008

Tomorrow’s Local Government Pension Crisis Is Here (blog)

Orange County Supervisor Moorlach Comments on $1 Million Legal Bill in Pension Battle (blog)

Pension System Is Also in Turnmoil (column)

Rhode Island’s Pension Fund Has Lost $1 Billion Since the Beginning of the Year

Unfortunately, Pension Reform Is Vital to Nevada’s Health (column)

Panel Recommends Raising North Dakota Government Workers’ Pay, Keeping Free Health Benefits

Massachusetts Governor Should Hang Tough on Police Details Reform (editorial - Daily News Tribune)

New York City and State Brace for Greater Demands on Diminishing Resources

Wisconsin Officials Say State, Local Pension Funds Safe From Trouble

No Golden Parachutes for Political Cronies in Detroit (editorial - Detroit News)

Teacher Retirement System of Texas Takes a Hit on Lehman Brother’s Stock Holdings

Money Market Fund Says Customers Could Lose Money

September 16, 2008

Fixing Public Pensions in California (editorial - Long Beach Press-Telegram)

CalPERS, CalSTRS Downplay Lehman Brothers’ News

Wall Street’s Dive Hurts Sacramento, California Area

Pension Promises Made by US State Governments Will Grow to Approximately $7.9 Trillion in 15 Years, Says Study

Mutual and Pension Funds to Lose Billions on Lehman Collapse

Pension Funds, Municipalities Will Also Be Victims of Lehman Fallout (blog)

Omaha, Nebraska’s Pension Funds Hit Hard as Markets Tumble

New Mexico Retiree Health Care Program Will Be Insolvent by 2020; Has Unfunded Liability of $4.1 Billion

Deduction for Retiree Health Benefits Riles Teachers in Clark County, Nevada

Lawyer in the Middle of New York’s Pension Scandal Rehired by School Districts

September 15, 2008

Taxpayers Need Better Information About Pension Promises to Public Employees (editorial - Washington Post)

California’s Public Unions Owe Their Members More Than Bluster (column)

Some Former Portsmouth, Virginia Employees Irked by Pension Cut

Retirement Funding for Educators Fuels Fiscal Crunch in Missouri and Kansas

West Virginia County School Systems, State at Odds Over Retiree Health Liability

Pay Raises for Columbus, Ohio’s Staff Called ‘Excessive’ by Some Council Members

Massachusetts Police Unions Rush to Protect Lucrative Road Construction Details, Undermining Reform Effort

Detroit Mayor Signs Over State Pension in Plea Deal

Connecticut Pension Fund Loses $50 Million in Fannie, Freddie Takeover

Health Costs Are Easing for Employers Because Burden Is Being Shifted to Workers

Lehman in Bankruptcy; Merrill to Be Sold; A.i.g. Struggles

September 13, 2008

The Pension Time Bomb (blog)

Philadelphia, Pennsylvania Faces $450 Million Shortfall Over 5 Years, Mayor Says; Pension Bonds Put on Hold

New Mexico’s Pension Funds Suffered More Than $2 Billion in Losses During Past Year

New Jersey Pension Fund Lost $50 Million on Lehman Brothers

GM Absorbs $3.4 Billion of Delphi Pension Debt

Web 2.0 Challenges Notions of Public and Private Information

September 12, 2008

The Pension Crisis, George Will’s Column, and Orange County, California’s Pension Lawsuit (blog)

Cease-Fire in Vallejo, California? Unions Now Ready to Negotiate With City

Lake Elsinore, California School District Considers OPEB Bonds

Morris County, New Jersey Considering Layoffs Due to Increased Pension, Health Costs

Pension Funds Seek Payback for Fannie Mae and Freddie Mac Losses

Hedge Fund Glory Days Fading Fast; Pension Funds Pull Back on Investments

September 11, 2008

Pension Time Bomb (column by George Will)

Pension Plans Need Advice on Hedge Funds, Says GAO

Read the GAO Report on Pension Plans Needing Advice on Hedge Funds (pdf)

September 10, 2008

Orange County, California Sanitation District Chief Voted a $43,443 Pay Raise (editorial - Orange County Register)

Federal Deficit More Than Double Last Year’s, Estimates Say

Nevada’s $6.3 Billion Pension Deficit Demands Immediate, Wholesale Changes (editorial - Las Vegas Review-Journal)

Springfield, Missouri City Manager to Seek Sales Tax to Solve $140 Million Pension Shortfall

Cobb County, Georgia to Change Its Pension Formula to Deal With $115 Million Unfunded Liability

September 9, 2008

Pension Spiking Will Cost Californians (op-ed)

Study Says Nevada’s ‘Rolls-Royce’ Pension Plan Is a Drain on State and Local Resources

CHART: Nevada’s Retirement Benefits Compared to Other States

Pension Fund Obligations Threaten to Drown Taxpayers (editorial - Las Vegas Review-Journal)

Federal Court Says Vallejo, California Is Officially Bankrupt

Vallejo, California Decision Delayed 3 Month; Police and Fire Granted Stay of Execution (editorial - Policepay.net)

Video Clips of Council Meetings Play Role in Vallejo, California’s Bankruptcy Hearing

Governor Should Veto Vision Care Perk California Legislators Gave Themselves (editorial - Sacramento Bee)

California Correctional Officers’ Union to Launch Recall of Governor Schwarzenegger

San Diego City Attorney’s Pension Battle Gets National Notice

Mayor of Pittsburgh, Pennsylvania Pitches Pension Reform

September 8, 2008

Fullerton, California Councilman Gets Kudos From Orange County Supervisor on Pension Boost Disclosure (newsletter)

San Diego’s Pension Brawl (editorial - Wall Street Journal)

Taxpayers Take on Trillions in Risk in Federal Takeover of Fannie Mae and Freddie Mac

Jacksonville, Florida’s Police and Firefighters Won’t Give Up Defined-Benefit Pensions Despite $534 Million Shortfall

Rutherford County, Tennessee Rethinks Plan to Increase Retirees’ Health-Care Premiums

Making Public Salaries Sane in New Jersey (column)

Divestment From ‘Terror Stocks’ May Not Be Good Business for Pension Funds (column)

Traditional Corporate Pensions Are Losing Popularity (column)

Helping the Masses Build Nest Eggs (column)

September 7, 2008

Orange County, California’s Retirement Fund Lost $300 Million in June (newsblog)

Visalia, California Councilman to Become Double-Dipper at Cal State Fullerton

Vallejo and Union Officials Look Ahead to Continued Negotiations

Public Pension Accounting Changes Could Cost Taxpayers More Money (editorial - Watertown Daily Times)

Sangamon County, Illinois Sweetens Severance Deal to Cut Work Force

Open New York’s Pension Fund Options (op-Ed)

New Study Says Defined-Benefit Pension Is a Huge Contributor to Financial Security

Alabama Citizen Activist Group Files Suit Over Jefferson County Debt

Taxpayers to Bail Out Fannie Mae and Freddie Mac

Freddie-Fannie Bailout Just the Start of ‘Once-In-A-Century Crisis’ (Q&A)

Wall Street: a Con Game in Pinstripes (column)

Magic, Mumbo-Jumbo Were Used to Sell Muniland Swaps to Public Officials (column)

Mccain, Obama Split Over Social Security

September 6, 2008

Judge Rules Vallejo, California Meets Bankruptcy Requirements

Why Defined Contribution Pensions Are Best for Employees (blog)

Sonoma County, California Safety Officers Battle on Benefits

Calstrs Continues Talks About Investing in Tobacco Companies (blog)

Illinois State Employees to Get 15.25% Raise, No Increase in Health Payments

West Virginia Attorney General Stays Out of School Health Benefit Accounting Debate

New York Governor Vetoes Bill Forbidding Cities From Making Retiree Health Care Spending Cuts

Kent County, Delaware Discusses Switching County’s Pension Plan Funds

September 5, 2008

Fullerton, California Council Members Criticize Newspaper’s Columns on Pension Boost (blog - PensionWatch)

Proposed Actuarial Changes Could Force Increased Contributions by Governments to Their Pension Plans

Health Care Costs for Small Firms Expected to Rise Again Next Year; Many Expected to Dump Benefits (blog)

Cobb County, Georgia’s Employee Pension Plan Under-Funded by $115 Million

Mehlville, Missouri Firefighters Only Interested in Litigation, Not Negotiation, Over Pension Plan Change (editorial - Icall)

Needed: a Lawsuit on Duluth, Minnesota’s Retiree Benefits (column)

Farmington, Minnesota School District Told to Share Superintendent’s Contract Details

Zionsville, Indiana Cops Get Pension Boost

New York to Lower Employer Contribution to Public Pension Funds

Public Salaries and Benefits Are What’s Really Hurting New Yorkers’ Wallets (column)

Another Attorney Removed From Pension System in Nassau County, New York

Rhode Island Seeks Limits on Medicaid Spending

Wall Street Weighs Jefferson County, Alabama’s Debt Offer

Taxpayers Would Be on the Hook for Failure of FDIC or PBGC

Crunch Hits Complex Pension Investments in Uk

September 4, 2008

CalPERS Moves to Have Its Say on Orange County, California’s Pension Lawsuit

California’s Attorney General Doesn’t Understand Pension Lawsuit, Says Orange County Supervisor Moorlach (blog - PensionWatch)

California Attorney General Defends His Involvement in Orange County Deputy Pension Case (newsblog)

Suspense!!! — Vallejo Awaits Bankruptcy Decision (blog)

Lessons to Be Learned by Davis and Other California Cities From the Bankruptcy of Vallejo (blog)

Are Pension Funds Drifting Towards Disaster? (blog)

Stockton, California Must Do Something ‘And Fast’ to Fix Budget Problems (editorial - Record)

Clovis, California Police Are Giving Back Wages and Benefits to Help With City’s Budget Gap

Firefighters in Clinton Township, Michigan Could Drain Pension Fund

Study Finds That Workers in Private Sector Will Pay More for Health Care as Employers Pass on Costs

September 3, 2008

CalPERS Wants a Voice in the Pension Fight in Orange County, California

California’A Attorney General Joins Fight Over Orange County Deputies’ Pensions

California Attorney General Takes Orange County Deputies’ Side in Pension Fight

How Local New York Lawmakers Are Ignoring Constituents’ Pleas on High Taxes (op-ed)

September 2, 2008

San Diego/City: Bonuses Beefed Up Development Authority Executives’ Retirement Accounts

Vallejo, California Bankruptcy Ruling Imminent

Pension Reforms Delayed in New Jersey (column)

New Jersey Governor’s Sympathies Misplaced in Delayed Pension Bill Signing (editorial - Press of Atlantic City)

New Jersey’s Governor Must Sign Pension Bill (letter)

What Bankruptcy Would Mean to Jefferson County, Alabama

September 1, 2008

Unionizing Silicon Valley (editorial - EcoWorld)

How Unions Hurt Many Workers (op-ed)

Concerns This Labor Day (column)

Escondido, California School District to Look at Options to Cover $17.9 Million OPEB Liability

Illinois Legislators Are Irked Because They Have No Say in Labor Negotiations, Yet Have to Pay

Pittsburgh’s Mayor Can Can Chalk Up Some Successes, but Pension Fund Is Still Short $569 Million

Evanston, Illinois Pension Committee Still Working on Report on $145 Million Shortfall

New Jersey Governor Hurts Taxpayers by Not Signing Pension Reform Legislation (editorial - Star-Ledger)

Blame New Jersey’s Governor for Not Yet Signing Pension Reform Bill (editorial - Daily Record)

Alabama OKs Health Care Fee for Obese Public Employees

Iowa’s Pension Fund Loses 1.3%, Has Long-Term Shortfall of $2 Billion

Indiana Police Officers Injured in the Line of Duty Often Have Trouble Collecting Disability Pensions

High Cost of Health Care Takes Toll on Retirees in Private Sector

Laboring Longer Is a Growing Trend for Americans in the Private Sector

GM Offers More Early Retirement Buyouts

Reprieve From Brink of Bankruptcy for Jefferson County, Alabama

Regulators and Industry Spar Over Meaning of ‘Swap’

Social Security Is Unsustainable (op-ed)

Social Security Increases Poverty (column)

August 29, 2008

San Diego/City: Moody’s Upgrades City’s Credit Rating to ‘Stable’

Orange County Sanitation District Manager’s Pay Hike Raises a Bit of a Stink

CalPERS, AFSCME Criticize Oracle CEO Larry Ellison’s $72-Million Pay Package

New Jersey Governor’s Delay in Signing Reform Bill Means Thousands of New Teachers Will Receive Fatter Pensions

Newington, Connecticut Police Retirees Sue Over Reduced Benefits

It’s Payback Time for Portland, Oregon’s Pension Fund (editorial - Oregonian)

Texas Legislator Expresses Concern About Pension Fund’s New Legal Adviser

Workers’ Retirement Assets Shrink at Fannie and Freddie

Absenteeism Among Public Employees in Italy Is a Plague

August 28, 2008

Scathing Audit Blasts San Jose, California Retirement Boards Over Travel Expenses

Sheriff’s Deputies Still Racking Up Excessive Overtime in Orange County, California

Two Americas: Private Sector Gets Zilch and the Public Sector Filches (column)

Illinois’ State AFSCME Members Get 15.2% Raise, but Will Not Pay More Toward Pensions

CalPERS, Other Large Pension Funds Watch Fannie Mae and Freddie Mac

ALCOA, Retirees in Court Battle Over Change in Health Benefits

Norwegian Parliament’s Generous Pension Plans May Be Scrapped

August 27, 2008

Fullerton, California City Employees’ Pension Plan Stirs Controversy

Pension-Spiking Schemes in Orange County, California (editorial - Press-Telegram)

Police, Fire Gaps in Barstow, California Are Self-Inflicted Wounds (editorial - Desert Dispatch)

Lawyer at Center of New York Pension Probe Must Pay Back $83,624

New York’s Comptroller Says Attorney’s Pension Was Improper; $600,000 Must Be Repaid

Police ‘Deserve’ High Pay and Pensions — Firefighters Do Not (blog - Pensionwatch)

Changes Are Coming to Idaho Retirees’ Health Benefits Due to $477 Million Liability and GASB 45 (with video)

Idaho’s Private Sector Employers Are Offering Fewer Health Benefits

Rhode Island Pension Reform Commission to Meet Today (blog)

Pensions in Jacksonville: Buy Now, Pay Later (editorial - Florida Times-Union)

Washoe County, Nevada’s Union Employees to Receive Raises, Offsetting Higher Pension Costs

Jefferson County, Alabama Begins Preparing a Plan for Bankruptcy

Deal Shifts GM Pensions to Delphi; Retirees Fear Its Default

Boeing Drops Defined-Contribution Pension Proposal in Union Talks

Boeing’s Costly Pension Breakthrough

Goodyear Retiree Trust-Fund Plan Is a Healthy Deal (editorial - Akron Beacon Journal)

August 26, 2008

San Marcos, California School District Moves Forward on $54 Million OPEB Bond Plan

Most of California’s Budgetary Ills Can Be Traced to the Inordinate Political Power of Its Public Employee Unions (column)

Tyrone, Georgia’s Finance Director Says Town Is ‘Broke’

Springfield, Missouri Can’t Invest Its Way Out of Its $140 Million Pension Shortfall, Says New City Manager

Live Report From Springfield, Missouri’s Police-Fire Pension Crisis Briefing (blog)

Vallejo, Califonia Blocks Employees’ Ability to Comment on Political Blogs

California’s Treasurer to Speak at Conference in San Francisco on Pension Fund ‘Mission Related’ Investing (press release)

New Jersey Pensions Can Go, Don’t You Know? (blog)

Double-Dipping Could Be Eased by School District Consolidations (editorial - Buffalo News)

Jefferson County, Alabama: Swaps Money Train Prepares for Final Run in Muniland (column)

Pension Expert Discusses the ‘New Retirement’ (interview)

Could PBGC Be Yet Another Taxpayer Bailout on the Horizon? (blog)

Private Sector Retirees Deserve Benefits They Earned (op-ed)

Pension Aristocrats in the UK: Top Plans for Public Employees Boom While Private Sector Plans ‘Face Extinction’

EU Pension Timebomb Ticks as Population Ages

August 25, 2008

California’s Brown Act and the Letter vs. the Spirit of the Law in Fullerton (blog)

Are Santa Ana, California’s City Council Members Dumber Than Worms? (blog)

San Marcos, California School Board to Sell $54 Million in OPEB Bonds

Nassau County, New York Tightens Requirements for Lifetime Health Benefits; Current Liability Is $3.4 Billion

Chattanooga, Tennessee’s Fire-Police Pension Fund Closer to Resolution of $62-95 Million Shortfall

Albert Lea, Minnesota School District to Issue $6.1 Million Bond to Cover Retiree Health Costs

New Jersey Pension Reform Measure Still on Governor’s Desk

Illinois Playing ‘Catch-Up’ on Underfunded Teachers’ Pension Plan

Teacher, Administrative Salaries on the Rise in Illinois

West Virginia Lawmakers Await Update From Teacher Pension Move

Federal Judge Approves Goodyear Health Care Trust (VEBA)

Commodities: Second Chance for Pension Funds? (column)

Budget Transparency Problems Are Identified in 50-State Survey; California, Illinois Among Worst

Social Security on Ice (editorial - Washington Post)

August 24, 2008

Worms on Fullerton and Santa Ana City Councils Make Taxpayers Squirm (column)

Contra Costa County’s Sheriff’s Deputies Want to Sweeten Pension Deal With a DROP (column)

Question of Whether Vallejo, California Can File for Bankruptcy Is Now in Judge’s Hands

Vallejo Mayor’s Gag Order Assaults Rights of Employees, Citizens (editorial - Times-Herald)

Stockton, California Must Weigh Its Deficit; Police Pay Raise a Concern (editorial - Record)

Unions in Modesto, California Are Not Pushing Too Hard for Raises in Tough Economic Climate

Former California Prison Guard Gets 7-Year Prison Sentence for Pension Fraud

Pension Deficit Disorder (column)

Needed: Stronger Opeb Laws (column)

Omaha, Nebraska’s Police-Firefighter Pension Fund Has Shortfall of $354 Million

Simple Fact Is That Gary, Indiana Has Too Many Employees (column)

Can Illinois Cities Afford to Keep Paying Pensions?

Rhode Island Must Address Its Financial Nightmare (op-ed)

Chicago’s Mayor and Most Aldermen Skip Unpaid Furlough Days (newsblog)

Allentown, Pennsylvania’s Mayor Needs Help Fixing Pension Mess (op-ed)

New Jersey Court OK’s Plan to Invest $9 Billion of Public Pension Money in Hedge Funds

Bankruptcy Option Now Being Considered for Jefferson County, Alabama

Country’s Obligations Total $53 Trillion Including Social Security, Medicare (transcript - scroll down)

Report Says Medicare May Have Paid $2.8 Billion in Improper or Fake Claims (editorial - Wall Street Journal)

Social Security Won’t Save Baby Boomers (column)

Report Says 2.8 Million Hours of Work Are Lost Each Year Because Federal Employees Are AWOL (with video)

Conventions for Democrats and Republicans Getting $34 Million Taxpayer Subsidy (with video)

August 22, 2008

Ongoing Looting: That’s What Local Government in SoCal Often Amounts To (blog)

Fullerton, California Pension-Spiking Gets National Attention (blog)

New Documentary I.O.U.S.A. Helps Us Comprehend Our $9.5 Trillion Debt (blog - PensionWatch)

Vallejo, California’s Bankruptcy Plea Stays Alive

Vallejo Workers Told to Keep Quiet Over Bankruptcy (with video)

Bill to Open CalPERS to Private Sector Looks Dead — At Least for This Year

Judge Dismisses San Diego Police Officers’ Overtime Claims

Boston’s ‘Disabled’ Bodybuilding Firefighter Loses Bid to Be Reinstated

Extra Pounds Will Mean Insurance Fees for Alabama’s State Employees

Texas’ Top Leaders Want Pension Funds to Invest in Highway Construction

Profit Without Risk for the PBGC? Not Likely (column)

When Pensions and Teachers Collide (editorial - Los Angeles Times)

August 21, 2008

Fullerton, California’s Dirty Little Secret Retro-Pension (column - Girard Miller)

Pensions in Fullerton: Political Expediency Impels Politicians to Hide Their Pension and Benefit Boosting (op-ed)

Fullerton City Council Lectures on Brown Act, Chastises Pro-Taxpayer Councilman (blog)

Ventura, California’s Firefighters Get Pension Boost to 3%-at-55

Ventura ‘Not Going Bankrupt’ Over Public Employee Pensions, Says City Manager (blog)

Public Money Has No Accountability in Grass Valley, California (letter)

A Tax Revolt Is Quietly Brewing in Some States

West Virginia School Systems Grapple With Reporting of GASB 45 Unfunded Liabilities

Nevada’s Pension Fund Loses 3.4%

New York Revokes Pension of Prominent Garden City Lawyer

A Pension Tsunami Is About to Destroy Retirement as We Know It (column)

Court Ruling on Cash-Balance Plans a Partial Win for Both Sides

Social Security Reform Oversights (op-ed)

I.O.U. Social Security (letter)

We Can’t Tax Our Way Out of the Entitlement Crisis (op-ed)

August 20, 2008

Fullerton, California’s Pension Saga Highlights Rampant Fleecing of the Public (editorial - Los Angeles Daily News)

Economic Downturn Takes a Toll on California and San Francisco Pension Systems

Unions Seek Dismissal of Vallejo, California’s Bankruptcy Plea

The Imperfect 401(k) (editorial - Long Beach Press-Telegram)

Sonoma County, California Ro Reduce Health Benefit Subsidies for Current and Retired Employees

School Districts in North San Diego County, California Look at Cutting OPEBs

Pacific Grove, California Puts Pension Change Issue on November Ballot

Kalamazoo County, Michigan Votes to Raise Retirement Age for Its Employees to 65

White Bear Lake, Minnesota School District to Issue $40 Million OPEB Bond

Portland, Oregon’s Public Safety Pension Fund Overpays $3.1 Million in Benefits to 940 Police and Fire Retirees

Report on Status of Local Governments’ GASB 45 Compliance Issued

PBGC to Shift Money Into Riskier Assets; United Airlines Employees Take Note (column)

GM Canada’s Pension Fund Faces $5 Billion Shortfall

August 19, 2008

Fullerton, California Places Pension Boost on the City Council Meeting Agenda — Sorta (blog - PensionWatch)

Pension Spiking All the Rage in Santa Ana and Fullerton, California (blog)

City Survey Must Compare Las Vegas Workers’ Compensation to Private Sector’s (editorial - Review-Journal)

Debate on Changes to Employee Health Benefits Is Today in Sonoma County, California

Did CalPERS Cave in to the Engineers’ Union? (blog)

CalPERS to Invest in California’s Infrastructure

The Pros and Cons of CalPERS’ Investments in Infrastructure (blog)

Chicago Aldermen Urged to Give Up Pay Hike, Lead by Example in Tough Times

North Carolina Pension Fund Drops 2%

Let Texas Governments Buy Annuities, Says Lawmaker Who Sells Them

China’s Impending Catastrophe Is Its Shrinking, Aging Population (column)

August 18, 2008

Pensions and Ethics in Fullerton, California (editorial - Long Beach Press-Telegram)

Benefits Raise Public Employee Costs Way Above Average in Contra Costa County, California (column)

Cooking California’s Books (op-ed)

Government Workers Union Backs Candidates in Sonoma County, California Supervisors’ Race

Vallejo, California’s Bankruptcy Case Proves Time-Consuming

Government Employee Benefits Are Best (column)

Market Losses and Retirements Leave Pittsburgh, Pennsylvania’s Pension Fund 37% Funded

Target of Milwaukee County’s Pension Lawsuit Over ‘Backdrop’ Benefit Blames Milwaukee Law Firm

CalPERS Supplants Stocks With Apollo Funds Amid Rising Defaults

Alternative Investments: Are Pension Funds Taking a Dangerous Leap of Faith? (blog)

Anti-Double-Dipping Measure Proposed for Hoboken, New Jersey City Council Is Sent to Committee

Kentucky State Worker Retirements Are Running Below Projections, Making Layoffs a Possibility (column)

How New Jersey’s Pension Fund Handles Risk From Its High Profile Stakes in Merrill Lynch, Citigroup, and Lehman

GAO Says PBGC Has Understated the Risks of Its New Investment Policy

August 17, 2008

The City of Fullerton, California vs. Open Government (editorial - Orange County Register)

Watch Out for the Wrecking Ball, Kaleefornya (column)

Atlanta Georgia May Form Task Force to Tackle $1 Billion Pension Liability Crisis

Public Employee Pensions Are Biggest Contributor to Need for Tax Hike in Macomb County, Michigan

Slidell, Louisiana Changes Health Benefits for New Hires to Deal With $40 Million OPEB Liability

Key Figure in Milwaukee County, Wisconsin ‘Backdrop’ Pension Scandal Dies

Alabama’s Jefferson County Is on Brink of Biggest Municipal Bankruptcy in US History

1,000 Chicago Workers Face Layoffs Due to $400 Million Budget Deficit, Says Mayor’s Adviser

When It Comes to Layoffs in Chicago, Everybody Is a Target — Including Cops and Firefighters

152 Chicago City Employees Opt for Retirement Buyout

Cook County, Illinois Workers Got 8% Raise Last Year, Leading to Sales Tax Hike

August 16, 2008

Santa Ana, California City Council Planning to Boost Employee Pensions Despite Deficit (blog)

What Would Senator Everett Dirksen Say About Today’s Government Spending in New Jersey? (editorial - the Citizen)

25% of New Jersey Public Employee Pension Checks Are Sent Out of State (blog)

Kentucky’s Pension Reform: Changes Prompt Some Public Employees to Call It Quits

Minnesota’s Pension System Changes as Public Employees Work After Retirement

Kill Social Security for the Right Reasons (blog)

The Social Security ‘Windfall Elimination Provision’ — A Windfall That Will Blow You Away (column)

Less Than Golden Years (editorial - New York Times)

Retire Now, and Risk Falling Short on Your Nest Egg

August 15, 2008

Sharp Increase in California Workers’ Pensions Was One of Three Irresponsible Decisions (column)

Fullerton, California’s Pro-Union Council Members May Punish Friend of Taxpayers for Contesting Pension Spiking

Engineers’ Union Won’t Sue CalPERS Over Public-Private Investment Policy

Chicago, Illinois Facing $420 Million Budget Hole

Taxpayers Contribute Millions to Indiana Lawmakers’ Generous Pension Plan

Expiring Health Benefits for Public Employees Prompt Retirement Exodus in Nevada

West Des Moines, Iowa Seeks Ways to Lower Cost of Employees’ Health Coverage

Increase in Cost of Health Benefits Will Average 7.5% for Georgia’s Employees and Retirees

South Carolina Public Employees Who Smoke to Pay More for Health Insurance

Riskier Investments Are Seen by Some State Public Pension Funds as a Way to Make Up Losses

Public Pension Fund Executives Are Wary of IRS Survey

Jefferson County, Alabama to Offer Voters a Voice on $3.2 Billion Sewer Debt Crisis

Delphi Being Pressured Over Pension Obligations to Avoid $2.5 Billion Hit to PBGC

Judge Orders Raytheon to Restore Health Benefits to Employees Who Took Early Retirement

McClatchy Newspaper Chain to Freeze Employees’ Pay for a Year

Social Security: It Is a Disgrace (editorial - New Hampshire Union Leader)

Ross Perot Talks About Our $9.4 Trillion Federal Debt and Social Security

America the Old (column)

Create Private Accounts for Social Security, Says Libertarian Presidential Candidate

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