Pension

The pension crisis has Chicago at the tipping point and it grows deeper by the d...

Tue, 18 Jun 2013 22:58:44 GMT

Source: www.facebook.com --- Tuesday, June 18, 2013
The Pension crisis has Chicago at the tipping point and it grows deeper by the day. Tomorrow, Illinois lawmakers head back to Springfield for a special session on pensions called by Quinn. Do you have any faith that they’ll fix the state's nearly $100 billion unfunded Pension liability problem? ...

Cape Wind gets $200M in financing from Danish pension fund

Tue, 18 Jun 2013 22:33:08 GMT

Source: www.capecodonline.com --- Tuesday, June 18, 2013
A Danish Pension fund is kicking in $200 million to help fund Cape Wind, edging the $2.6 billion off-shore wind farm project closer to being fully financed. ...

Scottish independence: Swinney’s pension promise

Tue, 18 Jun 2013 22:19:05 GMT

Source: www.scotsman.com --- Tuesday, June 18, 2013
JOHN Swinney yesterday sought to defuse anxiety over the impact independence will have on pensions by insisting a so-called “triple lock” guarantee would remain intact if people vote Yes next year. ...

IL lawmakers agree to form pension reform committee

Tue, 18 Jun 2013 22:00:10 GMT

Source: wgntv.com --- Tuesday, June 18, 2013
Illinois lawmakers will return to Springfield Wednesday for a special session, and a conference committee is expected to be created to tackle the Pension problem. Gov. Pat Quinn, House Speaker Michael Madigan, and Senate President John Cullerton are in favor of the panel. This is a change in Madigan’s position as last Friday he downplayed the idea, raising concerns about its effectiveness. Cullerton said after the same meeting he favored the idea of such a committee. According to Madigan’s spokesman Steve Brown, Madigan has since changed his position and is willing to help create the committee. The committee will try to find a compromise between the differing House and Senate bills. The panel will have five members — three Democrats and two Republicans — from both the House and Senate. Quinn wants a deal by early next month. ...

S&P cuts Detroit pension debt rating to D on default

Tue, 18 Jun 2013 20:53:56 GMT

Source: economictimes.indiatimes.com --- Tuesday, June 18, 2013
S&P's Ratings Services lowered the rating on Detroit's Pension obligation certificates of participation to D from CC in the wake of the city's decision to stop payments on the debt. ...

Gov. Pat Quinn, lawmakers plan pension talks into July

Tue, 18 Jun 2013 19:57:25 GMT

Source: www.rrstar.com --- Tuesday, June 18, 2013
SPRINGFIELD — Gov. Pat Quinn and lawmakers are working on a new plan to solve the state's $97 billion Pension crisis that involves forming a bipartisan committee and reconvening the Legislature again in July. ...

Madigan, Cullerton agree to Quinn's plan for pension reform panel

Tue, 18 Jun 2013 18:02:03 GMT

Source: www.suntimes.com --- Tuesday, June 18, 2013
Legislative leaders Monday agreed to Gov. Pat Quinn's plan for a joint House-Senate conference committee to tackle the state's Pension crisis, only days after House Speaker Michael Madigan called the idea "an effort by the governor to distance himself from the process." ...

Behind Illinois's Pension Saga

Tue, 18 Jun 2013 17:32:44 GMT

Source: online.wsj.com --- Tuesday, June 18, 2013
Michael Madigan, the nation's longest-serving state House speaker, is the linchpin in trying to fix the $96.8 billion public Pension shortfall that is choking Illinois's economy. ...

Quinn, lawmakers agree to form pension reform committee

Tue, 18 Jun 2013 17:26:00 GMT

Source: www.chicagotribune.com --- Tuesday, June 18, 2013
Unable to round up enough Senate votes for a sweeping measure to overhaul the state’s public employee Pension system, Gov. Pat Quinn has backed off in favor of a plan to a form a committee designed to forge a compromise on the hot-button issue. ...

Today In Muni Defaults: Detroit Pension Woes, ‘Terrible’ Alabama Bonds

Tue, 18 Jun 2013 17:11:22 GMT

Source: blogs.barrons.com --- Tuesday, June 18, 2013
As this blog has pointed out before, municipal bankruptcies remain extremely rare, but the few that do occur tend to be high-profile, drawn-out affairs. Today’s news illustrates two such troubled municipalities at opposite ends of the restructuring process. First, we go to Detroit, which is trying to avoid insolvency by proposing what Moody’s this week [...] ...

Byrne: Pension reform: It's not looking pretty

Tue, 18 Jun 2013 13:52:31 GMT

Source: www.chicagotribune.com --- Tuesday, June 18, 2013
As Illinois daily sinks ever deeper into the financial cesspool, other states are cutting taxes. ...

Illinois Republicans offer pension fix

Tue, 18 Jun 2013 13:24:06 GMT

Source: wgntv.com --- Tuesday, June 18, 2013
Until now, the debate on fixing Illinois’ underfunded Pension system centered on two competing Democratic proposals; now, state Republicans are offering an alternative. It would move state employees into a 401k system or something similar; they would contribute 8% of their pay to their Pension, and the state would make a 7% matching contribution. But the GOP plan isn’t given much chance of passage in a state government dominated by Democrats. State House Speaker Mike Madigan’s Pension plan would cut benefits the deepest; it has Governor Quinn’s support. State Senator John Cullerton’s plan would cut less, and it has union support; but any plan would have to survive a court challenge. The illinois General assembly will hold a special session on the Pension crisis Wednesday. ...

Report: Legislature's special session on pension to cost $40K a day

Tue, 18 Jun 2013 13:21:35 GMT

Source: abclocal.go.com --- Tuesday, June 18, 2013
The Illinois Legislature's special session will cost about $40,000 a day, which includes a $111 daily payment to lawmakers to defray the cost of food and lodging while they work in the state capitol. ...

Chidambaram for mobilisation of resources from insurance and pension sector for IDFs

Tue, 18 Jun 2013 08:29:28 GMT

Source: www.dnaindia.com --- Tuesday, June 18, 2013
Chidambaram said that in order to give thrust to investment in infrastructure sector and to attain GDP growth rate of 8%, there is an immense need for financial products such as IDFs, Takeout Finance and Credit Enhancement to fill the financial gap in the infrastructure sector. ...

Bill Daley attacks Quinn, Lisa Madigan on pension reform

Tue, 18 Jun 2013 08:14:19 GMT

Source: www.chicagotribune.com --- Tuesday, June 18, 2013
Democratic candidate for governor says leadership lacking on issue Democratic candidate for governor says leadership lacking on issue ...

Reduced pension payouts, worker concessions a tough sell for Detroit's emergency manager

Tue, 18 Jun 2013 08:00:00 GMT

Source: www.detroitnews.com --- Tuesday, June 18, 2013
Emergency Manager Kevyn Orr and Detroit's union leaders and Pension fund representatives are gearing up to meet Thursday in what some experts said could be a pivotal turning point in efforts to keep Michigan's largest city out of bankruptcy. ...

Finance Minister Launches Maiden infrastructure Debt fund (IDF) Scheme of IIFCL Mutual Fund for Catalysing Investment in Infrastructure Sector; FM for Mobilsation of Resources From Insurance and Pension Sector for IDFs

Tue, 18 Jun 2013 07:34:11 GMT

Source: www.pib.nic.in --- Tuesday, June 18, 2013
Finance Minister Launches Maiden infrastructure Debt fund (IDF) Scheme of IIFCL Mutual Fund for Catalysing Investment in Infrastructure Sector; FM for Mobilsation of Resources From Insurance and Pension Sector for IDFs ...

Global Medics Permanent UK: Salaried GP Sheffield, full-time or part-time Up to £80k + NHS Pension + MDU

Tue, 18 Jun 2013 07:05:00 GMT

Source: jobs.gponline.com --- Tuesday, June 18, 2013
Up to £80k + NHS Pension + MDU: Global Medics Permanent UK: Salaried GP Sheffield - Full-Time Up to £80k + NHS Pension + MDU + Enhanced £ rate for weekends & Bank Holidays + 6 Weeks Leave Yorkshire and Humber, Sheffield, North West England Region. ...

Global Medics Permanent UK: Salaried GP in Nottingham, £8500k per session + MDU + NHS Pension + 6 Weeks Leave

Tue, 18 Jun 2013 07:04:00 GMT

Source: jobs.gponline.com --- Tuesday, June 18, 2013
Up to £105k + MDU + NHS Pension: Global Medics Permanent UK: Salaried GP in Nottingham to £105k + MDU + NHS Pension Nottingham ...

Global Medics Permanent UK: Salaried GP needed in Somerset, up to £85k + NHS Pension + MDU + Relocation Allowance

Tue, 18 Jun 2013 07:04:00 GMT

Source: jobs.gponline.com --- Tuesday, June 18, 2013
up to £85k + NHS Pension + MDU + Relocation: Global Medics Permanent UK: Salaried GP up to £80k + NHS Pension + MDU + Relocation Middlesex, Buckinghamshire, Derby, Leicester, Nottingham, Leeds, Grimsby, Sheffield, Bradford, Somerset, Surrey, Sussex, Essex and Southampton North Somerset, South West England ...