Public Pension

Source: www.washingtonpost.com --- 38 days ago
The leading U.S. association of actuaries is considering a change to the way state and local officials value the cost of their Pension promises, which could force governments to dramatically raise their contributions to their retirement plans. ...

Source: www.prnewswire.com --- 19 days ago
...

Source: seekingalpha.com --- 8 days ago
Susan M. Mangiero submits: According to " California officials hope for easing of credit crunch " (October 4, 2008), Los Angeles Times reporters Marc Lifsher and Evan Halper paint a gloomy financial picture for this giant state. They explain that Governor Arnold Schwarzenegger may have no choice but to ask for help from Washington if short-term credit markets do not soon improve. An inability to issue Revenue Anticipation Notes with a face value of $7 billion will make it difficult to "get cash to pay for day-to-day operations, including paying workers, funding schools and feeding prisoners, between the end of October and the spring." Click to read the October 2, 2008 letter from the former action hero to The Honorable Henry M. Paulson, Jr. Vox populi Jon Ortiz (aka Sacramento Bee reporter) and creator of The State Worker blog writes that State Treasurer Bill Lockyer may set his sights on the Public workers' Pension money pot, CalPERS. Author of an  October 3, 2008 letter to The Honorable Bill Lockyer, State Senator Dean Florez writes that "the state should look to one of the world's largest investors, the California Public Employee Retirement System as a reasonable purchaser of short-term California state government debt." Complete Story » ...

Source: www.sunherald.com --- 11 days ago
The director of the Mississippi Public Employees Retirement System says that despite turbulent financial markets, the fund is "financially sound" and members have no reason to worry about their pensions. ...

Source: www.uticaod.com --- 6 days ago
When New Hartford school district Superintendent Daniel Gilligan walks out the door Oct. 15, he’ll ease into retirement with more than $25,000 in his pocket for unused sick days and full lifetime health care. Gilligan’s 411 unused sick days will net him $25,972. “That’s not unusual,” Gilligan said. “A lot of teachers who retire from here might get a nice bump.” Gilligan also will receive a state Pension, but details were not immediately released by the state Teachers Retirement System. As Gilligan discussed plans for his retirement, another administrator – Robert Nole – was implementing plans for a smooth transition to the superintendent role. “I’m being visible and meeting with various shareholders or stakeholder groups,” Nole said. Gilligan’s Pension Gilligan’s state Pension won’t be made Public for another year, said a spokesman from the state Teachers’ Retirement System’s media relations department. He declined to release an estimate on what Gilligan will receive for the next year. Gilligan, 58, made $157,000 in 2007-2008 – his last full year in his three-year tenure as superintendent. When he turns 60, Gilligan also will receive a military Pension, he said. After he retires, Gilligan and his wife plan to fly to Arizona – where they have a house – to be with family for a while. After that, Gilligan and his wife would like to work on some type of faith-based initiative for children and schools. “We’ll see where that takes us,” ...

Source: www.wapt.com --- 11 days ago
The director of the Mississippi Public Employees Retirement System says the fund is “financially sound.” ...

Source: www.411mania.com --- 35 days ago
Empty promises ...

Source: www.bignewsnetwork.com --- 20 days ago
The troubled U.S. economy and Wall Street's recent woes are bringing a dose of good news-bad news to Minnesota Public employees invested in the state's Pension fund. The good news: Wall Street's rece... ...

Source: www.atlasusa.org --- 34 days ago
09/11/2008 @ Bratislava       would like to invite you to the lecture given within       Conservative Economic Quarterly Lecture Series /CEQLS/ by José Piñera Founder and President of The International Center for Pension Reform   Private vs. Public Pension Systems Place? Auditorium Maximum, The Law Faculty of the Comenius University, Šafárikovo nám. 6, Bratislava, Slovakia Time? September 11, 2008 at 5.30 PM   R.S.V.P. conservative@institute.sk till September 9, 2008 MORE INFORMATION: http://www.institute.sk        . [...] ...

Source: www.topix.com --- 39 days ago
Enugu State House of Assembly has directed its committee on Civil Service and Judiciary to conduct Public hearing on the state's Pensions Reform Bill. ...

Source: www.topix.com --- 11 days ago
Gov. Jon S. Corzine signed into law on Monday a package of bills designed to ease the huge financial burden of state worker pensions and health benefits on struggling New Jersey families. ...

Source: www.topix.com --- 36 days ago
As you may be aware, government has a long history of making promises it can't keep. ...

Source: www.topix.com --- 27 days ago
Law professor Mario Mainero, a key player in the Pension fight between Orange County and its deputy sheriffs, says the battle there over retroactive benefit increases "has raised concern among unions up and ... ...

Source: www.watsonwyatt.com --- 19 days ago
The number of non-government employees in defined benefit (DB) Pension schemes with a normal Pension age of 60 has fallen by more than 40 per cent when measured against the data available to the Government when it decided not to increase normal Pension ages for existing members of Public sector schemes, says Watson Wyatt. [EUROPE] ...

Source: benefitslink.com --- 9 days ago
Excerpt: "This chapter assesses best practice benchmarks for the design of defined contribution plans in the Public sector, where such plans are the primary, or core, employment-based retirement benefit. These benchmarks rely on the notion that providing an adequate and secure retirement income for participants is the primary plan objective." (Pension Research Council; registration required to download fulltext of paper) ...

Source: benefitslink.com --- 19 days ago
Excerpt: "The value of Pension promises already made by US state governments will grow to approximately $7.9 trillion in 15 years. We study investment strategies of state Pension plans and estimate the distribution of future funding outcomes. We conservatively predict a 50% chance of aggregate underfunding greater than $750 billion and a 25% chance of at least $1.75 trillion (in 2005 dollars). Adjusting for risk, the true intergenerational transfer is substantially larger." (National Bureau of Economic Research; paid subscription or individual purchase required to retrieve fulltext) ...

Source: benefitslink.com --- 6 days ago
Excerpt: "After reviewing [the history of Public sector plans], we employ data from all 50 states to estimate a Pension benefit equation for hypothetical workers and explain differences in the generosity of plans across states and types of workers covered. We show that population growth, plan funding, union representation, and participation in Social Security influenced the generosity of the plans." (Pension Research Council; registration required to download fulltext of paper) ...

Source: www.frallc.com --- 3 days ago
...

Source: www.pensionriskmatters.com --- 8 days ago
According to " California officials hope for easing of credit crunch " (October 4, 2008), Los Angeles Times reporters Marc Lifsher and Evan Halper paint a gloomy financial picture for this giant state. They explain that Governor Arnold Schwarzenegger may have no choice but to ask for help from Washington if short-term credit markets do not soon improve. An inability to issue Revenue Anticipation Notes with a face value of $7 billion will make it difficult to "get cash to pay for day-to-day operations, including paying workers, funding schools and feeding prisoners, between the end of October and the spring." Click to read the October 2, 2008 letter from the former action hero to The Honorable Henry M. Paulson, Jr. Vox populi Jon Ortiz (aka Sacramento Bee reporter) and creator of The State Worker blog writes that State Treasurer Bill Lockyer may set his sights on the Public workers' Pension money pot, CalPERS. Author of an  October 3, 2008 letter to The Honorable Bill Lockyer, State Senator Dean Florez writes that "the state should look to one of the world's largest investors, the California Public Employee Retirement System as a reasonable purchaser of short-term California state government debt." In " Could CalPERS help with California's cash crunch? Maybe " (October 3, 2008), Ortiz posts a response from CalPERS spokeswoman Pat Macht who comments on process. "If we are approached, our investment staff would do their normal due diligen ...

Source: news.yahoo.com --- 2 days ago
CHARLESTON, W.Va. -- A former Lincoln County assessor who pleaded guilty to felony conspiracy to buy votes will not receive his Public employees Pension after the West Virginia Supreme Court denied his appeal Friday.Jerry Allen Weaver appealed the state Co... ...