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Pension News

News on Pension continually updated from thousands of sources around the net.

1 hr ago | Chicago Tribune

Quinn, lawmakers agree to form pension reform committee

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.

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Related Topix: Personal Finance, Pat Quinn, US Governors, Illinois, Illinois Government

5 hrs ago | WHBF-TV Rock Island

Illinois Senate debates university pensions

The six-step plan was developed by officials from the University of Illinois and Northern Illinois University.

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Related Topix: Illinois, Illinois Government, Personal Finance, Northern Illinois University

5 hrs ago | Kilmarnock Standard

Scottish News: Swinney in pledge over pensions

Senior citizens in Scotland would benefit from stronger pension safeguards than those elsewhere in the UK if Scotland became independent, the Finance Secretary has said.

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Related Topix: Personal Finance

9 hrs ago | Detroit News

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

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.

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Related Topix: Personal Finance, Economics News, Bankruptcy, Retirement

13 hrs ago | Philly.com

Pension reforms ready to move, even as PA plans to keep underfunding

The House State Government Committee has plans for a hearing on the governor's pension reform proposals Wednesday morning, less than two weeks before lawmakers expect to take heir summer vacations after the state budget deadline, June 30. That leaves little time for lawmakers to enact a major overhaul of the two pension systems.

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Related Topix: Personal Finance, US News, Retirement

17 hrs ago | The Baltimore Sun

Bel Air commissioners vote down pension fund proposal

The Bel Air Town Commissioners unanimously voted against a budget amendment Monday that would have put $55,000 in savings toward the town employee pension funds in order to review the "overall health" of the pensions, which are short by more than $100,000 for the 2013 fiscal year.

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Related Topix: Personal Finance, Bel Air, MD

21 hrs ago | Deseret News

State pensions threaten to bleed states dry

California may be boasting a $1.2 billion budget surplus this year, but it and other states still face the growing problem of what to do about pensions for state workers, according to The Economist.

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Related Topix: Personal Finance, Retirement

Mon Jun 17, 2013

Reuters

UPDATE 1-New York City settles U.S. lawsuit over police pensions

New York City has settled a lawsuit in which the federal government accused it of improperly reducing retirement benefits for current and former police officers who served in the military after Sept.

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Related Topix: Personal Finance

Bloomberg

Detroit's Recovery Plan Dips Into Pensions to Keep City Afloat

A plan to cut pension benefits previously thought sacrosanct for 30,000 workers and retirees may tip Detroit into bankruptcy as Emergency Manager Kevyn Orr negotiates over $17 billion in debt and obligations.

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Related Topix: Personal Finance, Economics News, Bankruptcy, Retirement, 9, Sacramento, CA

News Talk Florida

Attacks On State Pension Plan Not Over

As Will Weatherford tells it, his plan to shut down the state's pension fund to new hires won't affect people already in it.

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Related Topix: Personal Finance, Pinellas County, FL, Pasco County, FL

National Journal

Sen. Cornyn Reveals Not One, Not Two, But Three Public Pensions Atop His Salary

Texas Republican John Cornyn supplemented his Senate salary with a trio of public pensions last year from his days as a Texas judge and elected official-a practice some fiscal watchdog groups have attacked as "double dipping."

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Related Topix: US Politics, US News, US Senate, Republican, John Cornyn, Texas Government, Texas, Personal Finance, Retirement, Rick Perry, US Governors

Mirror.co.uk

State pension 'triple lock' guarantee could be axed admits Lib Dem minister Steve Webb

The "triple lock" is the guarantee it will rise every year in line with prices, earnings, or 2.5 per cent, whichever is higher Mr Webb has boasted about bringing in the lock, which ensures that pensions rise by at least 2.5% a year, in the past.

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Related Topix: Personal Finance

Omaha World-Herald

Marty Bilek's annual Sheriff's Office pension will exceed $67,000

Marty Bilek, who resigned as chief deputy of the Douglas County Sheriff's Office to become Mayor Jean Stothert's chief of staff, will collect a county pension of more than $67,000 in addition to his $112,500 city salary.

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Related Topix: Personal Finance

Philly.com

Philly Archdiocese grappling with pensions for clergy

A pension fund for priests cited as a priority in a $200 million fund-raising campaign by the Archdiocese of Philadelphia has fallen precariously short of money, and church officials want parishes and retired clergy to help cover the shortfall.

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Related Topix: Personal Finance, Philadelphia, PA, Retirement, Delaware County, PA, Darby, PA

East Anglian Daily Times

Suffolk and Essex: Warning that teachers will strike over pay, pensions and work conditions

Thousands of parents may be forced to take days off work as teaching unions warned strikes could close schools across Suffolk and Essex.

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Related Topix: Personal Finance

Sun Jun 16, 2013

This Is Somerset

Western Daily Press published Don't blame the pensioners

The UK's pensioners get a bad press these days. Seventy-five per cent of us own our own homes and over 50 per cent of welfare payments go to us.

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Related Topix: Personal Finance, Retirement, Home, Mortgage, United Kingdom

The Times

Illinois pension fight shows Democratic leader differences

As lawmakers strain again this week to find a fix for the state's $97 billion pension crisis, the stalemate between House Speaker Michael Madigan and Senate President John Cullerton highlights the evolving relationship between two powerful Democratic friends who've seldom had such a prolonged disagreement on such an urgent issue.

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Related Topix: Illinois, Illinois Government, Personal Finance, US News, Pat Quinn, US Governors, Rod Blagojevich

Daily Kos

PA-Gov: SEIU Needs You To Tell Gov. Corbett (R) Not To Dig A Deeper Pension Hole

First off, Happy Father's Day to all the dad Kossacks here. Second, I received an e-mail today regarding Gov. Tom Corbett's pension cuts plan: Right now, the governor is planning to weaken the state's two retirement funds - the Public School Employees' Retirement System and the State Employees' Retirement System - by diverting new state workers ... (more)

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Related Topix: US Governors, Tom Corbett, Personal Finance, Retirement

WAND-TV Decatur

Universities offer partial Illinois pension fix

Illinois university employees would pay more toward their pensions and receive annual retirement-pay increases tied to inflation in a reform plan the Senate president supports.

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Related Topix: Personal Finance

MLive.com

Analyst: Chrysler pension freeze consistent with nationwide trend

Chrysler Group LLC freezing its pension for salaried employees isn't out of the ordinary in today's business environment, according to one financial analyst.

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Related Topix: Chrysler Group, Personal Finance, Auburn Hills, MI, Retirement