After an initial tied vote, Largo commissioners were able to come to a consensus on an emotionally charged issue regarding employee pensions June 18. At stake was the ability for city employees to take out loans against their retirement fund balance.
Gov. Tom Corbett's plan to slash $12 billion from the future pension benefits of current public employees is dead in the Republican-controlled state Senate after a key committee voted unanimously Wednesday to strip it from legislation.
With the state budget due in less than two weeks - one of the big issues on the table is pension reform.
Illinois borrowing costs are headed for the biggest monthly increase since May 2012 as investors bet two rating cuts won't be enough to spur lawmakers to fix the worst-funded U.S. state pension system.
Mayor Alvin Brown recently announced a deal on pensions with the public safety unions.
The National Institutes of Health tops this year's list of the best employers for Baby Boomers, according to the American Association of Retired Persons .
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.
The six-step plan was developed by officials from the University of Illinois and Northern Illinois University.
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.
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.
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.
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.
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.
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.
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.
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."