News Clips for July 24, 2018
New Study: The Public Pension Crisis Is Not The Result Of Legislators' Failure To Fund
Or, to be more, precise, it's not the primary cause. Rather, a study by Wirepoints made available on their website yesterday points to a far more troubling cause: the value of promised benefits has skyrocketed in the years since 2003, both in absolute terms and relative to measures such as those states' GDP growth.
As states roll out retirement plans, legal challenges loom
A little more than a year ago, Oregon became the first state to embark on a novel experiment, offering a state-run IRA that could become a model for other states looking to encourage more workers to put away money away in a retirement plans.
Is your public pension safe? States with the best retirement funding
The responsibility of collecting funds and paying the pensions falls to state and local governments, and these governments spend millions each year in regular payments and lump sums to the beneficiaries -- the retired employees and their families.
Jerry Brown to Supreme Court: Hurry up and hear my pension law case
Before he leaves office, Gov. Jerry Brown wants the state Supreme Court to resolve a lawsuit that could empower his successor to reduce or alter pension benefits for California public employees.
Illinois Secure Choice Retirement Plan Could Face Legal Challenge
At least one industry association is considering litigation against Illinois as the state pushes forward with its Secure Choice retirement savings program, which imposes new payroll and reporting duties on all but the smallest employers.
Reason's Len Gilroy analyzes funding liability for public-sector pension plans
Len Gilroy, senior managing director of the Pension Integrity Project at the libertarian Reason Foundation, explains the long-term problem related to public-sector pension funding. Gilroy offered these comments during an interview for Carolina Journal Radio. (video)
Petition would link public employee wages to private sector
(Oregon) Supporters claim public employees receive greater total compensation than many private sector workers.