03/06/14 06:45 PM
SEATTLE (AP) — Boeing Co. said Thursday it is freezing the traditional defined-benefit pensions for 68,000 nonunion employees - including managers and executives - starting in 2016. The Chicago-based aerospace company said in a statement that the employees will transition to a company-funded...
By Gare Fineout | 03/05/14 08:56 AM
Florida legislators opened their annual 60-day session on Tuesday with legislative leaders vowing to cut taxes, expand the use of private school vouchers and make changes to the state's pension system.
03/04/14 07:15 PM
CHICAGO (AP) — Moody's Investors Service has downgraded Chicago's credit rating, citing the city's unfunded pension liabilities. The agency announced Tuesday it's lowering the rating on $8.3 billion in debt from A3 to Baa1, putting it only three notches above junk-bond status. Moody's gave...
By Ron Todt | 03/04/14 08:22 AM
The city's distressed pension fund would get an injection of $424 million under a proposal for UIL Holdings Corp. to buy the city-owned gas utility for $1.86 billion, the mayor announced Monday.
By associated press | 03/03/14 08:54 AM
Members of the Oklahoma House have urged the Senate and Gov. Mary Fallin to commit to funding targeted pay increases for state employees before signing off on a pension overhaul bill, according to one state lawmaker.
By Andrew Taylor | 03/03/14 08:32 AM
The budget gurus in Congress have failed for years to find a grand bargain to reduce the government's long-term debt, so this year they decided to go small. Just 1 percentage point would be shaved from the annual cost-of-living increase in military pensions for veterans under age 62.
By Steve Chapman | 02/28/14 03:16 PM
If you're in the hospital with multiple fractures, a staph infection and a collapsed lung, you may not take great comfort when your doctor informs you that his last patient has it worse, being dead. Sometimes encouraging comparisons are not that encouraging.
02/26/14 05:30 PM
ANNAPOLIS, Md. (AP) — Maryland fiscal officials urged lawmakers Wednesday to reject Gov. Martin O'Malley's proposal to help fill a budget hole with $100 million intended to shore up pension liabilities. Comptroller Peter Franchot and Treasurer Nancy Kopp implored members of a Senate panel...
02/26/14 02:45 PM
HARRISBURG, Pa. (AP) — Rising pension costs for local government workers could push municipalities into bankruptcy and spur tax increases if policymakers do not make changes, Pennsylvania's auditor general warned Wednesday. Pennsylvania's approximately 1,200 municipal pension systems are...
By Bloomberg News | 02/26/14 09:45 AM
When Hostess Brands went bankrupt in 2012, it triggered anxiety among employees at Ottenberg’s Bakery, a family-owned enterprise in Maryland. The companies shared a pension plan, and if Hostess couldn’t pay its retirees, Ottenberg’s would have to pick up the tab.
By Bloomberg News | 02/25/14 05:15 PM
Gov. Chris Christie proposed the largest budget in New Jersey history, a $34.4 billion plan swollen by rising costs for health benefits, pensions and debt. Spending would rise 3.5 percent from this fiscal year’s $33.3 billion as the state makes a $2.25 billion payment, the biggest ever, to...
By John Hanna | 02/25/14 08:57 AM
A proposal to start a new 401(k)-style pension plan for new Kansas teachers and government workers and a competing plan to boost the benefits of public retirees failed Monday to clear a committee in the state House.
By Angela Delli Santi | 02/25/14 08:55 AM
In excerpted remarks released by his administration, Christie says the pension reforms enacted during his first term don't go far enough. "Without additional reforms, New Jersey taxpayers still owe $52 billion to fully fund the pension system," he says in the remarks.
By Associated Press | 02/20/14 08:25 AM
A judge said he will decide in two to three weeks whether bond insurers' claims that the millions of dollars they are owed by Detroit should be considered secured debt during the city's bankruptcy.
By Fenit Nirappil | 02/19/14 08:29 AM
California's government will increase the amount it contributes to state employees' pensions starting this summer, and cities and other government agencies will follow suit in two years, to help cover the cost of benefits for retirees who are living longer.
By Paul Bedard | 03/09/14
By Ashe Schow | 03/10/14
By Byron York | 03/10/14
By Washington Examiner | 03/08/14
By Michael Barone | 03/10/14