More Pensions Articles

  • Patrick signs $36B state budget, announces vetoes

    BOSTON (AP) — Gov. Deval Patrick signed into law Friday the final state budget of his administration, while also asking lawmakers to expand his authority to order spending cuts, if needed, during his last months in office. The $36.5 billion budget for the fiscal year that began July 1 is a...

  • VIDEO: Pennsylvania Gov. Tom Corbett's pension problem

    Pennsylvania Gov. Tom Corbett released a new campaign ad trying to show Democratic challenger Tom Wolf as uninformed about budget and pension issues.

  • Corbett signs budget, takes on lawmakers, pensions

    HARRISBURG, Pa. (AP) — Gov. Tom Corbett signed the state budget 10 days late on Thursday and used his line-item veto power to spotlight what he called the Legislature's failure to sacrifice with the rest of government or to curb rising public-sector pension costs that are fueling school tax...

  • Illinois AG pledges to defend pension overhaul

    CHICAGO (AP) — Illinois Attorney General Lisa Madigan is drawing a clear line between a state Supreme Court decision on health benefits for state retirees and a legal challenge to a statewide pension overhaul. Madigan spokeswoman Maura Possley said in a statement Thursday the high court's...

  • Arkansas lawmakers OK insurance, lotto, prisons bills

    Arkansas lawmakers gave final approval early Wednesday to bills addressing teacher health insurance premiums, prison overcrowding and new limits on the lottery, wrapping up a special legislative session that left unresolved until next year the long-term questions surrounding the three issues.

  • Pension agency says plans for 1.5 million at risk

    WASHINGTON (AP) — Despite an improving U.S. economy, retirement plans covering roughly 1.5 million workers are severely underfunded, threatening benefit cuts for current and future retirees, a federal watchdog agency warned Monday. The Pension Benefit Guaranty Corporation (PBGC) said...

  • Lump sum repayments approved in Detroit bankruptcy

    DETROIT (AP) — Detroit retirees will be allowed to repay generous annuity returns with a lump sum in the city's bankruptcy case. A single payment could be cheaper than stretching it over time. The city is proposing to recover as much as 20 percent of the money paid between 2003 and 2013....

  • Illinois releases 5-year economic blueprint

    CHAMPAIGN, Ill. (AP) — The state agency in charge of helping improve Illinois' economy released a five-year plan on Monday that it hopes will create a good environment for business growth and prosperity. The plan is required under a state law passed last year, part of an effort to build up a...

  • Chris Christie veto expected on New Jersey budget

    Gov. Chris Christie is expected to sign a state budget, but not before doing major surgery to it with line-item vetoes.

  • GOP's patchwork $29.1b budget in Pennsylvania speeds toward votes

    A $29.1 billion Pennsylvania state government budget plan held together by a patchwork of cash diversions and other maneuvers was poised for its first floor votes Monday, the last day of the fiscal year after a rocky spring session for Republican majorities.

  • There is a way out for states trapped in the pension sinkhole

    Under "defined benefit" retirement programs, public employees have been promised more money than states can ever afford to pay.

  • Court sides with employees in retirement fund case

    WASHINGTON (AP) — The Supreme Court on Wednesday sided with bank employees in a lawsuit against Fifth Third Bancorp that accused management of irresponsibly investing employee retirement money in the bank's then-failing stock. The unanimous ruling came in a case involving a retirement fund...

  • House panel approves $29.1b GOP budget plan for Pennsylvania

    Republicans on the Pennsylvania House Appropriations Committee on Tuesday approved a spending blueprint that would hold the line on taxes, but would scale back increases for education and human services proposed by Gov. Tom Corbett while relying heavily on the unlikely sell-off of the state's...

  • Judge to hear arguments over pension contributions

    A judge is set to hear arguments over New Jersey Gov. Chris Christie's plan to use pension payments to balance the budget.

  • Rhode Island General Assembly adjourns for 2014

    Rhode Island's General Assembly adjourned for the year early Saturday after pushing through legislation outlining a plan to expand gambling in Newport and scores of other bills, including one suspending the use of standardized tests as a graduation requirement.



From the Weekly Standard