by Ron DeLord | Nov 8, 2016 | Collective Bargaining, Fire, Labor, Politics, Public Employees (Non-Sworn), Unions
Adjusted net pension liabilities for the 50 largest local governments totaled $367 billion in fiscal year 2015, up 192% from 2005, said a report Friday from Moody’s Investors Service. Of the 50 municipal entities reviewed, 32 had greater adjusted net pension...
by Ron DeLord | Nov 8, 2016 | Collective Bargaining, Fire, Labor, Pensions, Police, Politics, Public Employees (Non-Sworn), Unions
After a Thursday 6th Circuit U.S. Court of Appeals ruling that could alter how cities like Knoxville handle city pension cost of living adjustment increases, a Knoxville councilman wrote an open letter to Mayor Madeline Rogero asking the city to take up the issue. The...
by Ron DeLord | Nov 8, 2016 | Collective Bargaining, Fire, Labor, Pensions, Politics, Unions
Mayor Lenny Curry is getting push back from Jacksonville police and firefighter unions on a plan to increase employee contributions to existing pensions and require new employees to enter a 401k retirement plan instead of a pension. The closing of the pensions to new...
by Ron DeLord | Nov 8, 2016 | Collective Bargaining, Fire, Pensions, Police, Politics, Public Employees (Non-Sworn), Unions
Memphis Police Director Michael Rallings and one other employee will be allowed to delay their retirements, thanks to a City Council vote Tuesday. The council unanimously approved an ordinance allowing senior members of Mayor Jim Strickland’s administration to...
by Ron DeLord | Nov 8, 2016 | Collective Bargaining, Fire, Labor, Pensions, Politics, Public Employees (Non-Sworn), Unions
In a potentially huge win for advocates of cutting government pensions, a San Francisco-based appeals court in August declared that public retirement plans were not “immutable” and could be reduced. The three-judge panel said the law merely requires government to...
by Ron DeLord | Nov 8, 2016 | Collective Bargaining, Fire, Labor, Pensions, Police, Politics, Public Employees (Non-Sworn), Unions
It’s been clear for years that Springfield residents have been suffering under the city’s deepening pension crisis. Two years ago, the city was already spending nearly every penny of its general fund property taxes on pension costs, leaving nothing for other core...
