by Ron DeLord | Nov 27, 2016 | Collective Bargaining, Fire, Labor, Pensions, Police, Politics, Unions
DANVILLE – In 1989, the city owed the police and fire pension funds about $16 million because the city officials had reportedly underfunded both accounts since 1935. Today, the combined unfunded liability for the public safety pensions is more than $103 million — for...
by Ron DeLord | Nov 27, 2016 | Collective Bargaining, Fire, Labor, Pensions, Police, Politics, Public Employees (Non-Sworn), Unions
Mayor Lenny Curry threw down the gauntlet earlier this month by proposing to eliminate pensions for all future city employees, upending what is widely viewed as a bedrock of government service, particularly for higher-risk employees like cops and firefighters. The...
by Ron DeLord | Nov 27, 2016 | Collective Bargaining, Fire, Labor, Pensions, Police, Politics, Public Employees (Non-Sworn), Unions
SACRAMENTO — A year after his 2010 election, Gov. Jerry Brown made a rare appearance at a legislative committee hearing to confront lawmakers about the steep cost of public employee pensions — and to demand that they pass his 12-point pension overhaul....
by Ron DeLord | Nov 20, 2016 | Collective Bargaining, Fire, Labor, Pensions, Police, Politics, Unions
LA WATCHDOG–According to the opaque actuarial report for the Los Angeles City Employees’ Retirement System (“LACERS”), 2016 was a good year. The return on its investment portfolio was 7%, the unfunded pension liability of $5.5 billion was $200 million lower...
by Ron DeLord | Nov 20, 2016 | Fire, Labor, Pensions, Police, Politics, Unions
The divided court upheld a Maricopa County Superior Court ruling that found a 2011 pension-reform law unconstitutional. A state Supreme Court ruling will require refunds to elected officials and public-safety officers who since 2011 were required to pay more for their...
by Ron DeLord | Nov 20, 2016 | Fire, Labor, Pensions, Police, Politics, Public Employees (Non-Sworn), Unions
As South Carolina lawmakers grapple with how to fix the state’s ailing pension system, the cost of having roughly $20 billion in unfunded liabilities is ticking up. That cost is rising by about $150,000 an hour, said state Rep. Jeff Bradley, R-Beaufort, a member of...
