by rondelord | Apr 25, 2014 | Collective Bargaining, Fire, Labor, Pensions, Police, Politics, Public Employees (Non-Sworn), Unions
New London, CT – For more than two months, the city’s finance director has been meeting with financial and legal advisers on a plan to straighten out New London’s balance sheet and put some cash back in the bank. The plan would involve bonding...
by rondelord | Apr 25, 2014 | Fire, Labor, Pensions, Politics, Unions
NEW ORLEANS, LA – If anyone still believed public employee pensions weren’t a budgetary cancer, then the court defeat New Orleans suffered last week with its firefighters’ plan should convince them. Defined benefit plans are a menace. This is true...
by rondelord | Apr 25, 2014 | Fire, Labor, Pensions, Police, Politics, Public Employees (Non-Sworn), Unions
TALLAHASSEE — Few issues would seem to score higher among conservatives than public pension reform. Shrinking the defined benefits that public employees receive and steering them into private retirement plans has long been championed by groups such as the Florida...
by rondelord | Apr 25, 2014 | Collective Bargaining, Fire, Labor, Pensions, Police, Politics, Unions
PEORIA, Ill. — Peoria Mayor Jim Ardis and several Illinois mayors are pushing for more pension overhauls, especially for police and fire departments. Ardis said state mandated pension payments for police and fire departments have gone up significantly from six...
by rondelord | Apr 25, 2014 | Collective Bargaining, Fire, Labor, Pensions, Police, Politics, Unions
PENNSYLVANIA – In another crippling blow, Scranton’s struggling pension funds are on the hook for an additional $6.9 million to $10.5 million. The city’s composite pension board learned Wednesday of the hefty price tag associated with a 2011 state Supreme Court...
by rondelord | Apr 19, 2014 | Collective Bargaining, Fire, Labor, Pensions, Police, Politics, Public Employees (Non-Sworn), Unions
CHICAGO, IL – Mayor Rahm Emanuel’s plan to raise employee contributions by 29 percent to save two city employee pension funds will cost workers $55 million by 2025 and reduce their benefits by 14 percent, an independent analysis has concluded. The Anderson...
