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Are state and local pension funds really in crisis?
Headline: Are state and local pension funds really in crisis?
Publication: The Brookings Institution
Article Date: Jul 15, 2019
“For many state and local government pension plans, the value of liabilities for future benefit payments exceed the value of plan assets. Some journalists, academics, and policymakers say this failure to fully prefund state and local pensions constitutes a crisis. This article focuses on a recent paper presenting alternative view. Instead of focusing on a full prefunding benchmark, they focus on the sustainability of pension plans—whether plans will run out of assets and need to borrow money or be bailed out to meet benefit obligations.” Read article…
The future isn’t so golden for California’s next wave of retirees
Headline: The future isn’t so golden for California’s next wave of retirees
Publication: Berkeley News
Article Date: Jul 1, 2019
“The dream of enjoying one’s so-called Golden Years, or advanced years of life, in comfortable retirement may be a fantasy for an increasing number of working Californians.
“About half of California private sector employees ages 25 to 64 don’t have dedicated retirement assets, according to a new data brief by Nari Rhee, director of the Retirement Security Program at the University of California, Berkeley’s Center for Labor Research and Education (Labor Center). The brief provides a first-ever look at retirement assets — and the lack thereof — among private sector employees and working-age families in the state.” Read article…
No pension or 401(k)? State has you covered
Headline: Worried about retiring? California will help you save money
Publication: Los Angeles Times
Article Date: Jul 1, 2019
“On July 1, California launches an ambitious state-sponsored retirement program for the private sector. All employers with five or more workers will be required to sign on if they don’t offer their employees a way to save and invest for retirement. As many as 300,000 businesses must comply over the next three years.” Read article…
America’s Real Economy: It Isn’t Booming
Headline: America’s Real Economy: It Isn’t Booming
Publication: Forbes
Article Date: Aug 22, 2018
“All the official indicators say the economy is back in boom times, with a bull market, low unemployment and steady job growth. But there is an alternative set of data that depicts a different America, where the overlooked majority struggles from month to month.” Read article…
RESDC Supports Legislation Preserving Access to Affordable Drugs
RESDC recently sent local state legislators letters supporting passage of a first-of-its-kind state legislation to prevent “pay-for-delay” pharmaceutical company pricing practices. The California bill seeks to prevent drug manufacturers offering patent settlements to pay generic companies to delay the introduction of lower-price medication to the market. The bill, AB 824, curbs this practice that reduces competition and arbitrarily keeps life-saving medications more expensive. View legislative information about Assembly Bill 824.