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Public pensions matter — just ask Michigan and West Virginia
Headline: Public pensions matter — just ask Michigan and West Virginia
Publication: The Hill
Article Date: Apr 10, 2017
Article Commentary by Mark Nanzer, RESDC Executive Director:
This article provides a quick history lesson to local public agencies considering closing their pension plans and going to a 401(k)-style defined contribution plan. In a nutshell, costs increased dramatically, and a secure retirement for employees nose-dived! Read article…
CA Court Upholds San Diego City 2012 Pension Measure
Headline: San Diego pension ballot measure clears legal hurdle
Publication: CBS
Article Date: Apr 11, 2017
A California court on Tuesday, April 11 upheld voter-approved Proposition B from 2012, which put most new San Diego City hires into 401(k)-style plans instead of the City’s defined-benefit pension fund. “The 4th District Court of Appeal overturned a state labor board ruling that San Diego’s 2012 ballot measure was invalid because then-Mayor Jerry Sanders campaigned for it and didn’t negotiate with labor unions.” Both supporters and opponents said this court decision may encourage other cities and counties to pursue similar efforts. Read article…
California Supreme Court accepts another pension rights case
Headline: California Supreme Court accepts another pension rights case
Publication: Pensions & Investments
Article Date: Apr 13, 2017
“The California Supreme Court agreed to hear a second case over whether vested pension rights can be reduced or eliminated, according to a Wednesday Supreme Court docket decision.” Read article…
A retirement crisis that spans generations and gender looms
Headline: A retirement crisis that spans generations and gender looms
Publication: The Hill
Article Date: Apr 1, 2017
“The U.S. is facing a looming retirement crisis because a huge swath of Baby Boomers and Generation X-ers have saved little to nothing for their golden years, according to detailed analyses of generational savings habits.” Read article…
National Retirement Planning Week – April 3 – 9, 2017
Headline: National Retirement Planning Week
Publication: National Public Pension Coalition
Article Date: Apr 4, 2017
“National Retirement Planning Week – April 3 – 9, 2017. Retirement planning was a lot easier 30 years ago when over 60% of workers with a workplace plan had a pension.” Read article…