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It’s been 40 years since Congress passed the Revenue Act of 1978. Why is this obscure piece of legislation significant? Because the Revenue Act created Section 401(k) of the federal tax code. Over the past 40 years, the 401(k) provision…
Much has been written in recent years about the influence of so-called “dark money” in American politics. Whether it is the Koch Brothers and their extensive network or mysterious Super-PACs that seem to pop up each election cycle, the influence…
Two days before Christmas, the Washington Post published a powerful article warning of a frightening future: a United States without pensions. The Post story highlights the plight of former employees of a McDonnell Douglas plant in Tulsa, OK. These employees…
In a few short days, many Americans will begin writing their New Year’s resolutions. Some will try to lose weight, others will try to exercise more, and many others will follow resolutions of their own. We at the National Public…
It’s the holiday season. While the merry bells keep ringing, Santa Claus is coming back with a big fat pack upon his back. And you can be sure that he’s making a list and checking it twice and he’s going…
It seems like protecting pensions is a never-ending battle these days. The year 2017 certainly saw its share of attacks on the retirement security of teachers, firefighters, nurses, and other public employees. Before we look ahead to next year, it’s…
We’ve written a lot on this blog about how 401(k)s and other defined contribution plans fail to provide adequate retirement savings for most working people. There is now plenty of evidence that most workers will not save anywhere close to…
Full funding of public pensions is one of the most hotly debated subjects in state legislatures across the nation. It’s generally accepted that public pensions should aim to be 100 percent funded. However, does full funding actually relate to the…
Last week, companion bills were introduced in the Michigan House and Senate that would attack pensions and retiree healthcare for current and retired local government employees. Earlier this year, Michigan’s governor convened a task force on Responsible Retirement Reform for…
This week the U.S. Senate is busy debating its tax reform plan. Republican leaders in the Senate plan to hold a vote on Thursday and hope to pass their tax reform bill. They would then have a conference committee with…
As we’ve discussed before, public pensions in Kentucky have been the subject of much debate this year. Kentucky has some of the most poorly funded pension systems in the country, the result of years of underfunding by the state government.…
On Thursday, Americans will gather with friends and family to celebrate Thanksgiving. It is the time of year to reflect on what we are thankful for and to give thanks to those who make our communities stronger. We at NPPC…