Fareed Zakaria Is Really Mad About Public Pensions!
Zakaria seems to have convinced himself that public pension obligations are going to turn state and local governments into future Greeces, but that is not what the numbers show.
News
Search
Categories
Tags
Date
-
Fareed Zakaria Is Really Mad About Public Pensions! -
On Public Pensions, NYT Continues to Rely Exclusively on Those Who Were Wrong On Public Pensions, NYT Continues to Rely Exclusively on Those Who Were Wrong
In the 90s, and in the years of the last decade before the housing crash, most economists and pension managers who made projections of stock market returns were making absurdly optimistic assumptions.
-
Pension Reform: Some Myth-Busters To Follow The Stalemate Pension Reform: Some Myth-Busters To Follow The Stalemate
Last week, a State Senate bill that initially sought to replace New Hampshire’s defined benefit (DB for short — think pension) plan with a defined contribution plan (DC for short — think 401(k)) dissolved into a stalemate.
-
Budget and Pension Experts Highlight $400 Million Costs and State Credit Risks Associated with Pension-Slashing Legislation Budget and Pension Experts Highlight $400 Million Costs and State Credit Risks Associated with Pension-Slashing Legislation
Today (June 4, 2012) Gary Olson, former Senate Fiscal Agency Director and current Senior Policy Fellow at Public Sector Consultants, along with the Coalition for Secure Retirement (CSR), highlighted the massive potential costs and credit risks associated with the Senate…
-
When it came to pensions, state officials looked out for No. 1 When it came to pensions, state officials looked out for No. 1
A year after Emil Jones Jr. retired from the Illinois Senate in 2008, his annual pension jumped by more than 50 percent to $122,334 — far more than he ever earned as Senate president.
-
Josh Mandel Attacked Over $65 Billion Pension Flub Josh Mandel Attacked Over $65 Billion Pension Flub
Ohio Democrats are pouncing on state Treasurer Josh Mandel (R) for apparently forgetting $65 billion in state pension funds under his supervision, calling it an example of his management of his office while running for U.S. Senate.
-
Broken Promises: Michigan Lawmakers Pass Pension-Slashing Legislation with Higher Price Tag than Current Plan Broken Promises: Michigan Lawmakers Pass Pension-Slashing Legislation with Higher Price Tag than Current Plan
Today, the Michigan State Senate passed pension-slashing legislation, Senate Bill 1040, that would undermine the retirement benefits of school employees and cost the state an additional $2-3 billion more than its current plan, according to the Michigan Office of Retirement…
-
Union coalition launches campaign for fair solution on pensions Union coalition launches campaign for fair solution on pensions
Frustrated with politicians trying to force teachers, fire fighters, nurses and other public employees alone to bear the burden of solving the state’s pension funding crisis—a crisis politicians themselves caused by failing for years to pay their share to public…
-
In Major Victory for Workers, AZ Gov. Brewer Forced to Reverse Course on Unconstitutional Pension-Slashing Scheme In Major Victory for Workers, AZ Gov. Brewer Forced to Reverse Course on Unconstitutional Pension-Slashing Scheme
On Tuesday, Arizona Governor Jan Brewer finally relented after suffering a major defeat in the Courts and signed off on legislation to reverse her illegal pension-slashing measure that placed a larger burden on the backs of teachers and other dedicated…
-
State Senate rejects 401(k) but passes pension bill State Senate rejects 401(k) but passes pension bill
A proposal for a 401(k)-style retirement plan for new teachers and government workers failed on a tie vote Thursday in the Kansas Senate, but its members later approved other changes designed to bolster the long-term financial health of the state…
-
401(k)s are too risky for retirement 401(k)s are too risky for retirement
Yvonne Walker says Americans would be better served by a new type of pension instead of 401(k)s.
-
Why 401(k)s are bad for the future of long-term care Why 401(k)s are bad for the future of long-term care
We live in a world of unintended consequences. Consider a 1978 change in the tax code designed to let corporate executives supplement their pensions with extra cash. Believe it or not, that was the idea behind this subsection in the…