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The United States is facing a retirement security crisis. As the private sector has moved from defined benefit pensions to defined contribution 401(k)s, the retirement security of working families has been devastated. This switch also doesn’t account for the roughly…
Welcome to the latest edition of This Week in Pensions! As we do most weeks, we have gathered the best stories about pensions and retirement security from the previous week. This is the news you need to know in the…
It’s well-known that defined benefit pensions provide a secure and dignified retirement to librarians, nurses, correctional officers, and other public employees. They do this by providing a regular, reliable source of income in retirement. However, public pensions serve other functions…
Michigan lawmakers are at it again. During last year’s lame duck session, legislators in Michigan attempted to force through a bill to close the pension plan for teachers and public school employees – the Michigan Public Schools Employee Retirement System…
Welcome to the latest edition of This Week in Pensions! As we do most weeks, we have gathered the best stories about pensions and retirement security from the previous week. This is the news you need to know in the…
We’ve said it before and we’ll say it again: Closing a pension system is a terrible idea. Shuttering a pension system and shifting new hires to a defined contribution 401(k)-style plan is damaging not only to the thousands of workers…
Victory in South Carolina! Last week, Gov. Henry McMaster signed a bill increasing contributions to the state pension fund. While this is an important step towards improving the health of the fund, the cause for celebration is the part of…
Public pensions are not a recent creation. In fact, the earliest public pension in the United States was established over 150 years ago for police officers in New York City. We covered the history of public pensions in our recent…
Is anyone else experiencing some serious deja vu? Michigan Senate Majority Leader Arlan Meekhof has been tossing around the idea of closing the Michigan Public School Employees Retirement System (MPSERS) pension plan and moving new hires to a defined contribution…
Welcome to the latest edition of This Week in Pensions! As we do most weeks, we have gathered the top stories about pensions and retirement security from the previous week. This is the news you need to know in the…
Should I stay or should I go? This question is more than just the refrain from the insanely catchy 1982 hit by The Clash. It’s also a daily quandary facing Oklahoma’s underpaid educators. Shawn P. Sheehan, Oklahoma’s 2016 Teacher of…
Welcome to the latest edition of This Week in Pensions! As we do most weeks, we have gathered the best stories about pensions and retirement security from the previous week. This is the news you need to know in the…