We’re back again with our new weekly feature: This Week in Pensions. We’re gathering the best stories from the week about pensions and retirement security. This is the news you need to know. Here are this week’s top stories about pensions:
- Putting Pensions at Risk at T.V.A. by Bailey Childers: NPPC Executive Director Bailey Childers writes to the New York Times to express outrage that TVA employee pensions are being threatened, while the multimillionaire CEO protects his supplemental retirement plan.
- PSERS director: “We’re very well toward turning the corner on our unfunded liability” by Jason Gottesman: The heads of both of Pennsylvania’s public pension plans report that the plans are on a good path toward reducing their unfunded liabilities now that the state is beginning to make its full annual payments.
- Fresno’s city pension program boasts surplus – rarity in California by Tim Sheehan: the City of Fresno has used a conservative, long-term investment strategy and modest benefits to create a surplus in its public pension fund.
- Why the 401(k) system is a blight on the face of the American republic by Ryan Cooper: writing in The Week, Ryan Cooper details the complete failure of 401(k)’s to provide retirement security for average, working Americans.
- The Retirement Revolution That Failed: Why the 401(k) Isn’t Working by David Dayen: Another article about the failure of 401(k)’s and how they contributed to the current retirement crisis facing many Americans.