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April 28, 2024
IAFF Local Newswire
 
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Updated: Apr. 28 (21:00)

April 28, 2024, Ct. AFL-CIO Workers Memorial:
UPFFA
2024 SoCal Ride for ALS
GFFA L776
Retired Firefighter Brad Harper: Funeral Announcement
IAFF Local S-6
"Updated Funeral Information for Retired Fire Captain Larry Goodman"
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2024 | Pride Fire Shirts
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May 28, 2014: NCPERS News Clips
Posted On: May 148, 2014

News Clips for May 28, 2014

NCPERS News

NCPERS Video Blog: Mid Year Legislative Update
Executive Director, Hank Kim gives a mid year legislative update

NCPERS Washington Update for May 23





National News

Typical Working-Age Household Has $3,000 Saved for Retirement; Retirement Underfunding Ranges from $6.8 to $14 Trillion





State News
 
Jacksonville is $1.7 billion behind in police, fire pension contributions
 
Despite the threat of facing a primary challenge from the Michigan chapter of Americans for Prosperity sponsored by the billionaire Koch brothers, House Republicans in Lansing last week joined with Democrats to support the long-anticipated "Grand Bargain," a package of 11 bills that would help settle the Detroit bankruptcy deal.
 
After weeks of heated negotiations with Detroit, the nation's largest bankrupt city, lawyers for city retirees took the stage at a convention center downtown on Wednesday to face their fuming clients.
 
"There may be some public employees right now who don't like me because I'm prescribing tough medicine. But when the pension system gets well in a decade, I'm going to be their favorite governor. I'll wait to get the thank-you notes then."
 
New Jersey and federal pay to play rules have a very clear purpose: To prevent executives at financial firms that do business with the state from making contributions to New Jersey politicians or political organizations that operate in New Jersey.
Last week, Gov. Chris Christie announced he will take $2.4 billion owed to New Jersey's public pension system and use it instead to balance the state's current budget.
 
(VIDEO) LAGERS Assistant Executive Secretary, Bob Wilson, discusses the importance of retirement security for our communities.
 
In a series of votes that could be critical for Detroit's emergence from bankruptcy, the Michigan State House on Thursday agreed to contribute nearly $200 million in state money for a deal to spare Detroit's retirees from larger pension cuts and to avoid selling artworks from the city's museum.
 
The Oklahoma Senate has given final approval to a bill that would end the traditional pension retirement system for newly hired state workers in favor of a 401(k)-style retirement plan.




Opinions
 
To the south and north of us, in San Diego County and Santa Barbara County, hundreds of firefighters are putting their lives on the line every day battling wildfires
 
In recent years there has been a regular drum beat of news stories warning us about the enormous unfunded liabilities of state and local pension funds. Much of this has come from reports issued from well-endowed foundations, most notably the Pew and Arnold foundations who have a joint project on public pensions.
 
I couldn't help but notice that your April 28 editorial - urging pension funds to consider that "high" U.S. corporate tax rates apparently "adversely" impact fund investment performance - was placed directly across from an Other Views commentary on public employee pension underfunding.

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