Fighting Back on Retirement Benefits

June 4, 2020

CALIFORNIA NEWS

Upland poised to make $1M in cuts affecting library, recreation and payroll
https://www.dailybulletin.com/2020/06/03/upland-poised-to-make-1m-in-cuts-affecting-library-recreation-and-payroll/

SF pension data breach ma have exposed city retirees’ bank, tax information
https://www.sfchronicle.com/business/article/SF-pension-data-breach-may-have-exposed-city-15315343.php

NATIONAL NEWS

Are public pensions doomed because of the coronavirus pandemic? State, local budgets feel pain
https://www.usatoday.com/story/money/2020/06/04/coronavirus-pensions-retirement-covid-19-state-local-budget-markets/5198176002/

Philadelphia pension board redeems $200 million from UBS property fund
https://www.pionline.com/investing/philadelphia-pension-board-redeems-200-million-ubs-property-fund

June 3, 2020

NATIONAL NEWS

Low funded public pensions might not survive the decade
https://www.ai-cio.com/news/low-funded-public-pensions-might-not-survive-decade/

‘Anger’ as Nissan plans Washington pension scheme closure
https://www.bbc.com/news/uk-england-tyne-52898309

Rhode Island attorney jailed for collecting pension benefits of deceased client
https://www.ai-cio.com/news/rhode-island-attorney-jailed-collecting-pension-benefits-deceased-client/

 

June 2, 2020

NATIONAL NEWS

Southern Co. governance shifting sands of democrats environmental agenda
https://saportareport.com/southern-co-governance-shifting-sands-of-democrats-environmental-agenda/

Supreme Court rules on pension, immigrant deportation cases
https://www.wsj.com/articles/supreme-court-rules-on-pension-immigrant-deportation-cases-11591040672

Pension funding respite could trigger future premium hikes
https://news.bloomberglaw.com/employee-benefits/pension-funding-respite-could-trigger-future-premium-hikes

The CIO of a major pension fund explains why the stock market looks like the 1960s again
https://www.cnbc.com/2020/06/01/watch-the-interview-with-calstrs-cio-chris-ailman-on-why-the-stock-market-looks-like-the-1960s-again.html

June 1, 2020

CALIFORNIA NEWS

The state pension crisis goes beyond the big blue states
https://www.wsj.com/articles/the-state-pension-crisis-goes-beyond-the-big-blue-states-11590791639

NATIONAL NEWS

COVID-19 will threaten Arizona pensions, long after we’ve found a vaccine. Here’s why.
https://www.azcentral.com/story/opinion/op-ed/2020/05/31/asrs-arizona-pension-at-risk-coronavirus-losses-hurt-workers/5257612002/

Wyoming’s only public employee pension system flouts state transparency law
https://www.forbes.com/sites/adamandrzejewski/2020/05/31/wyomings-only-public-employee-pension-system-flouts-state-transparency-law/#33c3c5d56824

US pension plans warned they will run out of money by 2028
https://www.bizjournals.com/charlotte/news/2020/05/31/us-pension-plans-warned-they-will-run-out-of-money.html

Public pensions, public protests, and why it matters
https://www.forbes.com/sites/ebauer/2020/05/31/public-pensions-public-protests-and-why-it-matters/#3713da4f5314

May 29, 2020

CALIFORNIA NEWS

Bill to require voter approval of California pension bonds is shelved
https://www.bondbuyer.com/news/bill-to-require-voter-approval-of-california-pension-bonds-is-shelved

NATIONAL NEWS

Global pandemic ravages NJ public pension fund, burning billions of dollars
https://njbiz.com/welcome-ad/?retUrl=/global-pandemic-ravages-nj-public-pension-fund-burning-billions-dollars/

NJ’s pension fund drop tied to fossil fuels – we need to divest
https://www.insidernj.com/press-release/njs-pension-fund-drop-tied-fossil-fuels-need-divest/

Critics: New York doesn’t need federal bailout to cover public employee salaries, pensions
https://www.thecentersquare.com/new_york/critics-new-york-doesn-t-need-federal-bailout-to-cover-public-employee-salaries-pensions/article_17385a4c-a127-11ea-9fec-f7f6b8eaabef.html

May 28, 2020

NATIONAL NEWS

Multiemployer Pension Update: The Story of the ‘Green Zone’ Teamsters Plans
https://www.forbes.com/sites/ebauer/2020/05/26/multiemployer-pension-update-the-story-of-the-green-zone-teamsters-plan/#5941afe167af

N.J. public worker pension fund losing money on its investments as coronavirus takes toll
https://www.nj.com/coronavirus/2020/05/nj-public-worker-pension-fund-losing-money-on-its-investments-as-coronavirus-takes-toll.html

New Jersey to Postpone Pension Payments
https://www.ai-cio.com/news/new-jersey-postpone-pension-payments/

New York City fire fund has enough assets to pay out 10.1 years of pension benefits, study finds
https://www.thecentersquare.com/new_york/new-york-city-fire-fund-has-enough-assets-to-pay-out-10-1-years-of/article_84ddd0a8-8fa8-11ea-a56f-abbdb879b648.html

Rhode Island Pension Fund Earns $452 Million in April 2020
http://www.thenewportbuzz.com/rhode-island-pension-fund-earns-452-million-in-april-2020/24237

Michigan Senators’ Problematic Pensions
https://www.realclearpolitics.com/articles/2020/05/27/michigan_senators_problematic_pensions_143291.html

Taxpayers could be contributing up to $2.6 million to employees’ pension fund
https://observer-reporter.com/news/localnews/taxpayers-could-be-contributing-up-to-2-6-million-to-employees-pension-fund/article_758af8b4-9f76-11ea-8ff6-379837d063a8.html

Energy West Owes Miners’ Pension $115 Million After Withdrawal
https://news.bloomberglaw.com/employee-benefits/energy-west-owes-miners-pension-115-million-after-withdrawal

May 27, 2020

CALIFORNIA NEWS

Status Check: Cloudy Days for Pensions
https://www.comstocksmag.com/web-only/status-check-cloudy-days-pensions

NATIONAL NEWS

New Jersey to make quarterly pension fund payment on time
https://www.pionline.com/pension-funds/new-jersey-make-quarterly-pension-fund-payment-time

The game of pension risk transfers continues
https://www.thinkadvisor.com/2020/05/26/the-game-of-pension-risk-transfers-continues/

Council doing what is necessary on pension funds
https://azdailysun.com/opinion/letters/council-doing-what-is-necessary-on-pension-funds/article_af96a83a-671d-5346-bd3c-75c2231c2087.html

Maine PERS has enough assets to pay out 14.4 years of pension benefits, study finds
https://www.thecentersquare.com/maine/maine-pers-has-enough-assets-to-pay-out-14-4-years-of-pension-benefits-study/article_5edb5e40-8fa6-11ea-8a7c-eb02e698ed8d.html

Florida pension fund sues Ryder Systems for securities fraud
https://www.ai-cio.com/news/florida-police-fire-pension-fund-sues-ryder-system-securities-fraud/

American Airlines retirees lose class bid in pension data suit
https://news.bloomberglaw.com/employee-benefits/american-airlines-retirees-lose-class-bid-in-pension-data-suit

Center For retirement research estimates4% funding drop in Connecticut state employee pension system
https://yankeeinstitute.org/2020/05/26/center-for-retirement-research-estimates-4-percent-funding-drop-in-connecticut-state-employee-pension-system/

May 26, 2020

CALIFORNIA NEWS

California state unions have three weeks to negotiate pay cuts. Can they avoid furloughs?
https://www.sacbee.com/news/politics-government/the-state-worker/article242940971.html

NATIONAL NEWS

State pension boards lack investment experience – what could possibly go wrong?
https://www.forbes.com/sites/edwardsiedle/2020/05/24/state-pension-overseers-lack-investment-experiencewhat-could-possibly-go-wrong/#b57567f27aac

A top pension manager sold Apple, Amazon, and Disney stock. Here’s what it bought.
https://www.barrons.com/articles/a-top-pension-sold-apple-stock-amazon-disney-ge-51590075918

Cuomo mandates death benefits for frontline workers in local pension funds
https://www.amny.com/coronavirus/cuomo-mandates-death-benefits-for-frontline-workers-in-local-pension-funds/

New Hampshire fund has enough assets to pay out 11.7 years of pension b benefits, study finds
https://www.thecentersquare.com/new_hampshire/new-hampshire-fund-has-enough-assets-to-pay-out-11-7-years-of-pension-benefits/article_08fe74c2-8fa5-11ea-a208-d764e1156c83.html

May 22, 2020

CALIFORNIA NEWS

Writers Guild Leaders Seek Hikes in Pension Plan Contributions from Studios
https://www.yahoo.com/entertainment/writers-guild-leaders-seek-hikes-220453187.html

NATIONAL NEWS

Goldman Sachs Estimates Public Pensions Now Less than 60% Funded on Average
https://www.ai-cio.com/news/goldman-sachs-estimates-public-pensions-now-less-60-funded-average/

Retired Oklahoma teachers, firefighters and others get first pension increase in 12 years
https://ktul.com/news/local/retired-oklahoma-teachers-firefighters-and-others-get-first-pension-increase-in-12-years

Louisiana SERS has enough assets to pay out 9.4 years of pension benefits, study finds
https://www.thecentersquare.com/louisiana/louisiana-sers-has-enough-assets-to-pay-out-9-4-years-of-pension-benefits-study/article_bef76d96-8fa1-11ea-8f2a-2fa7f6e69c82.html

May 20, 2020

CALIFORNIA NEWS

Why California is in trouble – 340,000 public employees with $100,00+ paychecks cost taxpayers $45 billion
https://www.forbes.com/sites/adamandrzejewski/2020/05/19/why-california-is-in-trouble–340000-public-employees-with-100000-paychecks-cost-taxpayers-45-billion/#2eb4e9785fb8

NATIONAL NEWS

Texas, localities amass $86 billion in unfunded pension liabilities
https://thetexan.news/texas-localities-amass-86-billion-in-unfunded-pension-liabilities/

Seattle fund has enough assets to pay out 14.5 years of pension benefits, study finds
https://www.thecentersquare.com/washington/seattle-fund-has-enough-assets-to-pay-out-14-5-years-of-pension-benefits-study/article_2dacb730-8fa9-11ea-a0ca-978cb36127a6.html

Arizona public safety fund has enough assets to pay out 9.6 years of pension benefits, study finds
https://www.thecentersquare.com/arizona/arizona-public-safety-fund-has-enough-assets-to-pay-out-9-6-years-of-pension/article_c4e2e91a-8fa6-11ea-89af-97c2a6710952.html

Texas Gov. Abbott tweets shaky chart showing Texas superior to California
https://www.sfgate.com/local/editorspicks/article/Texas-Gov-Abbott-infographic-COVID-19-Newsom-15278727.php

May 19, 2020

CALIFORNIA NEWS

California Analyst Slams Plan to Limit School Pension Payments
https://news.bloomberglaw.com/employee-benefits/california-analyst-slams-plan-to-limit-school-pension-payments

NATIONAL NEWS

Underfunded pensions make GOP leaders reluctant to send federal aid to states like California
https://www.mcclatchydc.com/news/politics-government/congress/article242761156.html

A Smart Pension Manager Sold Apple, GE, and Gilead Stock. Here’s What It Bought.
https://www.barrons.com/articles/a-smart-pension-manager-sold-apple-ge-and-gilead-stock-spy-etf-51589408831

Hawaii public pension fund suffers worst quarterly loss in years
https://www.kitv.com/story/42143970/hawaii-public-pension-fund-suffers-worst-quarterly-loss-in-years

May 18, 2020

CALIFORNIA NEWS

Facing pension crisis, Montebello to take on debt
https://www.whittierdailynews.com/2020/05/15/facing-pension-crisis-montebello-to-take-on-debt/

Newsom says California budget deficit is a direct result of COVID-19
https://www.cnn.com/2020/05/17/politics/gavin-newsom-california-budget-deficit-coronavirus-cnntv/index.html

NATIONAL NEWS

How lawmakers can raise teacher pay without decimating pension funds
https://www.forbes.com/sites/margueriteroza/2020/05/18/how-lawmakers-can-raise-teacher-pay-without-decimating-pension-funds/#28fc07526ec0

Biggest US pension sold Facebook, Bank of America, and Disney stock. Here’s what it bought.
https://www.barrons.com/articles/biggest-u-s-pension-sold-facebook-bank-of-america-disney-stock-verizon-51589376715

Hidden in the HEROES Act, a new multiemployer pension plan bailout
https://www.forbes.com/sites/ebauer/2020/05/15/hidden-in-the-heroes-act-a-new-multiemployer-pension-plan-bailout/#46c0da0342dd

Hawaii pension fund suffers worst quarterly loss since 2002
https://www.staradvertiser.com/2020/05/17/hawaii-news/state-pension-fund-suffers-worst-loss-since-02/

The surprising reasons these Midwest states are the last bastion of retirement plans
https://www.washingtonpost.com/business/2020/05/16/surprising-reasons-these-midwest-states-are-last-bastion-retirement-plans/

City of Flagstaff looks to refinance public safety pension debt
https://azdailysun.com/news/local/city-of-flagstaff-looks-to-refinance-public-safety-pension-debt/article_106869e2-0f6c-5039-8624-75c3ae8fa677.html

Senate passes bill that would give state retirees increase in pension benefits
https://www.tulsaworld.com/news/senate-passes-bill-that-would-give-state-retirees-increase-in-pension-benefits/article_120d186a-6c5a-58a8-9ed3-4cbe3bceb3b9.html

May 15, 2020

CALIFORNIA NEWS

Gov. Gavin Newsom’s revised California budget cuts may cap film and TV tax credits, cuts pensions, raises taxes, spends reserves
https://deadline.com/2020/05/gavin-newsoms-revised-california-budget-cuts-pensions-spends-reserves-extends-carryover-film-credits-1202934807/

NATIONAL NEWS

Pension reform: Don’t let inaction ruin the recovery
https://thehill.com/blogs/congress-blog/economy-budget/497859-pension-reform-dont-let-inaction-ruin-the-recovery

Editoral: SC judges’ pension increase went too far; lawmakers need to dial back
https://www.postandcourier.com/opinion/editorials/editorial-sc-judges-pension-increase-went-too-far-lawmakers-need-to-dial-back/article_4c995180-93aa-11ea-9815-0b94a31a6864.html

NY’s pensions help fund Florida’s economy: Ungrateful Sunshine state pols forget the billions New Yorkers pay annually
https://www.nydailynews.com/opinion/ny-oped-nys-pensions-help-fund-floridas-economy-20200514-fick6xmxhzbxfldkyyfbwup2s4-story.html

May 14, 2020

CALIFORNIA NEWS

Coronavirus shutdown forced inevitable cuts, fiscal expert says
https://www.surfsantamonica.com/ssm_site/the_lookout/news/News-2020/May-2020/05_13_2020_Coronavirus_Shutdown_Forced_Inevitable_Cuts.html

Solar roofing company loses $5.3 million pension battle
https://news.bloomberglaw.com/employee-benefits/solar-roofing-company-loses-5-3-million-pension-battle

NATIONAL NEWS

Auditors: CT continues to pay millions of $ in pension benefits above legal limits
https://ctmirror.org/2020/05/13/auditors-ct-continues-to-pay-millions-of-in-pension-benefits-above-legal-limits/

Drop in New Jersey lottery proceeds could affect state’s pension contribution
https://www.pionline.com/pension-funds/drop-new-jersey-lottery-proceeds-could-affect-states-pension-contribution

Solar roofing company loses $5.3 million pension battle
https://news.bloomberglaw.com/employee-benefits/solar-roofing-company-loses-5-3-million-pension-battle

Milwaukee fund has enough assets to pay out 13.4 years of pension benefits, study finds
https://www.thecentersquare.com/wisconsin/milwaukee-fund-has-enough-assets-to-pay-out-13-4-years-of-pension-benefits-study/article_2688bffe-8fa3-11ea-b8ed-afe194fd4cd9.html

Big boosts for families, pensions, blue states in new virus aid proposal
https://www.rollcall.com/2020/05/12/big-boosts-for-families-pensions-blue-states-in-new-virus-aid-proposal/

Democrats pack pension relief in virus aid bill GOP opposes
https://news.bloomberglaw.com/employee-benefits/democrats-pack-pension-relief-in-virus-aid-bill-gop-opposes

May 13, 2020

CALIFORNIA NEWS

Slammed economically by the coronavirus, Santa Monica offers grime preview of crisis to come
https://www.latimes.com/california/story/2020-05-12/coronavirus-santa-monica-economic-impact-recession

President Trump orders federal retirement funds invested in C Chinese equities to be pulled
https://californiaglobe.com/section-2/president-trump-orders-federal-retirement-funds-invested-in-chinese-equities-to-be-pulled

NATIONAL NEWS

Big boosts for families, pensions, blue states in new virus aid proposal
https://www.rollcall.com/2020/05/12/big-boosts-for-families-pensions-blue-states-in-new-virus-aid-proposal/

Public pensions swoon in worst quarter since credit crisis
https://www.bloomberg.com/news/articles/2020-05-12/public-pensions-swoon-in-worst-quarter-since-financial-crisis

NJ’s troubled public pension fund piled up more debt before coronavirus crisis
https://www.nj.com/politics/2020/05/njs-troubled-public-pension-fund-piled-up-more-debt-before-coronavirus-crisis.html

Public pension plans face negative returns, lower funding levels
https://www.pionline.com/pension-funds/public-pension-plans-face-negative-returns-lower-funding-levels

Big boosts for families, pensions, blue states in new virus aid proposal
https://www.rollcall.com/2020/05/12/big-boosts-for-families-pensions-blue-states-in-new-virus-aid-proposal/

 

May 12, 2020

CALIFORNIA NEWS

Cal pension systems are headed to BK but not due to C-19 losses
https://californiaglobe.com/section-2/cal-pension-systems-are-headed-to-bk-but-not-due-to-c-19-losses/

NATIONAL NEWS

GOP split over state aid that could mostly go to democratic strongholds
https://www.nytimes.com/2020/05/11/us/politics/state-aid-coronavirus-congress.html

Do we qualify for the New Jersey pension exclusion
https://www.nj.com/advice/2020/05/do-we-qualify-for-the-new-jersey-pension-exclusion.html

Sharf: Denver’s public pension problem
https://pagetwo.completecolorado.com/2020/05/11/sharf-a-look-at-denvers-public-pension-problem/

New study puts Connecticut’s teacher pension debt at $50 billion
https://yankeeinstitute.org/2020/05/11/new-study-puts-connecticuts-teacher-pension-debt-at-50-billion/

May 11, 2020

CALIFORNIA NEWS

California pension spiking case nears end in court showdown
https://www.ai-cio.com/news/california-pension-spiking-case-nears-end-court-showdown/

Newsom says state budget fine if California receives more help for feds; policy group says pension reform needed
https://www.thecentersquare.com/california/newsom-says-state-budget-fine-if-california-receives-more-help-from-feds-policy-group-says/article_9b50c362-9170-11ea-95d3-5f807940db87.html/

California just revealed a $54.3 billion deficit – signaling deep cuts ahead
https://www.paloaltoonline.com/news/2020/05/10/california-just-revealed-a-543-billion-deficit–signaling-deep-cuts-ahead

Newsom $25 million COVID-19 budget deficit
https://www.latimes.com/opinion/story/2020-05-10/newsom-25-million-covid-19-budget-deficit

County pension board names Interim CEO, lays out criteria for permanent leader
https://www.sandiegouniontribune.com/news/watchdog/story/2020-05-09/county-pension-board-names-interim-ceo-lays-out-criteria-for-permanent-leader

NATIONAL NEWS

A giant pension bought up Uber and Lyft stock. Here’s what it sold.
https://www.barrons.com/articles/a-giant-pension-bought-up-uber-and-lyft-stock-amd-nike-51588955521

U.S. pension funds continue to lurch toward bonds amid coronavirus pandemic
https://www.axios.com/us-pension-funds-bonds-coronavirus-a9b6bdd9-e9ac-4486-aff8-a52f01fda69b.html

Congress must compromise now to save our pensions and avoid broader economic harm
https://www.desmoinesregister.com/story/opinion/columnists/iowa-view/2020/05/08/pension-shortfalls-affect-everybody-congress-needs-act/3075666001/

Huge raises for SC judges and solicitors caused $100 million damage to pension plan
https://www.postandcourier.com/news/huge-raises-for-sc-judges-and-solicitors-caused-100-million-damage-to-pension-plan/article_a61b44fc-8667-11ea-b2d3-b3db7bf75996.html

Pension debt, fiscal mismanagement, and why state/local bailout requests are so maddening
https://www.forbes.com/sites/ebauer/2020/05/10/pension-debt-fiscal-mismanagement-and-why-statelocal-bailout-requests-are-so-maddening/#627226e13b89

Pandemics come and pandemics go, but this ailment never leaves
https://www.chicagobusiness.com/greg-hinz-politics/pandemics-come-and-pandemics-go-ailment-never-leaves

May 8, 2020

CALIFORNIA NEWS

Orange County cities are facing a financial mess
https://www.ocregister.com/2020/05/07/orange-county-cities-are-facing-a-financial-mess/

Opinion: California faces pensions budget fires after COVID-19
https://www.mercurynews.com/2020/05/07/opinion-california-faces-pensions-budget-fires-after-covid-19/

California Supreme Court weighs in on timely pension case
https://www.ocregister.com/2020/05/07/california-supreme-court-weighs-timely-pension-case/

NATIONAL NEWS

Mitch McConnell rallies Americans to support state and local pensions
https://www.forbes.com/sites/edwardsiedle/2020/05/07/mitch-mcconnell-rallies-americans-to-support-state-and-local-pensions/#917f577599ac

U.S. pension funds continue to lurch toward bonds amid coronavirus pandemic
https://www.axios.com/us-pension-funds-bonds-coronavirus-a9b6bdd9-e9ac-4486-aff8-a52f01fda69b.html

May 7, 2020

CALIFORNIA NEWS

California high court hears suit on 2012 pension reform law
https://www.latimes.com/california/story/2020-05-05/public-pensions-reform-law-california-supreme-court

California high court hears pension reform arguments
https://www.pionline.com/courts/california-high-court-hears-pension-reform-arguments

Marin Voice: Understanding school pension liabilities key to fixing problem
https://www.marinij.com/2020/05/06/marin-voice-understanding-school-pension-liabilities-key-to-fixing-problem/

NATIONAL NEWS

Public pension funds are a net gain for state and local revenue – study
https://www.pionline.com/pension-funds/public-pension-funds-are-net-gain-state-and-local-revenue-study

Denver Health Retirees Ordered to Repay $11 million in pension benefits
https://denver.cbslocal.com/2020/05/04/denver-health-pension-benefits/

New York braces for negative impact on state pensions due to COVID-19 pandemic
https://cbs6albany.com/news/coronavirus/new-york-braces-for-negative-impact-on-state-pensions-due-to-covid-19-pandemic

More than 1,600 retired Connecticut state employees receive six-figure pensions
https://yankeeinstitute.org/2020/05/05/more-than-1600-retired-connecticut-state-employees-receive-six-figure-pensions/

Opinion: States created their own pension debt mess
https://www.wsj.com/articles/states-created-their-own-pension-debt-mess-11588801479

Opinion: Hey, Mitch McConnell — Have you seen your state’s pension fund lately
https://www.marketwatch.com/story/hey-mitch-mcconnell-have-you-seen-your-states-pension-fund-lately-2020-05-05

May 5, 2020

NATIONAL NEWS

Economic downturn could hit public pension funds hard
https://www.civilbeat.org/2020/05/economic-downturn-could-hit-public-pension-funds-hard/

Denver health retirees ordered to repay $11 million in pension benefits
https://denver.cbslocal.com/2020/05/04/denver-health-pension-benefits/

State pensions at lowest funded level in 30 years
https://www.plansponsor.com/state-pensions-lowest-funded-level-30-years/

 

May 4, 2020

CALIFORNIA NEWS

Editorial: Pension-spiking showdown at California Supreme Court
https://www.mercurynews.com/editorial-pension-spiking-showdown-at-california-supreme-court

NATIONAL NEWS

US State pension system hit hard by coronavirus pandemic
https://www.ft.com/content/390f168b-1adc-4ba2-86e3-cbd839394c2b

A state pension bailout even Mitch McConnell Can Support
https://www.forbes.com/sites/edwardsiedle/2020/05/01/a-state-pension-bailout-even-mitch-mcconnell-can-support/#983f80b34909

Flexibility, not bankruptcy
https://www.pionline.com/editorial/flexibility-not-bankruptcy

American Airlines to defer pension contributions under CARES Act
https://www.pionline.com/pension-funds/american-airlines-defer-pension-contributions-under-cares-act

Opinion: How the pandemic will hit local government pension systems
https://www.bridgemi.com/guest-commentary/opinion-how-pandemic-will-hit-local-government-pension-systems

Opinion: Teachers don’t get “free pensions”
https://www.njherald.com/opinion/20200501/teachers-dont-get-free-pensions

May 1, 2020

CALIFORNIA NEWS

Will pensions be on the chopping block in a recession? California Supreme Court to hear
https://www.sacbee.com/news/politics-government/the-state-worker/article242390791.html

An extended lockdown may devastate California cities
http://www.foxandhoundsdaily.com/2020/04/an-extended-lockdown-may-devastate-california-cities/

NATIONAL NEWS

White House to block federal pension fund from expanding China investments
https://wjla.com/news/nation-world/exclusive-white-house-to-block-federal-pension-fund-from-expanding-china-investments

What employers might expect multiemployer pension plans following COVID-19 crisis
https://www.natlawreview.com/article/what-employers-might-expect-multiemployer-pension-plans-following-covid-19-crisis

April 30, 2020

CALIFORNIA NEWS

Hiltzik: Conservatives use crisis to attack public workers
https://www.latimes.com/business/story/2020-04-24/coronavirus-public-worker-pensions

Letter: Time to end fixed pensions for public employees
https://www.redbluffdailynews.com/2020/04/29/letter-time-to-end-fixed-pensions-for-public-employees/

NATIONAL NEWS

N.J. could slash or delay public workers pension payment, ratings agency warns
https://www.nj.com/coronavirus/2020/04/nj-could-slash-or-delay-public-worker-pension-payment-ratings-agency-warns.html

Amid coronavirus pandemic, bailout states but not irresponsible pension funds
https://www.usatoday.com/story/opinion/todaysdebate/2020/04/28/coronavirus-bail-out-states-not-irresponsible-pension-funds-editorials-debates/3034944001/

Opinion: ‘Donor’ States and Bailing Out Basket Cases
https://www.wsj.com/articles/donor-states-and-bailing-out-basket-cases-11588187501

Opinion: Allowing states to declare bankruptcy no panacea to state budget woes
https://www.pe.com/2020/04/29/allowing-states-to-declare-bankruptcy-no-panacea-to-state-budget-woes/

No Aid for ailing state pension funds
https://www.nujournal.com/opinion/2020/04/30/no-aid-for-ailing-state-pension-funds/

April 29, 2020

NATIONAL NEWS

Pension Bailout of Bankruptcy? That’s Missing the Bigger Picture
https://www.forbes.com/sites/ebauer/2020/04/28/pension-bailout-or-bankruptcy-thats-missing-the-bigger-picture/#5556832a14ed

Editorial: McConnell’s reckless COVID-19 bailout claim on pensions
https://www.mercurynews.com/editorial-mcconnells-reckless-covid-19-bailout-claim-on-pensions

Nice $200,000 Pensions if you can get them. Bailout Time?
https://www.forbes.com/sites/baldwin/2020/04/28/nice-200000-pensions-if-you-can-get-them-bailout-time/#68f57bec5eb6

What the Economic Downturn Could Mean for Pension Plans
https://www.morningstar.com/articles/980630/what-the-economic-downturn-could-mean-for-pension-plans

April 28, 2020

CALIFORNIA NEWS

California issues more details on unemployment for the self-employed https://www.sfchronicle.com/business/networth/article/California-issues-more-details-on-unemployment-15230082.php

California’s post-corona challenges
https://www.newgeography.com/content/006623-californias-post-corona-challenges

NATIONAL NEWS

Why Illinois is in trouble
https://www.forbes.com/sites/adamandrzejewski/2020/04/27/why-illinois-is-in-trouble–109881-public-employees-with-100000-paychecks-cost-taxpayers-14b/#58ffc6fb7ee9

NY pension fund to loan $50M to small, struggling businesses
https://www.newsday.com/business/coronavirus/pension-loan-retirement-fund-1.44208409

Mitch McConnell wants to destroy public employee pensions, but he can’t
https://www.cityandstateny.com/articles/policy/labor/mitch-mcconnells-wants-destroy-public-employee-pensions-he-cant.html

Baltimore County settles age discrimination lawsuit regarding pension plan
https://www.plansponsor.com/baltimore-county-settles-age-discrimination-lawsuit-regarding-pension-plan/

Dallas police pension withdrawal change upheld by fifth circuit
https://news.bloomberglaw.com/employee-benefits/dallas-police-pension-withdrawal-change-upheld-by-fifth-circuit

April 27, 2020

CALIFORNIA NEWS

Check out your state — and maybe sell its tax-exempt bonds
https://www.forbes.com/sites/baldwin/2020/04/26/check-out-your-state-and-maybe-sell-its-tax-exempt-bonds/#d1f291b4b410

California’s post-corona challenges
https://www.newgeography.com/content/006623-californias-post-corona-challenges

State budget sinking and big cuts coming
https://www.ocregister.com/2020/04/24/state-budget-sinking-and-big-cuts-coming/

Pensions leave cities with bankruptcy as their life raft
https://www.ocregister.com/2020/04/24/pensions-leave-cities-with-bankruptcy-as-their-life-raft/

NATIONAL NEWS

Teacher pensions took a beating in the Great Recession and passed the costs on to new employees. It’s probably going to happen again.
https://www.the74million.org/article/aldeman-teacher-pensions-took-a-beating-in-the-great-recession-and-passed-the-costs-on-to-new-employees-its-probably-going-to-happen-again/

The COVID-19 economic collapse is absolutely wrecking state pension systems
https://reason.com/2020/04/24/the-covid-19-economic-collapse-is-decimating-state-pension-systems/

As coronavirus devastates state budgets, conservatives target worker pensions
https://www.latimes.com/business/story/2020-04-24/coronavirus-public-worker-pensions

Oregon’s pension bet big on Tesla and GE stock. Here’s what it sold.
https://www.barrons.com/articles/oregons-pension-bet-big-on-tesla-and-ge-stocks-what-it-sold-retirement-51587651610

Hey, teachers, cops, etc. – Mitch McConnell wants your job, pension. Will he kill the GOp instead.
https://www.inquirer.com/opinion/commentary/mitch-mcconnell-let-states-go-bankrupt-pensions-layoffs-20200426.html

Pension bombs are states’ own fault and other commentary
https://nypost.com/2020/04/24/pension-bombs-are-states-own-fault-and-other-commentary/

April 24, 2020

CALIFORNIA NEWS

Petaluma takes action on pension reform
https://www.petaluma360.com/home/a1/10914632-181/petaluma-takes-action-on-pension

NATIONAL NEWS

States made risky best with pensions before coronavirus. Now they want a bailout.
https://freebeacon.com/policy/states-made-risky-bets-with-pensions-before-coronavirus-now-they-want-a-bailout/

Rhode Island pension investments suffer loses amid pandemic
https://www.thetelegraph.com/news/article/Rhode-Island-pension-investments-suffer-loses-15222078.php

Why Congress should reject Illinois’ $44 billion bailout request
https://www.illinoispolicy.org/why-congress-should-reject-illinois-44-billion-bailout-request/

April 23, 2020

CALIFORNIA NEWS

California pension fund board slams China linked CIO for selling off hedges ahead of coronavirus market downturn
https://www.nationalreview.com/news/california-pension-fund-board-slams-china-linked-cio-for-selling-off-hedges-ahead-of-coronavirus-market-downturn/

NATIONAL NEWS

New York City pension funds urge JPMorgan shareholders to oust Lee Raymond
https://www.wsj.com/articles/new-york-city-pension-funds-urge-jpmorgan-shareholders-to-oust-lee-raymond-11587591444

Pa. teachers’ pensions are invested in a NYC skyscraper linked to Jared Kushner, but they probably don’t know it
https://www.inquirer.com/news/pennsylvania/spl/pennsylvania-teacher-pensions-jared-kushner-nyc-skyscraper-20200422.html

Pritzker rejects bankruptcy idea to get out of pension debt
https://www.miamiherald.com/entertainment/celebrities/article242219791.html

Pension fund weathering storm of pandemic, markets
https://www.heraldnews.com/news/20200422/pension-fund-weathering-storm-of-pandemic-markets

District of Columbia retirement seeks pension administrator
https://www.pionline.com/pension-funds/district-columbia-retirement-seeks-pension-administrator

April 22, 2020

CALIFORNIA NEWS

Coronavirus crisis could cost Riverside County at least $80 million
https://www.pe.com/2020/04/21/coronavirus-crisis-could-cost-riverside-county-at-least-80-million/

No gain, lots of pain
https://www.city-journal.org/stock-market-downturn-govt-pension-funds

NATIONAL NEWS

$10 billion Illinois pension bailout request ignites controversy
https://www.ai-cio.com/news/10-billion-illinois-pension-bailout-request-ignites-controversy/

Feds need to help New Jersey public work pension system to survive coronavirus crisis
https://www.nj.com/coronavirus/2020/04/feds-need-to-help-nj-public-worker-pension-system-survive-coronavirus-crisis-sweeney-says.html

Intercontinental hotels can’t slip pension fund withdrawal suit
https://news.bloomberglaw.com/employee-benefits/intercontinental-hotels-cant-slip-pension-fund-withdrawal-suit

US public pension funding levels plunge to 66% in Q1
https://www.ai-cio.com/news/us-public-pension-funding-levels-plunge-66-q1/

Ongoing Story: Coronavirus impacts pension plan meetings
https://www.fin-news.com/2020/04/20/coronavirus-forces-pension-plan-meeting-cancellations/

 

April 21, 2020

CALIFORNIA NEWS

Put California pensions on a ventilator
https://www.bondbuyer.com/opinion/put-california-pensions-on-a-ventilator

El Cajon looking at bonds to help with rising pension costs
https://www.sandiegouniontribune.com/communities/east-county/el-cajon/story/2020-04-20/el-cajon-looking-at-bonds-to-help-with-rising-pension-costs

NATIONAL NEWS

Coronavirus will make America’s cities feel the pressure of pension debt
https://www.marketwatch.com/story/coronavirus-will-make-americas-cities-feel-the-pressure-of-pension-debt-2020-04-20

GOP Illinois Congressmen blister state Senate Democrats using COVID-19 as excuse for pension bailout
https://chicago.suntimes.com/politics/2020/4/20/21228383/gop-illinois-congress-blister-state-democrats-using-covid-19-excuse-pension-bailout

Premier Foods serving up pension fund merger
https://www.pionline.com/pension-funds/premier-foods-serving-pension-fund-merger

US public pension funding levels plunge to 66% in Q1
https://www.ai-cio.com/news/us-public-pension-funding-levels-plunge-66-q1/

Ongoing Story: Coronavirus impacts pension plan meetings
https://www.fin-news.com/2020/04/20/coronavirus-forces-pension-plan-meeting-cancellations/

 

April 20, 2020

Public pensions survived the Great Recession. They will survive coronavirus, too
https://www.sacbee.com/opinion/article242012786.html 

CALIFORNIA NEWS

California schools ask for pension relief, more funding to cope with coronavirus costs
https://www.sacbee.com/news/local/education/article242100986.html

Pasadena expects significant and prolonged economic losses from coronavirus https://www.pasadenastarnews.com/2020/04/19/pasadena-expects-significant-and-prolonged-economic-losses-from-coronavirus/

Coronavirus: Oakland auditor says city must move quickly to avoid fiscal crisis
https://www.eastbaytimes.com/2020/04/17/coronavirus-oakland-auditor-says-city-must-move-quickly-to-avoid-fiscal-crisis/

NATIONAL NEWS

Illinois pension bailout request reaction roundup and why it’s a non-starter
https://www.forbes.com/sites/ebauer/2020/04/20/illinois-pension-bailout-request-reaction-roundupand-why-its-a-nonstarter/#2d6a3ce16c2a

How pension ‘double dippers’ exploit New York’s taxpayers
https://nypost.com/2020/04/19/how-pension-double-dippers-exploit-new-yorks-taxpayers/

Unions, employers want pension relief included in coronavirus aid talks
https://www.rollcall.com/2020/04/17/unions-employers-pitch-pension-relief-in-coronavirus-aid-talks/

The next COVID-19 victim? Public pension funds.
https://www.washingtonpost.com/outlook/2020/04/17/next-covid-19-victim-public-pension-funds/

April 16, 2020

CALIFORNIA NEWS

San Diego mayor proposes deep cuts to close $250 million revenue gap due to coronavirus
https://www.latimes.com/california/story/2020-04-15/san-diego-mayor-proposes-budget-cuts-coronavirus

NATIONAL NEWS

How well-funded are pension plans in your state?
https://taxfoundation.org/state-public-pension-plan-funding-coronavirus/

‘We need to start saving individual people.’ not just stockholders, says pension fund CIO
https://www.cnbc.com/2020/04/15/calstrs-christopher-ailman-help-individuals-not-just-stockholders.html

Lottery revenue slump deals blow to New Jersey pension fund
https://www.pionline.com/pension-funds/lottery-revenue-slump-deals-blow-new-jersey-pension-fund

Athene fined $45 million for unlicensed pension risk transfers
https://www.ai-cio.com/news/athene-fined-45-million-unlicensed-pension-risk-transfers/

April 13, 2020

NATIONAL NEWS

Why National Pension Systems Are a Ticking Time Bomb: QuickTake
https://www.bloomberg.com/news/articles/2020-04-09/why-national-pension-systems-are-a-ticking-time-bomb-quicktake?srnd=new-economy-forum

April 8, 2020

NATIONAL NEWS

Does multiemployer pension reform belong in a ‘phase 4’ coronavirus bill?
https://www.forbes.com/sites/ebauer/2020/04/07/does-multi-employer-pension-reform-belong-in-a-phase-four-coronavirus-bill/#1290625852b8

Tennessee public-pension system loses value in pandemic, but is in better shape than most states
https://www.thecentersquare.com/tennessee/tennessee-public-pension-system-loses-value-in-pandemic-but-is-in-better-shape-than-most/article_24a4f2aa-7853-11ea-a353-0b74d5b3f72d.html

Economic drought could add billions to Virginia public-pension liability
https://www.thecentersquare.com/virginia/economic-drought-could-add-billions-to-virginia-public-pension-liability/article_6b13aeec-78f4-11ea-b5d4-4b726f2b1382.html

Volatile market tests Oregon’s strategy for public-pension fund investments
https://pamplinmedia.com/pt/9-news/461417-375012-volatile-market-tests-oregons-strategy-for-public-pension-fund-investments

Hamden mayor’s proposed budget raises taxes, pays fully into pension
https://www.nhregister.com/metro/article/Hamden-mayor-s-proposed-budget-raises-taxes-15185444.php

How will COVID-19 crisis affect Illinois’ pensions? Experts at odds
https://www.thecentersquare.com/illinois/how-will-covid-19-crisis-affect-illinois-pensions-experts-at-odds/article_f6cbe630-7844-11ea-9f1e-07a901f85ce0.html

April 7, 2020

CALIFORNIA NEWS

Attorneys apologize in bid to duck sanctions for rule-breaking
https://www.law360.com/benefits/articles/1260697/attys-apologize-in-bid-to-duck-sanctions-for-rule-breaking

Schmitt to retire as San Ramon Valley Unified’s superintendent
https://www.eastbaytimes.com/2020/04/06/san-ramon-valley-district-superintendent-schmitt-announces-retirement/

Recent stock market losses may spike local pension costs, but not immediately
https://www.sandiegouniontribune.com/news/politics/story/2020-04-06/recent-stock-market-losses-may-s-local-pension-costs-but-not-immediately

NATIONAL NEWS

Retired N.J. public workers can return to help coronavirus fight without pension implications, Murphy says
https://www.nj.com/coronavirus/2020/04/retired-nj-public-employees-can-return-to-work-under-executive-order-without-risking-pension-murphy-says.html

Corporate pensions face underfunding problems because of the coronavirus crisis. What to watch.
https://www.barrons.com/articles/corporate-pensions-face-underfunding-problems-because-of-the-coronavirus-crisis-what-to-watch-this-earnings-season-51586167200

State probe finds retired Boston school administrator owes city pension fund $67k
https://www.bostonglobe.com/2020/04/07/metro/state-probe-finds-retired-boston-school-administrator-owes-city-pension-fund-67k/

 

April 3, 2020

CALIFORNIA NEWS

Santa Barbara COunty Employee Retirement System Takes Big Pension Hit
https://www.noozhawk.com/article/santa_barbara_county_employee_retirement_systems_takes_big_pension_hit

NATIONAL NEWS

Pension Funds Will Take a Big Coronavirus Hit
https://www.bloomberg.com/opinion/articles/2020-04-01/pension-funds-will-take-a-big-coronavirus-hit

Coronavirus is the Tipping Point That Just Upended Pensions
https://marker.medium.com/coronavirus-is-the-tipping-point-that-just-upended-pensions-2c301a2d09ab

Pensions in a Pandemic: Is One Man’s Bailout Another Man’s Pension Funding Relief?
https://www.forbes.com/sites/ebauer/2020/04/02/pensions-in-a-pandemic-is-one-mans-bailout-is-another-mans-pension-funding-relief/#267afa947617

Coronavirus guts pension funding levels
https://www.benefitspro.com/2020/04/02/coronavirus-guts-pension-funding-levels/

COVID-19 takes bite out of U.S. corporate pension plans
https://www.globenewswire.com/news-release/2020/04/02/2010895/0/en/COVID-19-takes-bite-out-of-U-S-corporate-pension-plans.html

Steady pension funding improvements since financial crisis
https://www.pionline.com/interactive/steady-pension-funding-improvements-financial-crisis

The Public Sector Pension Investment Board makes strategic investment in SitusAMC
https://apnews.com/PR%20Newswire/67fc6ebe3e45512c368443b128560b56

New Jersey makes pension contribution despite coronavirus upheaval
https://www.pionline.com/pension-funds/new-jersey-makes-pension-contribution-despite-coronavirus-upheaval

Peoria Firefighters Pension Fund Prepares for “Worst-Case Scenario”
https://www.wglt.org/post/peoria-firefighters-pension-fund-prepares-worst-case-scenario#stream/0

Vermont National Guard on a COVID-19 Mission, Printed PPE, Pension Funds and Hungry Bears
https://www.vpr.org/post/vermont-national-guard-covid-19-mission-printed-ppe-pension-funds-and-hungry-bears#stream/0

Kentucky budget keeps higher education funding steady, won’t increase pension burden
https://wkuherald.com/coronavirus/kentucky-budget-keeps-higher-education-funding-steady-wont-increase-pension-burden/article_a404c924-7526-11ea-b8b0-5fc60ef596f2.html

No new cases; state freezes pensions for quasi-government agencies
https://www.richmondregister.com/news/coronavirus/no-new-cases-state-freezes-pensions-for-quasi-government-agencies/article_f551bec3-13b9-5ba5-8bc7-c90a3744c251.html

April 1, 2020

NATIONAL NEWS

Private sector workers/retirees, is your pension plan at risk from the coronavirus crisis?
https://www.forbes.com/sites/ebauer/2020/03/30/private-sector-workersretirees-is-your-pension-plan-at-risk-from-the-coronavirus/#5bd488107873

How New York City pension funds are vulnerable to coronavirus hit
https://www.bondbuyer.com/news/how-new-york-city-pension-funds-are-vulnerable-to-coronavirus-hit

Milliman analysis: Estimated cost of retiree pension risk transfer climbs from 104.6% to 105.2% in February
https://finance.yahoo.com/news/milliman-analysis-estimated-cost-retiree-163000957.html

Murphy: NJ will make its scheduled pension payment amid coronavirus outbreak
https://www.burlingtoncountytimes.com/news/20200331/murphy-nj-will-make-its-scheduled-pension-payment-amid-coronavirus-outbreak

NYC pension system negotiates deals with 5 firms on gender discrimination
https://www.pionline.com/governance/nyc-pension-system-negotiates-deals-5-firms-gender-discrimination