State Sponsored Plans

The U.S. Census Bureau has issued data on revenues, expenditures, cash and investments, and membership data by state and local government for the period July 1, 2014-June 30, 2015. “Survey of Public Pensions: State- and Locally-Administered Defined Benefit Data” provides revenues, expenditures,... READ MORE

The Pennsylvania House of Representatives on June 8 revived legislation that would revise public sector pensions in the Keystone State.The measure, Senate Bill 1071, will be back under consideration, reports WTEA, but has not been passed by the chamber as a result of the 157-26 vote. The state... READ MORE

Connecticut Gov. Dannel Malloy (D) on May 27 signed into law the Connecticut Retirement Security Program Act (H.B. 5591), which establishes a state-run retirement plan. That came after a sometimes bumpy road to get the bill to his desk. Those machinations included a deadlocked Senate vote that... READ MORE

Our 50 states and myriad communities are highly varied in so many ways — and their governments’ spending on pension benefits reflect that diversity. A report by the National Association of State Retirement Administrators (NASRA) looks at how those governments spend on the pension plans they provide... READ MORE

Maryland Gov. Larry Hogan (R) signed into law legislation on May 10 that will create a state-run retirement plan for workers not covered by a retirement plan at work. The bill (SB 1007) establishes the Maryland Small Business Retirement Savings Program and Trust, which creates incentives to... READ MORE

Connecticut’s state-run retirement plan proposal barely got through the Democratic majority state legislature — but without some changes, it won’t get past the governor’s veto pen. Gov. Dannel P. Malloy (D) is on record saying that he intends to veto the legislation unless it is changed in an... READ MORE

It only took five years and a marathon debate session, but Connecticut’s House of Representatives has approved a state-run retirement program for private sector workers in the Nutmeg State. The so-called “retirement for all’” bill passed April 26 after a marathon debate on the House floor that... READ MORE

In Illinois, if you are an employer that likes your retirement plan, you can keep it.Despite some persistent rumors and underhanded marketing to the contrary, the Illinois Secure Choice Savings Program Act — enacted in early 2015 — provides that if an employer covered under the law already has a... READ MORE

Legislation pending in the Maryland General Assembly uses more carrot than stick to entice private employers in the state to offer a retirement savings program for their employees.If the employer meets the requirements in the legislation — namely that the business adopts or maintains either an auto... READ MORE