State Sponsored Plans

As the Illinois Supreme Court considers the constitutionality of the state’s pension plan reform law and Gov. Bruce Rauner (R) considers proposing a 401(k)-style pension plan for many government employees, local cities must address immediate challenges posed by their pension plans. Rauner’s... READ MORE

Many states and local government pension plans face funding challenges. At the same time, average longevity is increasing. Seems logical that retirees living longer would exacerbate those funding woes, but a recent study by the Center for State and Local Government Excellence, “How Will Longer... READ MORE

State pension plans are likely to continue affecting state budgets and funding, says Standard & Poors. In a study published March 24 on RatingsDirect, S&P indicated that the strains state pension plans face and cause are not likely to end any time soon.Among the factors upon which S&P... READ MORE

The Nevada State Assembly is considering legislation that would establish a new retirement plan for new public sector employees and expand all public employees’ choices regarding how their retirement plan funds are invested. The bills, AB 190 and AB 360, both are wending their way through committee... READ MORE

It’s not just public-sector retirement plan coverage that is generating attention in the Garden State — so is coverage in the private sector. The state Assembly and Senate, still in the midst of the debate over the state’s insolvent retirement plan, now are considering the New Jersey Secure Choice... READ MORE

Most states are making a good faith effort to meet their annual required contributions (ARCs) to their state pension systems. That’s the conclusion the National Association of State Retirement Administrators (NASRA), an association of the directors of state and territorial public retirement systems... READ MORE

Identical bills before both chambers of the Iowa legislature would end state taxation of pensions and other forms of retirement income — but only through 2020.HF 280 and SF 277 would remove from the Iowa income tax law two provisions that define income as including all forms of retirement income,... READ MORE

The New Jersey Pension and Health Benefits Study Commission has issued its findings and proposals for how the Garden State can address its seemingly intractable state pension funding problems.In a manner similar to the brash style of New Jersey Gov. Chris Christie (R), who created it, the... READ MORE

Legislation that would require Maryland employers to adopt payroll deduction savings plans for their employees got a full bicameral at a Feb. 25 hearing in the Maryland General Assembly.Both the Maryland House Economic Matters Committee and the Maryland Senate Budget and Taxation Committee... READ MORE