State Sponsored Plans
Some states and cities have found that cutting cost-of-living adjustments (COLAs) to the pensions they provide their employees is a way to loosen the financial vise of pension liabilities and a shaky economy. The Center for Retirement Research of Boston College in its recent study, “COLA Cuts in...
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Reacting to a forensic investigation initiated by state employees, North Carolina’s $87 billion state pension system may be moving from a sole trustee to a board soon. As reported in P&I, a panel convened by State Treasurer Janet Cowell (D) is recommending the change amid allegations set forth...
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State pension plans face continuing and growing challenges in fulfilling the promises they have made to their employees — to the tune of a collective $915 billion. The Pew Charitable Trust has issued a new report that serves as a wake-up call to state governments, but it does contain a kernel of...
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The Office of State and Local Finance, Treasury Department’s newest, is charged with coordinating oversight of state and local financial bond markets, but that’s not all — it also will monitor public pension fund liabilities, Pensions & Investments reports. According to P&I, a Treasury...
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The news about public-sector pension plans has not been good, and a reputable crystal ball does not see improvement in sight. The “Pension Pulse” blog reports that Berkshire Hathaway Chief Executive Warren Buffett has warned in a letter to Berkshire shareholders that promises local and state...
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