pensions
Chicago Schools Budget Uses Pension Overhaul to Close Gap
published Aug 8th 2016, 6:23 pm, by Elizabeth Campbell (Bloomberg) — Chicago school officials presented a budget that relies on the state of Illinois passing an overhaul of its underfunded pension system and assumes that the teachers’ union will agree to pay more into their retirement funds. The $5.4 billion
Illinois Governor Backs Some of Democratic Fix for Pension Funds
©2016 Bloomberg News O1BFY36JTSE8 (Bloomberg) — Illinois Governor Bruce Rauner endorsed parts of a Democrat-proposed plan to fix the nation’s worst- funded state pension system, a move that he says would save $1 billion a year and give workers greater choice. Flanked by Christine Radogno and Jim Durkin, the state’s
Record Budget Impasse Belies Fix to Pension Disaster in Illinois
©2015 Bloomberg News NZT9XL6KLVR9 (Bloomberg) — As 2015 draws to a close, Illinois marks half a year without a budget. No spending plan has driven up borrowing costs, sunk its credit rating, and perhaps worst of all, exacerbated the state’s biggest problem: its underfunded pensions. Home to the least-funded state
What to Expect If You’re Expecting Pension Checks: Megan McArdle
©2015 Bloomberg View NPZO826S972P (Bloomberg View) — I decided to bring back my old “Ask the Blogger” personal finance feature for today, so readers can ask questions and your humble columnist can answer them. I’m vested in the Kansas Public Employees Retirement System, with 18 years of service. I’m in
Bank Guilty Pleas Mess With Texas Pension Fund’s No-Felon Pledge
©2015 Bloomberg News NORU0OSYF01T (Bloomberg) — This just in: Texas pensions will, in fact, mess with felons. Last May the $26.2 billion Employee Retirement System of Texas responded to Credit Suisse Group AG’s guilty plea for tax fraud by saying that it had “a policy against hiring firms convicted of