Vermont governor vetoes pension reform bill, but override likely

By Margarida Correia Source: Pensions & Investments Vermont Gov. Phil Scott has vetoed legislation unanimously passed in the House and Senate to reform the state's pension systems for teachers and state employees. In a letter to lawmakers on Monday, Mr. Scott rebuked the bill, saying it "does not include enough structural change to solve the enormous unfunded liability problems the state faces." He raised concerns that despite adding $250 million in additional taxpayer money, the state in several years [...]

2022-05-04T08:35:37-07:00May 4th, 2022|Categories: Pension Reform|Tags: , |

House panel to weigh multiemployer pension reform bill

Legislation to help struggling multiemployer pension funds is to be considered this week by a key House panel as part of a COVID-19 relief measure. The House Ways and Means Committee is expected to start marking up a package of pandemic relief measures Wednesday, including one aimed at stabilizing pensions for more than 1 million participants in multiemployer plans approaching insolvency. The pension section of the proposed Emergency Pension Plan Relief Act of 2021 is cited as the "Butch [...]

2021-02-09T14:33:29-08:00February 9th, 2021|Categories: Multiemployer Plans|Tags: |

France invokes clause to push through pension reform

French Prime Minister Edouard Philippe has said the government invoked a special clause in the country’s Constitution to push through a controversial pension reform plan without a parliamentary vote. Speaking at the Lower House of Parliament, Philippe on Saturday announced his decision to use Article 49-3 to make into law the government’s pension reform bill, reports Xinhua news agency. The French goverment has planned to replace the current pension system of 42 regimes by a point-based single one with [...]

2020-03-02T15:00:13-08:00March 2nd, 2020|Categories: Pension Reform|Tags: , |
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