18 07, 2018

Pension Plan Rescue Legislation Getting Tough to Price

2018-07-18T11:24:15-07:00July 18th, 2018|Categories: Pension Reform|Tags: , , |

An effort to shore up troubled pension plans for many middle-class workers comes with a squishy price tag. A bill (S 2147) by Sen. Sherrod Brown, D-Ohio, would create a Pension Rehabilitation Administration within the Treasury Department that could make loans to multiemployer pension plans for union workers. Those plans have been estimated to be underfunded by about $65 billion, endangering the retirements of about 1.5 million residents nationwide. The Congressional Budget Office had provided a preliminary estimate several [...]

26 04, 2018

Sen. Sherrod Brown Pushes Pension Protections

2018-04-26T09:35:37-07:00April 26th, 2018|Categories: Pension Reform|Tags: , , |

U.S. Senator Sherrod Brown, of Ohio, who has been sounding the alarm on a pending pension crisis and was named co-chair of the newly-formed Joint Select Committee on the Solvency of Multiemployer Pension Plans, spoke at a National Press Club in Washington, D.C.  Sen. Brown continues to work to strengthen and improve programs that protect senior citizens, so future generations can enjoy retirement with a sense of security. Source: GoIAM.org

21 12, 2017

Scores injured as violent protests breakout against pension reform plans

2017-12-21T10:16:53-08:00December 21st, 2017|Categories: Pension Reform|Tags: |

Argentine lawmakers passed the controversial pension legislation Tuesday in a 128 to 116 vote after debating for more than 12 hours. The bill, which had already passed the Senate, angered many retirees and sparked huge protests on the streets of Buenos Aires on Monday night. Masked demonstrators hurled firecrackers, bottles and gasoline bombs at police officers guarding the Congress building. Security forces in the Argentine capital responded with water canons and fired rubber bullets at demonstrators. According to reports, as many [...]

21 12, 2017

Brazil Tries to Avert Credit Downgrade as Pension Reform Doubts Grow

2017-12-21T10:13:37-08:00December 21st, 2017|Categories: Pension Reform|Tags: , |

Brazil’s Finance Minister Henrique Meirelles will speak to major credit rating agencies on Thursday as the government scrambles to avoid a sovereign debt downgrade due to growing doubts that its proposed pension reform can rein in surging public debt. A vote on the unpopular bill to overhaul the social security system, seen as vital to closing the fiscal deficit, has been delayed to 2018 after failing to muster support in Congress. Lawmakers have warned that handling the hot-button issue [...]

21 12, 2017

Pension Reform Comes In Many Shapes And Sizes

2017-12-21T10:10:48-08:00December 21st, 2017|Categories: Pension Reform|Tags: |

Albert Einstein once said we cannot solve our problems with the same level of thinking that created them. Unfortunately, when it comes to the nation’s struggling public pensions, now more than $1 trillion in debt, that’s exactly what’s been happening. For years, state and local policymakers have been trying to keep their heads above water, while ignoring the coming pension debt tsunami. That is until recently. Over the past year, three states have made the tough decision to tackle [...]

8 11, 2017

Brazil’s pension reform can be approved in 2018, minister says

2017-11-08T18:48:26-08:00November 8th, 2017|Categories: Pension Reform|Tags: |

The pension overhaul proposed by Brazil’s government can be approved by Congress next year despite upcoming elections if there is no time to do so in 2017, Finance Minister Henrique Meirelles told journalists on Tuesday. Meirelles also said he expects to submit to Congress within two weeks a bill empowering creditors in debt restructuring processes. Source: Reuters

22 09, 2017

Pension reform part of 5-year roadmap to fiscal revamp

2017-09-22T21:13:05-07:00September 22nd, 2017|Categories: Pension Reform|Tags: |

The government will publish a five-year roadmap for pension reform which will include the introduction of an auto enrollment pension scheme, Leo Varadkar said last night. In a speech to employers group Ibec last night, the Taoiseach also said his Government will outlaw zero-hour contracts in new legislation which take precedence during this Dáil term. Mr Varadkar outlined pension reform as one of the five key principles of the Government’s economic policy and said this ‘roadmap’ will be published [...]

17 07, 2017

The “Pension Crisis” is a Myth, Part One

2017-07-17T15:38:37-07:00July 17th, 2017|Categories: Pension Reform|Tags: , , |

Since the Great Recession in 2008, warnings of an impending pension crisis have been splashed across the business pages of newspapers across the country. Despite these boisterous decrees, America’s public pension funds are stable. We explore the roots behind the false pension crisis narrative and examine the facts. Public pension plans have existed for more than a hundred years. Beginning in the late 19th century, cities and states started offering defined benefit pensions to ensure their employees would be able [...]

10 07, 2017

Pension reform will help Mich. teachers

2017-07-11T00:19:48-07:00July 10th, 2017|Categories: Pension Reform|Tags: |

Teaching in Michigan is about to become a lot more attractive. Recently enacted legislation will improve retirement choices for future teachers, increase compensation for some recently hired teachers, and ensure the state will pay every dollar of pensions promised to teachers. Costs of paying off the state’s rising teacher pension debt are scheduled to skyrocket and consume any future resources that could otherwise be used to increase teacher pay or get money into the classrooms. Absent reform, this debt [...]

30 05, 2017

GOP Lawmaker Pushing For Pension Reform

2017-05-30T23:14:26-07:00May 30th, 2017|Categories: Pension Reform|Tags: , |

A bill would require a vote of the public anytime a government entity decides to increase pension benefits paid to workers. Republican Assemblyman Bill Brough of Southern California argues that California’s unfunded pension debt is approaching half a trillion dollars, and without big changes, governments will be forced to cut benefits, raise taxes, or slash services. […]

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