OK governor vetoes pension reform bill

By   /  May 14, 2013  /  News, Oklahoma, Pensions  /  No Comments

OPTING OUT: Gov. Mary Fallin told reporters the state will not expand Medicaid coverage according to Affordable Care Act guidelines, while restating support for a state lawsuit against the federal law, which is pending judicial review.

By Patrick B. McGuigan | CapitolBeatOK
OKLAHOMA CITY — Gov. Mary Fallin wanted to consolidate Oklahoma’s half-dozen employee pension funds, but did not happen this year.
And that likely contributed to her decision to veto a reform that would have shifted some government employees away from the defined-benefit system pension that many analysts say is unsustainable.
An attempt to [...]

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PA Week in Review: Budget-making in a broke city

By   /  May 10, 2013  /  Accountability, Elections, Ethics, Featured, Finances, Fraud, Issues, Media, News Roundup, Pennsylvania, Pensions, Pensions, Politics & Elections, State Budgets, State Government, Video  /  No Comments

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In a capital city teetering on the brink of bankruptcy, and the first city in the nation to be charged by the federal Securities and Exchange Commission with misleading investors, the Pennsylvania state government is beginning the process of putting together a budget.

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They paid how much? A closer look at WEDC compensation

By   /  May 2, 2013  /  Accountability, Featured, News, Pensions, Scott Walker, State Government, Wasteful spending, Wisconsin  /  5 Comments

An audit finds the Wisconsin Economic Development Corp. handed out merit pay and other perks even as the agency was plagued by mismanagement and accountability problems.

By Ryan Ekvall | Wisconsin Reporter
MADISON – The Wisconsin Economic Development Corp. was created, in part, to shed the encumbrances of the public sector in its mission to help Wisconsin businesses develop and create jobs. The public-private partnership, its creators assured, would be nimble and responsive to business needs, while shedding the skin of government [...]

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Revenues up, but not up enough — budget challenges ahead in PA

By   /  May 1, 2013  /  Featured, Finances, Issues, News, Pennsylvania, Pensions, Pensions, State Budgets, State Government  /  No Comments

COMING UP SHORT: The Corbett administration is backing away from a February projection that expected more tax revenue this year.

Pennsylvania has an extra $67 million in the bank with two months to go in the fiscal year.

But that won’t make the budget process any easier.

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Portsmouth to deal with debt by taking on more … debt

By   /  April 29, 2013  /  Featured, News, Pensions, Virginia  /  No Comments

PORTSMOUTH COUNCILWOMAN: Elizabeth Psimas is one of the Portsmouth City Council members who deemed pension obligation bonds necessary for the cash-strapped city.

The city of Portsmouth plans to take on more debt to fund employee pension liabilities it already can’t afford. It’s a move public pension experts call irresponsible, shortsighted and risky.

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