Pensions -

Report: State public pension unfunded liabilities soar to $5.6 trillion

By   /  October 19, 2016  /  Accountability, Budget and Spending, National, News, Pensions, State Budgets, State Government, Wisconsin  /  No Comments


“It’s really crooked accounting going on for states and local governments,” Williams said.

Read More →

More out, less in: Altered assumptions push Florida’s pension debt up $2.6 billion

By   /  October 19, 2016  /  Florida, News, Pensions, State Budgets, State Government  /  No Comments

Shutterstock Image

In a small, unassuming Capitol conference room last week, state pension officials made multi-billion-dollar tweaks to the Florida Retirement System’s 1.1 million-member pension plan.

Read More →

Illinois schools handing out post-retirement bonuses

By   /  September 28, 2016  /  Education Blog, Illinois, Pensions  /  No Comments

Wikimedia Commons

To cut costs and boost the state’s woefully underfunded teachers pension system, Illinois voted in 2005 to set limits on end-of-career pay raises for teachers and administrators. So, instead of pay raises, districts are paying out tens of thousands of dollars in bonuses to employees who are retiring or, in some cases, to those who have already retired. […]

Read More →

Mississippi’s unfunded debt would cost each citizen $11,800

By   /  September 20, 2016  /  Budget and Spending, Economy, Legislature, Mississippi, News, Pensions, State Budgets, State Government, Taxes  /  No Comments

DEEP IN DEBT: According to the reform group Truth in Accounting, each Mississippi taxpayer owes $11,800 to cover the state's $8.4 billion in debt. Photo illustration by Steve Wilson

According to a new report by Truth in Accounting, each citizen would owe $11,800 apiece to pay off Mississippi’s debts, which amount to $8.4 billion.

Read More →

Accounting switch overshadows New Mexico’s newly reported pension debt

By   /  September 20, 2016  /  New Mexico, News, Pensions, State Budgets, State Government, Transparency  /  No Comments

stock photo

The same year a new accounting rule required New Mexico to be more transparent about its pension debt, the state Department of Finance and Administration decided that a $14 billion land grant trust fund dating to 1898 was a new governmental asset. With the stroke of pen, New Mexico was in the black. Rather than reveal […]

Read More →

Houston mayor offers half-serious pension plan

By   /  September 19, 2016  /  Labor, News, Pensions, Texas  /  No Comments

Photo by Traci Patterson/Creative Commons

The pension plan that Houston Mayor Sylvester Turner announced this week is about as realistic as Houston can handle right now.

Read More →