MEA Union President In Line for Six-Figure Government Pension

By Tom Gantert, Michigan Capitol Confidential

When the current president of the state’s largest teachers union worked for the Lansing School District more than 20 year ago, his job title was “paraprofessional.” That’s a position that pays between $7.69 and $16.52 an hour, according to a recent union contract.

New Jersey panel proposes major pension overhaul

By Alicia Munnell, Market Watch

The day after a New Jersey judge ruled that Governor Christie must make up $1.57 billion in pension underfunding, the governor’s commission to study New Jersey’s pension system proposed a complete overhaul of the state’s pensions.

Public Pension Fight: Unions Win, Budget Woes Remain

By Andrea Riquier, Investor’s Business Daily

Is public pension reform dead? Defined benefits for public sector workers, which make up a large and growing portion of many stretched municipal budgets, have been on full display in many recent high-profile cases, with mixed messages for the future of reform.

House members challenge DOL fiduciary efforts

By Melissa A. Winn, Employee Benefit News

The House Committee on Education and the Workforce “has strong reservations” about the Department of Labor’s efforts to require retirement advisers to follow a fiduciary standard, saying it could reduce access to retirement savings options and conflicts with the Dodd-Frank Act.

How San Jose Took on the Unions and Saved Millions Through Pension Reform

By Alexis Garcia, Reason

“If a government can’t provide the core basic services, it’s failed in it’s mission,” says Pete Constant, a former member of the San Jose City Council who advocated for sweeping pension reform. “Our city had been in many years of budget deficits and there were many more coming in the future. And I just thought the financial decisions had been terribly made.”

The Pension Sink Is Gulping Billions in Tax Raises

By Steve Malanga, The Wall Street Journal

California Gov. Jerry Brown sold a $6 billion tax increase to voters in 2012 by promising that nearly half of the money would go to bolster public schools. Critics argued that much of the new revenue would wind up in California’s severely underfunded teacher pension system. They were right.