By James R. Copland, Investor’s Business Daily
Labor union pension funds have taken the mantra to heart this proxy season with respect to the nation’s largest financial institution, JPMorgan Chase.
By Edward Siedle, Forbes
Across the nation largely less-skilled older workers participating in multiemployer pension funds are at risk of losing the limited retirement security they had and slipping into poverty. Reductions or limitations on benefits–such as disability benefits–may spell doom for some older workers, particularly those with physically demanding jobs. Too frail to work, too poor to retire will be their fate.
Reuters
An Illinois Senate committee on Wednesday passed a union-backed plan to reduce the state’s nearly $100 billion unfunded pension liability by an estimated $15.7 billion.
By Malia Zimmerman, Watchdog.org
Hawaii lawmakers took modest steps to address the state’s record $25-billion in unfunded liabilities during the 2012 and 2013 legislative sessions.
By Charles Chieppo, Governing.com
A New Way to Tame the Public-Pension Beast? Adjustable pension plans could help governments control both risk and their out-of-control retiree-benefit costs.
By Greg Hinz, Crain’s Chicago Business
There’s a time in life to keep your head down and quietly push ahead, trusting that progress is being made. And there’s a time to take a risk in the name of boosting your odds of final success.
Chicago Tribune
A House-backed plan to repair Illinois’ underfunded pension system, that would increase employee contributions while reducing benefits, may face a Constitutional challenge.
By Ed Ring, Townhall.com
A study released earlier today by the California Public Policy Center entitled “Calculating California’s Total State and Local Government Debt” has estimated that state and local government debt is somewhere between $848 billion and $1.12 trillion. This is the first attempt we’ve ever seen by anyone to provide an estimate.
By Steve Knutson, Duluth News Tribune
In the decades I’ve worked in the insurance industry, I’ve been baffled at how heavily insurance policies are taxed and how little consumers know about it. Yet the Minnesota Legislature is looking at adding another new tax on our customers to bail out an underfunded pension fund for public-safety employees.
By Barry B. Burr, Pension & Investments
Labor union-backed shareholder activism has failed to increase shareholder value, according to a report released Thursday by the U.S. Chamber of Commerce.