Public pensions are eating taxpayers alive

By Jeff Jacoby, The Boston Globe

SOME OF my best friends, to coin a phrase, are lifetime government employees. When they stop working, their pensions will put them among the highest-earning retirees in the country. On a personal level, I’m glad my friends’ retirement will be so comfortable. But as a taxpayer, I know that their good fortune, multiplied by hundreds of thousands of government workers like them, will only worsen a swelling political and fiscal crisis.

How the “California Rule” Holds Back Pension Reform

By Ivan Osorio, Openmarket.org

These days, local governments announcing bankruptcy seems like routine in California. Since the onset of the 2008 financial crisis, many state and local governments have seen their pension funds take huge losses. Yet, many of the underlying problems that have made pension shortfalls difficult to address go back many years — more than half a century, in fact.

The Education of Gina Raimondo

The Wall Street Journal

It isn’t easy being a reform Democrat these days. Witness the decision last week by Rhode Island Treasurer Gina Raimondo, heretofore a hero of pension reform, to buckle under pressure from the teachers union and dump a hedge fund run by a supporter of education choice.

Senate Passes Budget Bill Cutting Pension Benefits for New Feds

By Kellie Lunney, Government Executive

The Senate on Wednesday approved 64-36 a two-year budget agreement that requires new federal workers and working-age military retirees to contribute $12 billion in a bipartisan deal to partially repeal some of the spending cuts under the sequester.