Posts Tagged ‘MS PERS’
Despite Cuts, More Pension Woes
“We have to deal with reality,” Mr. Bevin said. “Everything is on the table, absolutely.” Hello, Mississippi.
Read MorePERS Update: Fairy Dust in Investment Return Assumptions?
The good news is that they lowered the investment assumption from 8% to 7.75%. The bad news is that they don’t actually expect the fund’s investments to return anywhere close to 7.75%.
Read MoreState pension fund recovery stalled
Actuaries reported in October that the PERS funding percentage — the share of future obligations covered by current assets — ticked down to 60.4 percent from 61 percent the year before.
Read MoreThe Pension Sink Is Gulping Billions in Tax Raises
Remember that ‘temporary’ tax hike for California schools? Most is now going to public worker retirements. By STEVE MALANGA | www.wsj.com | January 13, 2015 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…
Read MoreStates In Danger As Pension Underfunding Of $4.7 Trillion Threatens Their Fiscal Health
“This spells trouble for the millions of baby boomers who are quickly approaching retirement age and expect to collect the pensions promised to them by government officials,” IBD Editorials | Posted 11/19/2014 | news.investors.com State Finances: Voters in the midterm elections gave Republicans control of 31 governorships and 23 state legislatures, the most since 1929. A big reason…
Read MorePublic Pensions: "Tremendous Risk"?
How much riskier are public pensions for taxpayers and government budgets these days? According to a Wall Street Journal opinion piece by American Enterprise Institute scholar Andrew G. Biggs, public pensions pose about a 10 times greater risk than they did in 1975. How much riskier are public pensions for taxpayers and government budgets these…
Read MoreThe Pension Debate Continues
Steve Kreisberg, a union representative for AFSCME, and Andrew G. Biggs, a scholar at the American Enterprise Institute, discuss public pension issues on “Newshour” in relation to the Detroit bankruptcy and Illinois vote to cut pension benefits. Public pensions are contractual obligations to pay employees retirement benefits as partial compensation for their work. Biggs says…
Read MoreDo Public Pensions Bet Against the Odds and Let Politicians off the Hook?
What’s one reason for the nation’s public pension crisis? It may have to do with placing false hopes on risky investments and making pensions look better off than they really are. What’s one reason for the nation’s public pension crisis? It may have to do with placing false hopes in risky investments and making pensions…
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