Pensions
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The Widening Gap Update
The gap between the promises states have made for public employees’ retirement benefits and the money they have set aside to pay these bills was at least $1.38 trillion in fiscal year 2010. more
The LATEST
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- Stateline Story
Pension Fund Investments Are Up, but Gaps Persist
State retirement plans earned a median 13 percent return for the budget year that just ended. But the financial challenges facing public plans are anything but over. more
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- Stateline Story
States Test Whether Public Pension Benefits Given Can Be Taken Away
Most changes made to shore up state pension funds have been aimed at new employees. Now, three states are targeting current retirees - a group that has been considered off limits. more
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- Stateline Story
Pension Overhaul Treats Lawmakers, Other State Workers Differently
In Missouri, the new retirement age for government employees is 67. For legislators and other elected officials, it's 62. As states look at reining in pension costs, are lawmakers giving themselves a better deal than everyone else? more
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- Stateline Story
N.J. Teachers Rush Into Retirement
TODAY'S TAKE: Chris Christie, the outspoken New Jersey governor who has become synonymous with spending cuts, appears to have instilled fear in state labor unions. New numbers show that teachers, in particular, are retiring in waves, apparently fearful that the Christie administration will go after their pensions and benefits.more -
- Stateline Story
In Some States, Pension Pain Yields Budget Gains
To cut down enormous public pension cost burdens, states are beginning to target current and future public workers for higher retirement contributions. Employee labor unions are fighting back, but they may have little choice given the intense pressure to reduce deficits.more -
- Stateline Story
Vermont's Pension Experiment
Like many states, Vermont faces rising public employee pension costs while trying to close a budget shortfall. A state panel recommended cutting pension benefits, angering employee unions. Legislative leaders and the state treasurer tried something different: inviting the teacher's union for a series of private talks that ended with a novel compromise. So far, everyone's happy.more -
- Stateline Story
Pension 'Sea Change' in New Jersey
TODAY'S TAKE: In what The Wall Street Journal called a political "sea change," New Jersey Governor Chris Christie this week signed legislation scaling back retirement benefits for government workers in the traditionally union-friendly state. The move comes as many states face stark gaps between what they have promised their employees and what they have on hand to fulfill those promises.more -
- Stateline Story
States Tackling Public Employee Retirement Benefits in 2010
Since legislatures convened last month, at least 16 states are weighing changes to their worker pension plans. Employees, retirees and unions say they will contest some of the proposals.more -
- Report
- States' Fiscal Health
The Trillion Dollar Gap
States that ignored public sector retirement challenges now face growing bill coming due—bills that may have significant consequences for taxpayers. This report from the Pew Center on the States examined the roots of the problem and how the economic crisis is spurring states into action.
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- Stateline Story
Summary of the Connecticut State of the State Address
Connecticut Governor Jodi Rell, a Republican, focused on ways to create jobs and cut the deficit in a sobering state of the state address Feb. 3. She called out the state's Democratic-controlled legislature for partisan bickering at a time when a devastating economic recession has thrown 94,000 residents out of work and caused a deep fiscal crisis.more