Retirement
February 25, 2011
Little Hoover Commission: Cut retirement benefits for current employees, including C/Os
The Little Hoover Commission issued a report today recommending the reduction of pension benefits for all current public employees in the state.
Here are a few excerpts from the report:
- “The Legislature should give state and local governments the authority to alter the future, unaccrued retirement benefits for current public employees.”
- “Freezing earned pension benefits and re-setting pension formulas at a more realistic level going forward for current employees would allow governments to reduce their overall liabilities – particularly in public safety budgets. “
- “Police officers, firefighters and corrections officers have to be involved in the discussion because they, as a group, are younger, retire earlier and often comprise a larger share of personnel costs at both the state and local level.”
- “Public safety pensions cannot be exempted from the discussion because of political inconvenience.”
July 25, 2009
CIW warden preparing for retirement
Just past the rose bushes, California Institution for Women's main yard stretches out in front of warden Dawn Davison's office windows.
For the past five years, she has been watching over more than 2,600 inmates. She has worked to improve their shortcomings and celebrate their successes.
In a few months, it will be someone else's yard, someone else's worry and, hopefully, someone else's source of pride…
LINK - DailyBulletin.com
June 13, 2008
Ohio: Amount of unpaid benefits remains unknown
The price tag for unpaid retirement benefits owed by Columbiana County for some former employees hired by the private jail operator in 1997 remains unknown as commissioners prepare for the 2009 tax budget hearing set for 10 a.m. July 9…
…On April 30, commissioners approved a consent judgment entry to settle a court action filed in January by four former employees who were laid off when the county privatized the jail and then rehired by CiviGenics, the private firm the county contracted to run the jail.
The employees claimed the county failed to pay into the public retirement system for their past, present and future time with CiviGenics as ordered by the Ohio Public Employees Retirement System Board in November 2007…
LINK - ReviewOnline.com
April 25, 2008
Plan to open up CalPERS reflects worry about inadequate saving for retirement
Investing for retirement is the financial equivalent of eating your vegetables: It's good for you, but sometimes downright distasteful. Now a proposal making its way through the California Legislature has people talking about whether the state can make putting aside retirement money more palatable.
The plan would let private businesses and workers funnel direct payroll deposits into a retirement investment account. The California Public Employees' Retirement System would administer the pooled money.
No one knows how many of California's 6 million workers without retirement plans would sign up. Many struggle in jobs that leave them with little money at the end of the month. The arcane language of finance can paralyze the uninitiated. And let's face it: We love buying stuff, even when we can't afford it…
LINK - SacBee.com (The Sacramento Bee)
