Illinois joined other cities and states in cutting pensions as way to curb costs. Should public employees who have already earned their retirement be subject to cuts? Judy Woodruff talks to Andrew Biggs of the American Enterprise Institute and Steven Kreisberg of the American Federation of State, County and Municipal Employees. Continue reading
In our news wrap Tuesday, Illinois lawmakers moved to make major cuts to pension benefits for thousands of state employees and retirees. The bill also raises the retirement age. Also, the U.S. House of Representatives voted to renew a ban on plastic firearms that can evade metal detectors and X-ray machines for 10 more years. Continue reading
A federal ruling will allow Detroit to move forward with its bankruptcy and to possibly cut pensions as part of the debt-shedding process. Judy Woodruff talks to Christy McDonald of Detroit Public Television about the choices the emergency manager Kevyn Orr has to consider when crafting a restructuring plan for the Motor City. Continue reading
As more and mores states struggle to keep their pension promises, a new Pew study released Tuesday painted a stark picture of just how big the budget hole has become in some states. Jeffrey Brown discusses the pension gap with the Pew Center’s Kil Huh and Northwestern University’s Joshua Rauh. Continue reading
Watch Paul Solman’s report, ‘Is Your Pension Safe? States Struggle With Pricey Challenges.’ Paul Solman answers questions from NewsHour viewers and web users on business and economic news most days on his Making Sen$e page. Here’s Thursday’s query: Our blog … Continue reading
Well, no. Investment assumptions themselves don’t worsen the crisis, but as we explain in our story on Rhode Island on Wednesday’s broadcast, decisions about pension fund investment assumptions can mean higher taxes, lower pensions and bitter politics. Why? Because the … Continue reading
By Diane Lincoln Estes Well, no. Investment assumptions themselves don’t worsen the crisis but as we explain in our story on Rhode Island on Wednesday’s broadcast, decisions about pension fund investment assumptions can mean higher taxes, lower pensions and bitter … Continue reading
As part of his continuing coverage of Making Sen$e of financial news, economics correspondent Paul Solman reports from Rhode Island on the struggles that states are facing over how to calculate investment returns for public pension funds to keep them fully funded. Continue reading
With all the strife over public-sector unions, including irate e-mails in response to our pension coverage on the program, we thought we’d lighten the mood by sharing some recent political cartoons.
With all the strife over public sector unions, including irate e-mails in response to our pension coverage on the program, we thought we’d lighten the mood today by sharing some recent political cartoons.