Legislative sessions begin in some states this week. Here’s a quick look at some of the places we’ll protect pensions in the year ahead:
- Kentucky: newly sworn-in Governor Matt Bevin campaigned on gutting Kentucky’s public pensions and forcing state employees into a defined contribution 401(k)-style system. The Bluegrass State is certain to be a battleground for retirement security this year.
- Pennsylvania: 2015 ended without a budget for the Commonwealth. There’s no end in sight for this months-long budget standoff as Republican legislative leaders continue to fight among themselves over whether to demand harsh cuts to public pensions for teachers, nurses, and other public employees. Pennsylvania’s politicians should stop holding the budget process hostage for unnecessary and costly changes to pensions.
- Oklahoma: the Sooner State faces a massive budget shortfall due in part to large tax cuts enacted five years ago. Some legislators are using this as a pretext to push for consolidation of the state pension funds and other harmful changes to the retirement security of public workers there. Consolidating management of the pension funds would do little to save the state money and forcing workers into a defined contribution 401(k)-style system would dramatically increase costs for the state.
If attacks on public pensions and retirement security crop up in your state, we need your help to protect pensions! If you haven’t done so already, please sign up here to join NPPC in fighting back against these attacks. And keep coming back to Defined Benefit for the latest updates on pension battles across the country.