Welcome to the latest edition of This Week in Pensions! This is your go-to resource for all the news you need to know about pensions and retirement security. As always, we’ve gathered the best stories from the previous week to keep you up to date.
Here are this week’s five best stories:
- Don’t put blame on retired workers by Bailey Childers: NPPC’s Executive Director writes to the Las Vegas Review-Journal, criticizing a recent editorial that called for harmful cuts to public pensions.
- The teacher pension crisis is not what you think it is by Walt Gardner: writing in the New York Daily News, the author points out that teachers contribute to their pensions with every paycheck, while politicians often shirk their responsibilities and don’t make their contributions to the pension system.
- Pension hikes for Louisiana retirees clear first legislative hurdle by Mark Ballard: last year the Louisiana legislature passed a Cost of Living Adjustment (COLA) increase for retirees, but it was vetoed by former Governor Jindal. Fortunately, the state legislature is moving to pass a COLA increase again this year and hopefully Governor Edwards will support it.
- Napolitano is wrong on pensions by Peter Hays: a University of California- Davis professor slams UC President Janet Napolitano’s plan to move UC faculty into a 401(k)-hybrid system because it will reduce the competitiveness of the university by weakening retirement security for faculty members.
- Pension fund leaders condemn political attacks on DB plans by Arleen Jacobius: several CEO’s of major public pension funds condemned ideological attacks by the Koch brothers and the Arnold Foundation on public employee pensions. “It has to do with a predetermined agenda against public employee pension plans,” said Gregory Smith of Colorado PERA.
Check back next week for the latest updates in the fight for a secure retirement!