Welcome to the latest edition of This Week in Pensions! As we do most weeks, we have gathered the best stories about pensions and retirement security from the previous week. This is the news you need to know in the fight for a secure retirement.
Here are this week’s top stories:
- Take responsibility and fund KPERS by Loren Kriegel: a correctional officer in Kansas writes to the Topeka Capital-Journal to urge the state legislature to fully fund KPERS this year. “Our local communities, taxpayers, the state’s fiscal health, and the retirement security of thousands of hard-working public employees are counting on it. Be responsible.”
- PERS Investment Returns Surged 15.3% In 2017, More Than Twice Expectations by Ted Sickinger: Oregon’s public pension plan earned double-digit investment returns last year. The returns, averaging 15.3%, reduced the plan’s unfunded liability by $3 billion. Many public pension plans earned strong returns in 2017 as they continue to recover from losses suffered during the Great Recession.
- Pension reform bill won’t come before lawmakers have chance to size up re-election bids by Tom Loftus: January 30th at 4 pm was the filing deadline for candidates running for state legislature in Kentucky. A full month into their legislative session, Kentucky legislators have introduced no major legislation to address pressing issues in their state, including fully funding public pensions. Perhaps now that they know what kind of opposition they’ll be facing this year, politicians in Frankfort will muster the courage to tackle major public policy issues.
- Republicans may reveal their pension bill to nervous retirees as soon as Monday by Daniel Desrochers: as if on cue, news broke Friday afternoon that Republican legislators in Kentucky could introduce their long-awaited pension bill on Monday, February 5th. It remains to be seen if their proposed legislation will contain harsh pension cuts similar to those proposed by Gov. Bevin last year.
Also, today is Groundhog Day, so be sure to check out our post from last year about how attacks on public pensions are similar to the film Groundhog Day.
Be sure to check back next week for the latest news in the fight for a secure retirement!