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:
- Ky. Teachers To Rally Again As Lawmakers Return For Final Legislative Days by Ryland Barton: Kentucky teachers and other public employees returned to the capitol on Friday to continue their protests against the harsh pension cuts rushed through the legislature. As the legislature nears the end of its regular session, critical questions remain about the state budget and tax reform.
- Striking Teachers in Coal and Gas Country Are Forcing States to Rethink Energy Company Giveaways by Kate Aronoff: a long read in The Intercept focuses on how teacher strikes in states from West Virginia to Kentucky to Oklahoma intersect with the politics of the coal and oil & gas industries in those states. An important read about the challenges facing many states currently dealing with the “red state revolt.”
- Kentucky governor signs pension reform bill; state attorney general, 2 groups file lawsuit by Meaghan Kilroy: this past Tuesday, Governor Bevin finally signed the harsh, pension-gutting legislation that was rushed through the legislature on the back of a sewage bill. The following day, Kentucky’s Attorney General, joined by teachers and police officers, sued to block the pension bill from taking effect.
Finally this week, Pew’s Public Sector Retirement Systems project released a new report on public pension funding in all fifty states. This report will garner a lot of attention, but it’s important to remember that Pew’s work on public pensions is funded by anti-pension billionaire John Arnold. He’s given almost $10 million to Pew, so anything they say should be taken with a big grain of salt. For more on Pew, read our earlier blog post.
Be sure to check back next week for the latest news in the fight for a secure retirement!