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:
- We need to protect New Hampshire pensions by State Senator Kevin Cavanaugh: a New Hampshire state senator writes about the importance of protecting pensions. He also emphasizes the need for giving a cost of living adjustment to New Hampshire’s retirees next year. He says, “we need to make sure that those who served the public good their entire careers are taken care of.”
- So sue me, you so-and-so by Ellen Suetholz: the coordinator of the Kentucky Public Pension Coalition writes about being sued by Governor Matt Bevin. Suetholz filed an open records request to obtain an actuarial analysis that was suppressed by Gov. Bevin. The actuarial analysis reportedly showed that Bevin’s radical anti-pension bill would have increased costs to taxpayers by billions of dollars. In order to continue suppressing the report, Bevin sued Suetholz and argued that he should not be forced to release the report.
- New Hampshire retirees need a COLA by Susan Cilley: a retired public employee in New Hampshire writes about the need for a cost of living adjustment. The pensions of retired public employees lose value over time as inflation rises. “What would have filled a basket at the grocery store, can no longer do so,” Cilley says. “Gas prices have climbed, milk prices have increased, and our cost-of-living has only gone up. Cost-of-living adjustments for retirees like myself are necessary.”
- Retention, recruitment ‘killing’ Utah police and fire departments by Mark Shenefelt: “Pension reform” in Utah is harming the ability to recruit and retain police officers and firefighters. In 2010, Utah created a hybrid retirement system for public employees hired starting July 1, 2011. This new retirement plan has made it more difficult to recruit new police officers, leading to an estimated 600 open positions across the state. Guess who authored that pension reform legislation? Dan Liljenquist, now one of the leaders of the Retirement Security Initiative.
- In courtroom packed with teachers, judge says he hopes to rule soon in pension case by Jack Brammer: a judge in Kentucky held the first hearing yesterday in a lawsuit challenging the legality of the stinking, pension-gutting law passed in eight hours by the legislature this spring. The judge is expected to rule quickly and his decision, regardless of the outcome, is expected to be appealed directly to the Kentucky Supreme Court. State Attorney General Andy Beshear took the unusual step of arguing the case himself, contending that the new law is unconstitutional.
Be sure to check back next week for the latest news in the fight for a secure retirement!