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:
- ‘Move ‘em out’ trucks arrive at Capitol for lawmakers who voted for pension bill by Jack Brammer: public employees in Kentucky rallied at the state capitol this past Saturday to “move out” legislators who voted for the pension-gutting sewer bill earlier this year. With the midterm elections less than a month away, public employees vowed to hold legislators accountable for their votes on SB 151. “Welcome to the first ‘Vote ‘Em Out, Move ‘Em Out’ rally,” state AFL-CIO president Bill Londrigan told the crowd.
- The Lesson For Millennials From Boomers’ Stark Retirement Choices by Diane Oakley: writing in Forbes, the Executive Director of the National Institute on Retirement Security warns Millennials about the challenges of saving for retirement. Many Baby Boomers who are nearing retirement are discovering they don’t have enough saved for a secure retirement. Oakley urges Millennials to begin saving for retirement as soon as they enter the workforce and urges employers to extend retirement plan coverage to these younger workers.
- Fitzgerald: keep IPERS going by Mike Peterson: Iowa State Treasurer Michael Fitzgerald argues that Iowa must protect the Iowa Public Employees Retirement System (IPERS), the statewide pension plan. “In Page County, we have 828 people that are retired, and last year, they received almost $13 million in benefits,” said Fitzgerald. “That’s important to the community. It’s important to these folks. It’s a good system, and I want to see it continue on.”
- Public pensions help the whole city, not just retirees by Sherry Chan: the chief actuary of New York City makes the case that everyone should care about public pensions, not just retirees who receive pensions. Why? Because pensions benefit local economies, which ultimately benefits everyone. Chan concludes: “Know more about public pensions. Care about them for the right reasons. Who really benefits from public pensions? We all do!”
Be sure to check back next week for the latest news in the fight for a secure retirement!