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:
- The Democrats took the House, and here’s what that means for your retirement by Alessandra Malito: The elections held this week will have far-reaching consequences on many elements of retirement, including Social Security, Medicare, and investment strategies. All in all, the outcome will most likely be good for pensions as well. “A few gubernatorial candidates had been particularly critical of pension plans, said Bridget Early, executive director of the National Public Pension Coalition, which represents teachers, nurses, police and other public sector workers. ‘The public pension issue is not an issue of benefits being costly,” she said. “It is really a question of budget priorities.’” Fortunately those candidates critical of pension plans, including Oregon’s Knute Buehler and Colorado’s Walker Stapleton, ended up losing their elections.
- Teacher candidates make small gains in Kentucky legislature by Adam Beam and 14 Kentucky educators, board members emerge victorious on Election Day after pension protests by Todd Dykes: After pension-gutting SB 151 was rushed through the legislature in the final hours of this year’s session, Kentucky’s teachers vowed to “remember in November”. Not only that, but many chose to run for office themselves. This past Tuesday, 36 teachers were on the ballot, many of whom ran as Democrats. While the “blue wave” that hit much of the country didn’t overwhelm in Kentucky, 14 Kentucky teachers and education advocates won their races. Hopefully now, with teachers in the legislature, Kentucky will be able to craft education policy and retirement solutions that work for both taxpayers and educators.
- Public employees earn their pensions and deserve a COLA by Kevin Reddy: Wyoming’s public employees haven’t received a cost of living adjustment in over a decade, and Kevin Reddy, President of the Federated Fire Fighters of Wyoming, says it’s way past due. With the rising cost of living expenses, public employee retirees are getting left behind. Public employees, firefighters and police in particular, are there for Wyomingites on the worst days of their lives. It’s time for Wyoming lawmakers to show up for them.
Be sure to check back next week for the latest news in the fight for a secure retirement!