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:
- Kentucky Supreme Court strikes down pension reform law by Tom Loftus – “The high court ruled that the speedy process used by Republican majorities to turn Senate Bill 151 from a sewer bill into a 291-page pension reform bill and zip it into law violated a provision within the state constitution intended to ensure that lawmakers have the “fair opportunity” to consider a bill before voting on it,” writes Loftus. This is a huge victory for public employees in Kentucky who would have seen their retirement security severely diminished if the bill had been allowed to become law.
- Ken Dixon: Wanted: Some heart, brains and courage to save home – Dixon recently attended the National Press Foundation’s program on retirement income. Dixon recounts his experience meeting with union representatives to discuss the impact of various pension attacks on their members. Presenting as part of the panel was Sarah LaFrenz, Kansas Organization of State Employee’s president, who pointed out how she fights back. “You still need to have the ability to argue about it, and that’s what we do,” she continues. “And that’s why you see employers and big people from these think tanks, you know, like the Koch brothers are from Kansas, for crying out loud. They will fund over and over again to silence working people. Silence them. Because they want all the money and they want all the power. That’s how that works.”
- “I blame myself”: Retirement remains out of reach for millions of Americans – by Mark Strassman – In his piece, Strassman shares the story of Tom Coomer, who lost his most of his pension when the plant he worked for closed. After working for 29 years, Commer now works at Wal-Mart to make ends meet. This is one example of too many people being forced to work longer because retirement remains out of reach.
Be sure to check back next week for the latest news in the fight for a secure retirement!