Who doesn’t love choice? Chocolate or vanilla? Cheese or pepperoni? Boutique fitness studios have popped up everywhere so no matter what your preferred workout, you can have it. Lawmakers in some states like Michigan, Florida, Pennsylvania, and Indiana have co-opted our national love of choice as their preferred method to attack retirement security. Although a recent Gallup poll found that 51% of Americans would leave their current job for a position that offered a defined benefit pension, these politicians are pushing for choices that no one wants.
Washington, DC – Public pensions are one of the hottest topics in statehouses across the country. Good Jobs First, a non-profit, non-partisan research center focusing on economic development accountability recently released a report entitled, “Putting State Pension Costs in Context.” The report can be found here.
LEXINGTON –A study released today finds that Kentucky gives away massive tax breaks to corporations, while continuing to underfund retirement security for hard-working public employees. The amount given to corporations far exceeds what the state owes to keep its pension plans funded on a yearly basis. That is true even before a new wave of tax-break disclosure data arrives that will likely reveal even more in previously hidden tax-break spending.
LEXINGTON – Today, the Kentucky Public Pension Coalition (KPPC) expressed disappointment that PFM used its Pension Performance and Best Practices Analysis to promote Governor Bevin’s political agenda, rather than to offer constructive solutions for Kentucky’s pension systems. PFM’s 401(k) “solution” has been tried and failed in other states.
Bailey Childers is executive director of the National Public Pension Coalition. In this Quick 5 interview, she talks about the retirement crisis in the U.S.
More than 200 days into Donald Trump’s presidency, we now have a clear answer on whom his administration will serve: Wall Street and corporations. Gone are his promises from the campaign trail to help struggling American families. At every opportunity, his administration has rolled back any small progress that’s been made over the last few years to help Americans prepare for retirement.