May 15, 2012

Union coalition launches campaign for fair solution on pensions

Frustrated with politicians trying to force teachers, fire fighters, nurses and other public employees alone to bear the burden of solving the state’s pension funding crisis—a crisis politicians themselves caused by failing for years to pay their share to public retirement systems—the union coalition We Are One Illinois has launched a new campaign to call for a fair solution supported by all parties.

May 8, 2012

State Senate rejects 401(k) but passes pension bill

A proposal for a 401(k)-style retirement plan for new teachers and government workers failed on a tie vote Thursday in the Kansas Senate, but its members later approved other changes designed to bolster the long-term financial health of the state pension system.

May 4, 2012

Why 401(k)s are bad for the future of long-term care

We live in a world of unintended consequences. Consider a 1978 change in the tax code designed to let corporate executives supplement their pensions with extra cash. Believe it or not, that was the idea behind this subsection in the Internal Revenue Code, better known as 401(k). It was never meant to be the nation’s de facto retirement system, but here we are.