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-- An attorney subscriber
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Search the News Archive
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43 Matching News Items |
| 1. |
Capitol Weekly
Nov. 19, 2007
Excerpt: A commission created to suggest changes to the state's pension system was deeply divided over how to solve the issue of 'pension spiking.' In fact, the commission could not even agree whether pension spiking exists, or if it is a problem, let alone what the solution should be.
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| 2. |
STUMP
Apr. 23, 2023
"Some people argue that we don't have to fully fund public pensions and others think we can reduce the pension costs via clever investing or that overly-complicated investing is the reason that pensions have been sunk.... But much of this [is] driven by lengthening lives, fewer people coming after, and then promising benefits that grow faster than the base that can support these promises -- the core logic is obvious."
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| 3. |
STUMP
Nov. 28, 2022
"There is a big problem at the heart of ESG -- there is no way you can measure how well the ESG scores measure anything. At least with credit scores, one can check default and delinquency rates. ESG scores don't really have an external result you can check against."
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| 4. |
STUMP
Jan. 10, 2022
"Some teachers unions, such as in Chicago, are pushing for remote schooling as omicron cases of COVID spread.... Teachers and their union representatives need to think longer-term -- they may minorly reduce a short-term risk of a disease most of them (vaccinated) can deal with, while greatly increase the risk of undermining the future of their pension funds [due to people moving away from the cities or states]."
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| 5. |
STUMP
June 30, 2021
"The issue is that mortality changed a lot at different ages, and the life expectancy number is trying to capture all the changes, which of course changed across ages, sexes, and races in a variety of increases (and, in the case of children, decreases). Increases in mortality at younger ages have a much larger impact on period life expectancy than increases in mortality at old ages."
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| 6. |
STUMP
May 12, 2021
"[If] your pension fund makes the pages of the New York Times, it's not because things are going well.... Who are watching the public pension funds? Boards of trustees, who are often political appointees or there via their elected office.... But when it comes to some of these alternative investments, there is very little transparency to people outside the investment management… and one can't really trust that the board of directors is sufficient to keep an eye on these things."
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| 7. |
STUMP
Apr. 6, 2021
"There may eventually be [multiemployer plan] reforms, but with a big cash injection into Central States Teamsters, the reckoning day has been pushed off. The real crisis was Central States Teamsters going under. It would have taken down the PBGC.... Unfunded liability of Central States Teamsters: ... $43.6 billion dollars ... a little over 50% of the estimated $86 billion cost of the MEP bailout."
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| 8. |
STUMP
Mar. 7, 2021
"That a bailout for the PBGC multiemployer pension program would happen was always expected, because people don't want all the union plans to go without protection because one big plan failed. However, we never expected that the failed plans would be made 100% whole."
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| 9. |
STUMP
Dec. 27, 2020
"[T]he deep, structural fiscal problems of some states can't be fixed by the federal government. It has to be done within the states themselves. If the Republicans hold onto their sliver of a majority in the Senate, nothing is going to happen re: state/local bailouts."
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| 10. |
STUMP
Dec. 23, 2020
"There are two reasons that multiemployer pensions have to be addressed: [1] The federal government partially created the problem [2] Central States Teamsters plan, which has hundreds of thousands of participants, is going to fail in a few years and take down all MEP backing in the PBGC.... This is going to be the first really large private-sector retirement issue, before we hit the end of the Social Security Trust Fund or a large public pension fund running out of assets."
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