Dem Senator Pushes For Bailout for His Own Pension

Gary Peters, worth millions, collects $50K a year from underfunded Michigan system

Charles Fain Lehman
May 27, 2020 3:30 PM

Sen. Gary Peters has repeatedly agitated for a federal bailout for his home state, indirectly seeking a rescue for the pension system that pays the millionaire Michigan Democrat five figures annually.

States Made Risky Bets with Pensions Before Coronavirus. Now They Want a Bailout.

Charles Fain Lehman
April 23, 2020 5:00 AM

Staring down the coronavirus's effect on their budgets, states including New Jersey and Illinois are calling on federal leaders to backstop public pensions as part of future coronavirus relief.

Calif. Taxpayers on Hook for Six-Figure Government Pensions

Retired law enforcement exec collected $1.5 million in 2018

Yuichiro Kakutani
November 7, 2019 11:50 AM

Nearly 80,000 Californians collected six-figure taxpayer-funded pensions in 2018, as retirement costs leave half the state's cities at "high risk" of serious financial distress, according to an analysis.

CA Pension Fund Faces Crisis After Shunning Guns, Tobacco

Graham Piro
June 17, 2019 3:45 PM

California's public pension fund is facing an internal crisis over its past decisions to restrict its investments to socially conscious causes. A report from the Wall Street Journal indicates it is considering pivoting away from its socially conscious divesting to address its increasing budget crisis.

Machinists Cut Out

Union seeks to slash future benefits for workers

Bill McMorris
May 2, 2019 9:50 AM

One of the nation's largest union pension funds plans on cutting retirement benefits by 40 percent moving forward despite its overall fiscal health.

Audit Finds Gaps in Checks on Underfunded Police, Fire Pensions

Cole Lauterbach - Watchdog.org
April 24, 2019 4:55 AM

An audit shows that more than half of Illinois' 656 local pension funds for police and firefighters haven't been examined as frequently as state law requires even as some lawmakers want to allow for less frequent pension audits.

NYC to Pony Up $20.8 Million for Discriminating Against Women Nurses

Mary Lou Lang
July 18, 2018 2:26 PM

The city of New York has agreed to pay $20.8 million to settle federal charges for discriminating against registered nurses and midwives because they are women.

Teamsters Launch Effort to Push Pension Reform

Campaign begins in wake of Trump's retirement taskforce

Bill McMorris
April 11, 2018 5:00 AM

The International Brotherhood of Teamsters is pushing lawmakers to preserve retirement security as the nation's pension system continues to teeter toward crisis.

Unfunded Liabilities of State Public Pensions Top $6 Trillion in 2017

Cost of unfunded pensions totals an average of $18,676 per person in the U.S.

Attendees rally on the West Front of the U.S. Capitol building with Teamsters Union retirees who traveled from across the country to voice their opposition to deep cuts to their pension benefits

Ali Meyer
December 14, 2017 5:00 AM

Unfunded liabilities of state public pension plans now tops $6 trillion, an increase of $433 billion from the previous year, according to a report from the American Legislative Exchange Council.

Trump KOs State-Run Retirement Accounts for Private Sector Workers

Labor Department rule would have waived pension protection for employees

Bill McMorris
May 18, 2017 3:38 PM

President Donald Trump reversed another eleventh-hour Obama administration regulation, rolling back Democrats' effort to push private sector workers into state government retirement plans.