Updated OPEP and Pension liabilities as of June, 2015 exceed 1.1 Billion dollars
Tuesday night the City Auditor is presenting Comprehensive Annual Financial Report (CAFR) for the year ended June 30, 2015. item 8a. Pension liability increases from …
Posts in category Pensions
Governor Christie On NJ Pension Problems
Would it not be refreshing to see our City Council discussing our unfunded pension and OPEB liabilities that currently exceed over one billion dollars. That …
Detroit Retirees Vote In Favor Of Pension Cuts
Detroit pensioners agree to take hit in major step forward in bankruptcy crisis http://t.co/9hZYNraXBv — CBC World News (@CBCWorldNews) July 22, 2014 …
GASB Requiring Better Reporting of OPEB cost
Link to story OPEB= Other post-employment benefits GASB= Government Accounting Standards Board Over the past month we have discussed how the City of Worcester …
City of Worcester Five Point Plan
Next Tuesday budget meeting will discuss this from page 287 of the budget. Five points: 9,708,794 Capital Campaign Stabilization 1,000,000 City Square Reserve Fund 5,501,101 …
OPEB Costs
I was told that the proposed budget for this year addressed this.. I had a chance to flip through the budget. OPEB stands for …
New Jersey pension dilemma
From Public Sector Inc. This chart is amazing:
New Jersey pension costs
OLS: Christie Cannot Invoke ‘State of Emergency’ To Cut Pensions (via NJSpotlight) Despite his threat to take “extreme measures” to control rising pension costs, Gov. …
Detroit’s bankruptcy effect on legacy costs
Think more cities will decide on bankruptcy?? It may be the only option. In 2020 legacy costs would have absorbed 71% of the budget, but …
Brief history of retirement in the US
Source: Accounting-Degree.org
Mass Pension one of the worst in country
Focusing alot on pensions. I can see the pension problems that we are seeing in cities like Detroit and Chicago becoming commonplace with municipalities around …
Chicago Teachers Unions offers pension concessions
Chicago Teacher’s Union President Karen Lewis before Crain’s Chicago Business Editorial Board:
Spag’s Pension
Pension problems can become a reality quicker then you can think. A few years back there were stories about the Spag’s pension, here is the …
Chicago pension reform bill stalls
Chicago is not much better off then Detroit when it comes to their pension. Last month the Illinois Legislature approved a plan to help the …
Worcester unfunded pension & OPEB numbers
City of Worcester has what is called a Defined Benefit Pension, which means employees work and receive a “defined benefit” based on their years of …