The very name sounds like a nefarious practice. Thirteenth pension payments conjure images of unbudgeted bonuses, opaque to anyone outside of the public employee retirement system.
The U.S. Government Accountability Office report, “Trends in Marriage, Work, and Pensions May Increase Vulnerability for Some Retirees,” offers sobering data on the transition away from defined benefit (DB) plans to defined contribution (DC) plans: Read more
Words shape our understanding. The inclusion or omission of a word, or even punctuation, can change understanding. Just consider this reminder of the important role commas play in everyday life:
Which is why it is interesting that The New York Times has chosen the numbers it has for certain, recent stories. Read more
As anticipation mounts that Detroit will file a plan to adjust its debt with the U.S. Bankruptcy Court next week and with the ongoing confusion of public pensions, bond holders, and in the case of Detroit, art, PensionDialog spoke with Mr. Robert D. Klausner to better understand the basics of municipal bankruptcy.
Mr. Klausner’s firm, Klausner, Kaufman, Jensen & Levinson, represents state and local retirement systems in more than 20 states. He has assisted in the drafting of many state and local laws on public employee retirement throughout the United States. Following is a recap of our conversation. Read more
Retirement savings—and the lack thereof—for private sector employees were in the news last week as President Obama launched myRA and Senator Tom Harkins (D-IA) put forth his bill, the Universal, Secure, and Adaptable (USA) Retirement Funds Act of 2014.
While typically this space is focused on public employee retirement plans, given the media attention, it’s important to be aware of the conversation and understand what’s being proposed. Read more