Posts by: John Devine

Feb. 18, 2012 – Wyoming has turned thumbs down to proposed legislation to abandon its traditional pension system for a 401(k)-type plan. The state legislature decided to stick with tradition rather than abandon it, in a move that will no doubt be watched closely by other jurisdictions contemplating pension reform, of...

Feb. 17, 2012 – The mayor of San Diego took his plan to end his city’s traditional pension plan, replacing it with a 401(k)-type model for new hires, with the exception of police, to Washington this week. Mayor Jerry Sanders, a former police chief, suggests his campaign, which includes a ballot scheduled for June, will...

Feb. 17, 2012 – It turns out a majority of workers not only didn’t have a ‘freedom 55’ moment,  they plan on working well into the traditional retirement years. A study by Harris Interactive revealed that 57 per cent of workers 60 and older would be looking for a new job once they ‘retire’ from their current work....

Feb. 17, 2012 – In the rush to abandon public-sector traditional pension plans and adopt riskier savings models like defined contribution, what’s being overlooked is that taxpayers would be better served through minor modifications to defined-benefit plans, two pension experts write in a paper for the American Worker...

Feb. 17, 2012 – Who would have thought it? Ziggy Stardust turned 65 in January, and is eligible to collect a state pension. Those who need to be told that Ziggy is in fact David Bowie likely have a fair bit to go before hitting their pensionable years, but many who grew up listening to the glam rocker, or one of his...

Feb. 15, 2012 – A group of Maine retirees is heading to court to overturn cutbacks to public pensions initiated last year by Gov. Paul LePage. The Maine Association of Retirees, claiming the state’s move to cut cost-of-living increases for thousands of retirees is unconstitutional, filed a class action suit on Monday...

Feb. 15, 2012 – The California Pension Reform group has pulled the plug on its efforts to place a voter initiative on a state ballot to cut public pensions. The group has determined that stipulations placed on the measure by California’s attorney general made it impossible for the initiative to pass. The group will...