S&P Nudges Philadelphia's Credit Rating Downward
The city's finances face pressure from public employee pensions and added public school costs are on the horizon.
Kentucky Governor Cites ‘Thug Mentality’ in Teacher Pension Fight
STATE AND LOCAL ROUNDUP | Major storm systems disrupt California and Northeast; Austin’s busy 9-1-1 call center; St. Paul mayor’s inaugural ball funding gap; Vermont’s ‘regressive’ DMV compliance; and Indiana’s new IoT hub.
‘Desperate’ Illinois City Looks to Sell Assets After Big Pension Surprise
STATE AND LOCAL ROUNDUP | Utah governor prays for much-needed snow; Wisconsin’s lead-foot problem; convicted Pa. mayor makes appeal to citizens; and homelessness hits new lows in Lexington, Ky.
With New Jersey’s Pensions in Crisis, a Question of Fiscal Priorities
To lure Amazon’s HQ2, the Garden State is offering more than double its annual contribution to the public pension system—a system that paid out $5.5 billion more in benefits than it accrued last year.
Final Tax Bill Does Not Include Tax on State and Local Pension Plans
An earlier House-approved version of the legislation would have exposed some public pension investments to federal taxation.
GOP Tax Overhaul Could Hit State and Local Pension Plans With Federal Tax
“It's a huge burden,” the executive director of the National Conference on Public Employee Retirement Systems said as he discussed the tax proposal.
'Risk Is Shifting' for State and Local Employees Planning for Retirement
The changes are taking place in an era when some state and local governments are struggling with pension costs.
Funding Gaps in Pensions and Infrastructure: A Match Made In Queensland
Can two major funding headaches fix each other's problems?
State and Local Pension Plans Shift Toward ‘Alternative’ Investments
New research from the Center for Retirement Research at Boston College sheds some light on how that looks and what it means.
Debt-Laden New Jersey Struggles to Make Ends Meet
The Garden State faces a tight squeeze on public programs and experts see big trouble in the not-so-distant future after years of pension underfunding.
Hartford Suffers Downgrade, as Connecticut Struggles With Its Budget
Uncertainty about state aid has analysts concerned about capital city’s general obligation and stadium bonds.
Why Would Congress Bail Out Miners’ Pensions?
If legislators on Capitol Hill don’t act by the end of April, miners will lose their health-care benefits. They may soon lose their retirement benefits, too.
Virginia Poised to Lead on Risk Analysis of State Pension Investments
In recent decades, state pension funds across the country have shifted to more complex investments with greater exposure to financial market volatility.
Bay Area City Heading Toward Bankruptcy?; Iowa Looks at Preempting Cities on Minimum Wage
Also in our State and Local Daily Digest: Is Edwards using tactics from Jindal’s Louisiana budget playbook; N.J. county distributes potassium-iodide pills; a blueprint for a city-county consolidation in Upstate N.Y.
The Great Texas Pension Fix
Houston owes its police, fire, and city workers about $7.8 billion, and it doesn’t exactly have the cash on hand. Their hard-fought solution could serve as a model for the rest of Texas, and the nation.
S.C. Struggles With Pension Funding; New Governors Sworn Into Office in Ind., Mo.
Also in our State and Local Digest: A push to raise Mont.’s gas tax; municipal panic buttons expand in Mass.; and a W.Va. city hall is a ‘total loss’ after a fire.
N.Y. State Pension Bribery Indictments; Will Congress Kill D.C.’s ‘Death With Dignity Act’?
Also in our State and Local Daily Digest: Snow-removal costs pile up in Billings; Ohio aims to make its data more accessible; and Oklahoma City’s new evening lifeline.
Conn. Pension Deal Kicks the Can Down the Road; Calif.’s Costly Prison Health IT Upgrades
Also in our State and Local Weekend News Digest: Philly drug overdoses; Georgia voter hack suspected; and Illinois budget mess hits holiday charities.
Jacksonville’s Frustrated Mayor: ‘We’ve Got to Get Out of the Pension Business!’
The mayor of Florida’s largest city continues to fume over fiscally troubled police and fire pensions and calls a possible $45 million miscalculation by an actuary “outrageous.”
In Booming Dallas, Bankruptcy Talk Shines Light on City’s Tough Fiscal Predicament
Whatever comes next in the nation’s ninth-largest city, it won’t be pretty.
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