Sentences with phrase «states pension obligations»

Kodak said in a filing that it contributed about $ 245 million to its United States pension obligations last year, and that it has been unable to shrink those liabilities to a more manageable level.

Banning or limiting double dipping is among the proposals in New Jersey to reduce the state pension obligation.

Not exact matches

State pension funds, facing a potential multitrillion - dollar shortfall, find themselves in the center of a four - way battle: Employees and retirees expect to be paid their promised benefits; the pension systems have clear obligations but may not have the resources to pay them; politicians are looking for ways to resolve the underfunding and balance the burden among retirees and workers; and state taxpayers, challenged to provide for their own retirements, resent the additional tax State pension funds, facing a potential multitrillion - dollar shortfall, find themselves in the center of a four - way battle: Employees and retirees expect to be paid their promised benefits; the pension systems have clear obligations but may not have the resources to pay them; politicians are looking for ways to resolve the underfunding and balance the burden among retirees and workers; and state taxpayers, challenged to provide for their own retirements, resent the additional tax state taxpayers, challenged to provide for their own retirements, resent the additional tax load.

Over the past few years, public pensions including California Public Employee's Retirement System (CalPERs) and California State Teacher's Retirement System (Calstrs)-- the largest in the country by assets — have posting mediocre returns due to low interest rates and growing retirement obligations.

The code allows the state's trustees, who manage the state pension fund, «to invest any funds of the trust in any instrument, obligation, security, or property that constitutes legal investments.»

The Lone Star State's comptroller reckons its increasingly underfunded pension obligations risk a credit markdown.

To put this in perspective, every single Illinois household owes $ 27,000 just to meet the state's pension obligations alone.

How will states pay their pension obligations?

The fraud issue lies as far outside the scope of the financial committee meetings as does the question of how the economy should cope with its unpayably high mortgage, state and local debts in the face of its inadequately funded pension obligations.

It can pay state and local pension obligations in the same way it has paid Wall Street's 1 %.

Cities and states will preserve their credit ratings by annulling their pension obligations to public - sector workers, and raising excise and sales taxes — but not property taxes.

Park officials said that according to a state - mandated tax levy, $ 10 million was collected for pension obligations in the last fiscal year.

The organization asked Obaseki to «spend the Paris Club refunds to pay all outstanding pension benefits within 14 days of the receipt and / or publication of this letter, failing which SERAP will institute appropriate international and regional legal proceedings to compel your state to discharge its constitutional and international human rights obligations to Edo pensioners.

The sixteen local government councils in Kwara State require N2.1 billion monthly to meet their salary and pension obligations.

... Yet we, as a state, are sanctioning the very thing that this governor said he would never do - underfund your pension obligation.»

They raise fears that protections for labor rights, state pensions, the Adirondack Park's «Forever Wild» Forest Preserve and our obligations to educate our children and care for the needy could be curtailed, or even overturned.

Without this constitutional protection, state and local pension funds could be raided like a piggybank to pay for other obligations.

Calling it an «oppressive unfunded mandate» that would impose $ 57 million in «near term obligations» on local governments across New York State, Governor Cuomo has vetoed a bill that would have allowed public employees to claim up to three years worth of pension service credit for time spent in military duty.

Says that the Pew Center identifies NY as the best funded pension plan in the country, but unlike other states NY will meet obligations.

Cuomo himself has said he woudn't want to commit a state bailout to cities that face growing pension and health care obligations.

He's continuing to utilize a program first enacted in 2010, when the state government and municipalities were socked with a spike in required pension obligations to make up for stock market losses related to the 2008 stock market crash.

Soaring pension obligations resulting from contracts won by politically influential public employees» unions have become a financial liability for state and many local governments.

Connecticut Comptroller Kevin Lembo says he expects negotiations between the state's employee labor unions and the Malloy administration will soon produce an agreement that could help the state reduce its pension obligations.

«I think that proportionally the cuts that are inflicted on New York are an outrage,» the mayor said, adding that more layoffs will be in store unless the state passes a series of major money - saving reforms, including legislation that would allow the city to reduce its pension obligations.

Illinois Gov. Rod R. Blagojevich should abandon his $ 45 million plans to provide preschool for all of the state's 3 - and 4 - year - olds and health coverage for all uninsured children in Illinois, and instead focus on paying for the state's pension obligations, according to a report from the Chicago - based Civic Federation.

Again, though, the new ESEA should allow states great latitude in structuring that right (for instance, they could give that choice to individual teachers, or allow a school - by - school vote); regardless, each state will have to figure out what to do with its pension obligations to teachers who switch to the new contract.

With individual states on the hook for tens or hundreds of millions in unfunded pension and health insurance obligations, state leaders are trying to determine the severity of the situation and the appropriate response.

Conversion specifics will vary by state; obviously, those with huge unfunded liabilities will have a tougher time finding an elegant solution to converting past pension obligations for teachers nearing vesting milestones.

Regarding the first two groups, without running afoul of constitutional protections, states can curtail retiree health care, as Wisconsin and Ohio did, which frees up some resources to apply to immutable pension obligations.

North Carolina's move could also clear the way for other states to take similar steps, particularly as lawmakers look for ways to control spending in the face of increased pension, public safety and health care obligations.

States, and to a lesser extent districts, have spent decades kicking the can on their pension obligations.

The question remains of how will states pay for their existing pension obligations.

States have used pension obligation bonds as a way to escape temporary budget problems, but the basic problems resurface if the state isn't disciplined enough to continue making pension contributions.

Second, decision - making responsibilities related to compensation and pension obligations should be merged so district incentives are aligned with the state.

In some places where states do currently pay the pension costs, like in Illinois, legislators are even trying to unload their pension obligations right back onto the backs of local districts.

Some public employee pension plans around the country are less than 50 percent funded, and states and localities sometimes struggle to meet their benefit obligations, especially for pensions.

Not a nickel of that money, however, went to shoring up the state's long - term pension obligations.

In its research report, the Fordham Foundation uses the PSERS system's projections of future contribution rates to estimate what Philadelphia's school system will need to pay in coming years to adequately cover its obligations within the state's teacher pension funds.

Walker, however, didn't have to worry about that, because he inherited the nation's strongest state pension system, with 99.8 percent of its obligations funded.

And no one confronted Malloy in order to force him to explain to state and local public employees how he intends to govern and meet our state's obligations, including public employee salaries, healthcare and pensions when he has promised that he will not propose or accept any tax increase during his second term as governor.

The CEA already has plans to request that the State re-amortize their pension obligations and that will help.

And, while not part of the budget for education, Illinois must also pay down the portion of the state's annual pension obligation bond payments (POBs) allotted to the Teachers» Retirement System, or TRS, which covers all Illinois elementary - and secondary - school teachers outside of Chicago.

His goal of closing tax loopholes would secure significantly more revenue for the state to direct to its pension obligations and ensure that retirees receive the full benefits they earned.

The Legislature laid out districts» obligations through 2020 - 21 in a deal three years ago to rescue CalSTRS, the state teachers pension fund, and CalPERS, the pension fund that covers state, municipal and non-credentialed school employees.

Murphy argues that together these actions will fix the problem and allow the state to meet its pension obligations to government employees.

And while that is good news for the state's own pension obligations, it will do nothing to help districts make their payments this year.

Management stated that following the spinoff, both companies will have strong balance sheets and fully funded pension obligations.

I'm merely stating that after funding the pension (in line with mgmt comments) and paying the expected dividend (while not an obligation to shareholders, mgmt knows the company's relative valuation is at least partially based on its yield relative to peers and will not likely cut it) there is no capital left for growth, share repurchaes or to raise the dividend.

For instance, coupon payments for muni bonds sold to fund those activities are federally taxed, with one common example is a bond issued to fund a state's pension plan obligation.

State pension funds have been impacted by underfunding of obligations and by the severe economic recession.