Sentences with phrase «of local government pensions»

The Ogun Bureau of Local Government Pensions says it has paid about N2.7 billion as pensions from January to September, an official said on Thursday.

Mr R, who was employed by Birmingham City Council and a member of the Local Government Pension Scheme (LGPS), requested ill - health early retirement (IHER).

• Acting for the successful Claimant in R (on the application of the Palestine Solidarity Campaign) v Secretary of State for Communities and Local Government [2017] EWHC 1502 (Admin), a challenge to guidance from the defendant Secretary of State which sought to prohibit the administering authorities of the local government pension schemes from adopting policies of boycott, divestment and sanction against foreign nations (led by Nigel Giffin QC).

Our public sector pensions practice covers administering authorities of the Local Government Pension Scheme, cross-border public sector schemes, and work for central government departments on all aspects of pensions law.

Acting for administering authorities of the Local Government Pension Scheme on their investment arrangements.

Not exact matches

In an era when the pension liabilities of local governments remain a concern, investors may want to consider the debt offered by established public enterprises — airports and utilities, for example — as an attractive alternative to lease revenue and pension obligation bonds.

(The balance is made up of debt owed by local governments and the Canada and Quebec pension plans.)

Total government sector net debt consists not only of the net debt of the federal government but also that of the provinces, territories, local governments and the Canada and Quebec Pension Plans.

On hand will be several of our Sector Leads and analysts to review and discuss S&P Global's research related to credit pressures facing U.S. states and local governments, with a focus on pension issues and emerging risks / trends in public finance.

In the 2006 Budget, the government promised to reduce the deficit by $ 3 billion per year; to reduce the federal debt - to - GDP ratio to 25 per cent by 2012 - 13; to eliminate the total government sector debt (which includes the federal, provincial and local governments as well as the Canada and Quebec pension plans) by 2021; and finally, to keep the growth in program expenses below the rate of growth in nominal GDP.

New accounting rules are likely to show that public pension plans could face hundreds of billions of dollars in additional liabilities, putting new pressure on state and local governments to act.

DEBT Pension Deficits: While Private plans have an estimated deficit of just $ 465 billion, Public plans of local, state and the federal government in the US are estimated to have something like $ 1.6 trillion!

Communities across Illinois are being forced to cut local services and raise taxes to afford their pension payments, putting residents who rely on local government services at risk because of the inherent failures of defined - benefit plans.

In general, we live in a time where the competitive imperatives of the twenty - first century marketplace are eroding the safety nets on which we have come to depend — from our government entitlements to pensions to employer and employee loyalty to responsible local leadership.

May sits on the House pension committee and called for hearings to delve into the Illinois Municipal Retirement Fund, which manages taxpayer - backed pensions for thousands of local government employees.

By our calculations, Osun state pensioners alone got at least, N1, 539,227,442.75 out of the N14.2 billion paid to active and passive workers in the last two weeks as arrears of 4 months salaries and pensions excluding what the local government pensioners were paid for the same period.»

The point of public pension reform is to reduce the risk for New York taxpayers, who — in addition to their own financial concerns — now stand behind a constitutional guarantee of defined - benefit pensions for all current and future state and local government retirees.

«Years of overspending and exorbitant pension costs, compounded by a staggering recession, have left many of our local governments on life support.

Cuomo has long sought to consolidate and scale back the size of local governments in New York, which he has blamed for the state's high property taxes — an assertion budget watchdogs say is more tied to the cost of programs like Medicaid or employee pensions.

Miner has been critical of the pension smoothing plan that Cuomo proposed in his initial budget plan that allows local governments to lock in stable rates now at the expense of future savings down the road.

The bill allowing all veterans to buy added pension time was vetoed by Cuomo last year because, notwithstanding a clause in the governor's Tier 6 pension reform, it failed to appropriate money to cover the projected state and local government share of the «past service» catch - up cost of the measure.

The stable pension contribution rate for local governments and schools, submitted as part of the Executive Budget, will provide a new tool for local governments to access the long - term savings from Tier VI and have greater predictability in their fiscal planning.

A more formidable challenge to Cuomo from the left could come from Syracuse Mayor Stephanie Miner, a former ally of the governor who resigned as his state party chair after disagreeing on local government and pension policy.

Today's announcement comes as part of ongoing discussions about local government pensions schemes.

Forand also cited DiNapoli's audits of state and local governments and school districts that save taxpayers millions of dollars statewide while using the investment clout of the pension fund to influence corporate behavior such as in addressing climate change.

The measure is designed to provide up to three years of additional pension credit for an expanded pool for state and local government employees with military service.

«The creation of new national investment products, such as local government bonds, to fund this work and provide a safe haven for pensions and savings.

BTW, Smith, I think that you're a retiree of a police or fire department — the folks who ARE responsible for local governments being mowed down by pension liabilities.

There will be thousands more Councillors; # millions more in allowances and expenses, and the possible additional burden of their pensions because they can all choose to join the gold - plated; index - linked; taxpayer - funded, final - salary Local Government Pension Scheme.

· Allowing counties an option to modify how they fund state mandated pension contributions · Providing counties more audit authority in the special education preschool program · Improving government efficiency and streamlining state and local legislative operations by removing the need for counties to pursue home rule legislative requests every two years with the state legislature in order to extend current local sales tax authority · Reducing administrative and reporting requirements for counties under Article 6 public health programs · Reforming the Workers Compensation system · Renewing Binding Arbitration, which is scheduled to sunset in June 2013, with a new definition of «ability to pay» for municipalities under fiscal distress, making it subject to the property tax cap (does not apply to NYC) where «ability to pay» will be defined as no more than 2 percent growth in the contract.

When investment returns tanked during the great recession, local governments were forced to pay more of this pension bill.

On the cost of pensions: Astorino said Syracuse Mayor Stephanie Miner is right when she says the biggest uncontrolled costs in local government are in employee pensions and health care.

Pension rates are one of the reasons many local governments, including the city of Syracuse, say they are in financial peril.

Local government - mandate relief, reform of government pensions and benefits, job - creating tax reform and education reform are only some of the politically difficult matters requiring Albany's attention.

New Yorkers know Tom is looking out for their pensions, helping guide local governments off of shaky fiscal ground and he's always there to help.

Since the state Constitution guarantees pension benefits for current employees, pension reform needs to be understood as a strategy that will impact state and local finances for the next generation of government workers and taxpayers, not current workers and taxpayers.

Though pension costs are often only a small part of local governments» total budgets - 5 percent in Suffolk this year and 3.7 percent in Nassau - they're a growing burden, officials said.

Miner, a former ally of Governor Andrew Cuomo, resigned as his state party chair after disagreeing on local government and pension policy.

The governor called for a new tier in the state pension system that he said will save the state and local governments outside of New York City $ 83 billion and New York City $ 30 billion over the next 30 years.

Our Karen DeWitt asked the Assembly leader if he was in favor of the «pension smoothing» plan outlined by the governor that will allow local governments to lock in a rate now to reduce current payments while defering a portion of the costs down the road.

Prime minister: David Cameron Deputy prime minister: Nick Clegg (LD) First secretary of state and foreign secretary: William Hague Chancellor of the exchequer: George Osborne Home secretary: Theresa May Defence secretary: Philip Hammond Business secretary: Vince Cable (LD) Work and pensions secretary: Iain Duncan Smith Energy and climate change secretary: Ed Davey (LD) Education secretary: Michael Gove Communities and local government secretary: Eric Pickles Scotland secretary: Michael Moore (LD) Chief secretary to the Treasury: Danny Alexander (LD) Leader of the House of Lords: Lord Strathclyde Attorney general: Dominic Grieve

The New York pension fund for state and local government workers shows an investment return of less than 1 percent for the last quarter with an estimated value of $ 182.5 billion.

Shadow First Secretary of State, Shadow Secretary of State for Business, Innovation and Skills Angela Eagle MP Shadow Chancellor of the Exchequer John McDonnell MP Shadow Chief Secretary to the Treasury Seema Malhotra MP Shadow Home Secretary Andy Burnham MP Shadow Foreign Secretary Hilary Benn MP Opposition Chief Whip Rosie Winterton MP Shadow Secretary of State for Health Heidi Alexander MP Shadow Secretary of State for Education Lucy Powell MP Shadow Secretary of State for Work and Pensions Owen Smith MP Shadow Secretary of State for Defence Maria Eagle MP Shadow Lord Chancellor, Shadow Secretary of State for Justice Lord Falconer of Thoroton Shadow Secretary of State for Communities and Local Government, Shadow Minister for the Constitutional Convention Jon Trickett MP Shadow Secretary of State for Energy and Climate Change Lisa Nandy MP Shadow Leader of the House of Commons Chris Bryant MP Shadow Secretary of State for Transport Lilian Greenwood MP Shadow Secretary of State for Northern Ireland Vernon Coaker MP Shadow Secretary of State for International Development Diane Abbott MP Shadow Secretary of State for Scotland Ian Murray MP Shadow Secretary of State for Wales Nia Griffith MP Shadow Secretary of State for Environment, Food and Rural Affairs Kerry McCarthy MP Shadow Minister for Women and Equalities Kate Green MP Shadow Secretary of State for Culture, Media and Sport Michael Dugher MP Shadow Minister for Young People and Voter Registration Gloria De Piero MP Shadow Minister for Mental Health Luciana Berger MP Shadow Leader of the House of Lords Baroness Smith of Basildon Lords Chief Whip Lord Bassam of Brighton Shadow Attorney General Catherine McKinnell MP Shadow Minister without Portfolio Jonathan Ashworth MP Shadow Minister for Housing and Planning John Healey MP

«Despite the rabid tabloid headlines that these pensions are «gold plated», the average local government pension is just # 4,000 - a-year and over half of female NHS employees can expect an average of # 3,500 - a-year — hardly a fortune after a life time of work.

At the same time, two major drivers of local government spending that officials on that level can't control, pension rates and Medicaid costs, are expected to decline and seen slower growth respectively.

Miner and DiNapoli, Democrats both, have differed with Gov. Andrew Cuomo on a variety of issues (Miner was a state party co-chair, but openly challenged the governor on issues such as state aid to local governments and smoothing out pension costs).

Pension rates will increase for local governments as the system continues to recover from the initial economic recession and market crash of 2008, Comptroller Tom DiNapoli said today.

Durant says the best way to reduce costs for schools and local governments, and reduce property taxes, is to get rid of mandates on governing health care, pensions, and limits on construction contracts.

Towns, cities, counties and other local governments will see another year of sharply rising pension costs to make up for the previous shortfalls created by the recession.

Cuomo credits the budget, as well as agreements approved in mid-March, for implementing new teacher evaluations, pension changes that create a new tier of lowered benefits for public employees, and helping local governments with Medicaid costs.