Sentences with phrase «of pension crisis»

If Canada is in the midst of a pension crisis, why are fund balance sheets improving?

The same day this story grabbed most of the media's attention, the Fraser Institute released a study that questions whether there's any kind of pension crisis at all.

In While America Aged, business and finance writer Roger Lowenstein skillfully chronicles the evolution of the pension crisis in three very different entities - General Motors, New York City and San Diego - and then offers solutions.

The NJPHBSC proposed a range of changes to assist in the relief of the pension crisis and budget problems: replacing the defined - benefit plan to a cash - balance pension plan, reducing the cost of health - benefit plans, and redirecting some resulting savings to paying off the debt.

The reality of the pension crisis was underlined again last week when the board of the largest $ 330 + billion US public pension plan, California Public Employees Retirement System (CalLPERS), voted to shorten its period for amortizing future investment losses from 30 years to 20 years.

Not exact matches

The term «pension crisis» became a feature of the media coverage as finance ministers gathered in Whitehorse last December and again in June in Prince Edward Island.

«On a cumulative basis there has not been a dollar added to the US stock market since the end of the financial crisis by retail investors and pension funds.»

The stock swoon and rock - bottom rates of the financial crisis conspired to put many corporate pension plans in the danger zone.

Five years ago, she was poached from Goldman Sachs — where she made her name convincing a number of large pension funds to hedge in the run up to the financial crisis — by Bank of America to run a first of its kind on Wall Street cross-asset, cross-industry structured - strategies group («It's about solutions, not products,» she says).

The state is also suffering a major fiscal crisis that is impacting its budget, pension fund and tax revenue — and the capital city of Hartford is teetering on the brink of bankruptcy.

He criticized states for kicking the can down the road, living beyond their means year after year in a «never - ending sense of crisis» that results in «stop - and - go funding of vital programs,» such as those for infrastructure, education, pensions and city and county services.

The CLC paper predicts the current financial crisis will create a severe pensions crisis, and a follow - up paper issued on Oct. 29 calls for the creation of a new pension benefit insurance scheme (financed by the proposed tax on financial transactions) to insure annual pension and RRSP benefits for individual Canadians up to $ 60,000 a year.

And this situation is becoming worse as pensions are rapidly becoming a thing of the past, life expectancies along with accompanying health care costs are increasing, and even social security is facing a crisis point.

Here are some of the options on the table as the Federal Reserve Bank and Civic Federation assemble top experts to devise ways to deal with a pension crisis that is eating Illinois alive.

As a result, the coming years are likely to see a major pension crisis across both corporations and municipalities because the illusory front - loading of returns has encouraged profound underfunding.

Endowment funds and pension funds are reducing allocations en masse in favor of indexing and private equity, as outflows reach levels unseen since the financial crisis.

A partial but not complete list of worries includes: China melt down, Yuan reevaluation after effects or Taiwan action, global biomedical epidemics, e.g. Avian Flu, or bioterrorism outbreaks, trade wars (China, EU), major hedge fund bankruptcies, a PBGC (Pension Benefit Guaranty Corp.) shortfall crisis, major junk bond or emerging market bond default, a bank derivative blowup, Fannie Mae issues plus possible assorted natural disasters.

If Canada is facing a retirement savings crisis, then expansion of Canada Pension Plan (CPP) is only a small part of the solution.

Pensions really are in crisis, but the story is so full of large numbers, obscure projections, and dry terms like «unfunded liabilities» that not many people are paying attention.

As pension funds, hedge funds and mutual funds recovered from the crisis, traders, portfolio managers and treasurers said in interviews with Global Finance that their exposure to derivatives is actually increasing as a means of hedging against further volatility in the markets.

Cook County's crisis is no different from what Chicago, the state and numerous localities in Illinois are experiencing — out - of - control pension debt.

With the successful passage of 401 (k)- style pension reform in Michigan's state legislature, Illinois lawmakers should examine their own growing pension crisis and pursue bolder reforms to stabilize the state's finances.

The group — which includes Silvio Berlusconi's Forza Italia, the anti-immigration Northern League and the far - right Brothers of Italy party — vowed to eliminate the «damaging effects» of a landmark 2011 pension reform named after then Welfare Minister Elsa Fornero and passed at the peak of Italy's sovereign debt crisis.

The size of Illinois» pension crisis requires even bolder pension reform that includes 401 (k)- style plans for public employees.

The combined population of more - developed countries other than the U.S. is projected to decline beginning in 2016, raising the prospect of prolonged budget crises as the number of working - age citizens diminish, pension costs rise and tax revenues fall.

Comptroller Tom DiNapoli has said the pension fund remains fully funded and, at a 14.6 percent rate of return, has recovered well since the 2008 fiscal crisis.

Any changes would have to be gradual to ensure younger workers had time to prepare for the new arrangements, but Lord Turner warned that, although there was not currently a crisis of pension income or a quantifiable savings gap, there would be if action was not taken.

Given the harrowing lessons of the financial crisis, during which pension funds lost 20 to 30 percent, it's also at least five years too late.

The presentation predicted massive «membership loss... reduced staffing, pressure on CTA pension and benefits system [and] potential financial crisis in locals not positioned to survive loss of revenue.»

«We saw more and more of these bills leading up to the financial crisis and the bursting of the last pension bomb in New York state.»

In all, it's a good news, wait - and - see news assessment of the pension picture for New York, which has recovered in the years in since the fallout from the financial crisis of the last decade.

Representing $ 180 billion, New York City's pension funds have yet to take necessary bold action on par with what the climate crisis requires, explained the organizers of the action.

«This coming year is going to be one of the most challenging years for the trade union movement - and public sector trade unions in particular - as the coalition government seeks to make the public sector and its workforce pay for the crisis, through cuts to jobs, services, pay and pensions.

«Part and parcel of our burgeoning debt crisis are unfunded pension costs.

YouGov's findings therefore suggest that most people think more savings are the answer to the pension crisis, and that the majority of people would remain in an opt - out pension scheme — althought it remains to be seen how they react to the specific sort of contribution levels suggested by the Turner Report.

Now, in the midst of a budget crisis of its own making, Albany wants to buy short - term budget relief by raiding the pension fund.

Is it wise as part of addressing the pension funding crisis to take the existing inadequate assets and use them to rescue the Government's current deficit, making the problem worse in the longer term?

The nation's third - largest pension fund continues to recover the shock of the 2009 financial crisis when it lost billions of dollars in value.

If there is a pension «crisis», it's that there are too many people in poverty in their old age because of low wages, unemployment and a massive shift in income distribution away from wages towards profits over the last 50 years.

And unlike a public sector pension plan, which is protected by the state constitution and whose benefits can't be diminished even in an economic crisis, the retirement savings plan the city is proposing would be very much subject to the vagaries of the market.

Public sector pensions are unaffordable, we have no money, but as long as «WE» keep borrowing and spending, then Brown can say «HE» has done a good job of pulling us through the crisis which «HE» started.

All three towns had seen revenue such as the mortgage recording taxes drop sharply with the financial crisis of 2008 at the same time that municipal costs, including pension contributions, went up.

With the potential scandal evidently out of the way, perhaps the candidates will now focus on other differences between them: what effect, if any, the comptroller can have in navigating the state through this fiscal crisis and how to manage the huge state employee pension fund.

He insists an ambitious programme of reform can win over ordinary voters, saying: «The real middle Britain — of insecure self - employment, rip - off private pensions, unaffordable housing, mounting tuition fee debt and crisis - ridden social care — is crying out for a Labour government committed to fundamental reform.»

With an ageing population, the pension crisis and the growing burden of chronic disease, The Work Foundation is concerned that the situation will deteriorate without government action.

In keeping with the customary «more is more» approach of remake culture, this Going in Style mines the financial crisis for deeper motivation for the old timers» robbery — Caine's house is being foreclosed on, and all three protagonists see their steelworkers» pension fund dissolved.

In early 2016, spurred by a seemingly perpetual bankruptcy crisis at Detroit Public Schools (DPS)-- by this point, counting unfunded pension liabilities, the district was almost $ 1.7 billion in the red — the state senate narrowly passed a bill that would bail out the district and split it into two separate entities: the old DPS, which would exist to collect taxes and pay down debt, and a proposed new Detroit Education Commission (DEC) to oversee schooling in the city, including regulating the openings and closings of traditional public schools and charter schools.

A financial crisis loomed, in the form of pension contributions the district could not afford.

Clearly, at least some people have been concerned about the pragmatism of public pensions for decades before our current crisis.

Accordingly, at a conference of the California Teachers Association (CTA), the union briefed its activists on the potential consequences should the unions lose in Friedrichs, citing loss of revenue; fewer resources; decline in membership; reduced staffing; increased pressure on the CTA pension and benefit system; and potential financial crises for some locals.