Sentences with phrase «of pension underfunding»

However, an additional decade and a half of pension underfunding, faulty actuarial assumptions, and extra benefits for workers have driven the system's unfunded liabilities sky - high.

The vast majority of states underwent pension reforms in the past decade to address the financial challenges of pension underfunding and none abandoned their defined benefit pensions.

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 load.

As of mid-2013, the crown corporation is unprofitable and has $ 1 billion in debt, a pension plan underfunded by $ 6 billion and negative net equity of nearly $ 3 billion.

Even worse, the cost of carrying these well organized groups is very much understated: nearly all the public - sector pension plans are underfunded by hundreds of billions of dollars and taxpayers are on the hook for the difference.

The 21st century is not yet a decade old, and we have already passed through two periods when DB pension plans have faced serious underfunding and plan sponsors have asked for a relaxation of funding rules.

Bonds issued to finance things like stadiums, replenishment of a municipality's underfunded pension plan, or investor - led housing are a few examples of issues that would not qualify for federal tax exemption.

If President Trump takes some or all of that $ 1 billion funding away, all San Francisco residents will lose because we'll all be forced to pay higher taxes to help fund our inefficient city government and its underfunded pension system.

Moreover, the company keeps spending money it doesn't have on acquisitions, dividends, and buybacks, so it now sits with almost no excess cash and $ 660 million (68 % of market cap) in combined debt and underfunded pension liabilities.

Members of the Committee of retired Teachers of Puerto Rico's Teachers Federation protest against the underfunding of their pension system in San Juan on March 18, 2016.

Off balance sheet debt and underfunded pensions equal 10 % of NCR's market cap.

Tribune newspaper profits run at the roughly $ 200 million level, maybe a third of which comes out of L.A.. So, take the market multiple of 3 or 4 times that number as a price — or $ 600 million - plus — for the eight papers, even though underfunded newspaper pensions put a drag on that number.

It's an off - shoot of a big State pension plan which happens to be one of the more underfunded pension funds in the country.

The public awareness of the degree to which State pension funds are underfunded has risen considerably over the past year.

He concluded that, based on the current stated amount of underfunding at every big pension fund, if the Dow / SPX declined 10 % or more over a sustained period of time — where «sustained period» is defined as 3 - 4 month — every public pension fund in the country would collapse.

A colleague of mine who works at a pension fund did a study last year in which he concluded that, because of the extreme degree of public pension underfunding, a 10 % decline in the stock market for a sustained period — i.e. more than 3 or 4 months — would cause every single public pension fund to blow up.

Every public pension fund in the country is catastrophically underfunded, especially if strict mark - to - market of the illiquid assets were applied.

While such a large underfunding of the pension is some cause for concern, it is not large enough to offset the strong cash flows of the business.

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.

Many infrastructure projects could be financed by Canadian pension funds, many of which are underfunded, struggling and would love to have investments with almost guaranteed 7 % to 9 % yields in their portfolios.

The reason that these pension fund are so desperate is that the vast majority of them are underfunded.

According to the Center for Retirement Research at Boston Collage, US public pension funds at the state and local level are also underfunded by an average of 67.9 %.

We discuss how taxable entities with underfunded pensions have been exploring the impact of increasing funding for their plans prior to the deadline for capturing the higher deductions (the deadline is generally 8.5 months after the 2017 plan year ends, so September 15, 2018, for calendar year plans).

Pensions are woefully underfunded even if we give them the benefit of doubt on their current use of market - to - market.

Using real - world rates of return, public pensions are currently underfunded by at least $ 5.2 trillion.

Interviewed by Marina Straus of the Globe and Mail concerning the governance of Sears Canada's employee's underfunded pensions, December 12, 2017.

Pension woes blame Now that the Securities and Exchange Commission's cease - and - desist order has revealed that the state's politicians have underfunded the pension systems for 19 years, I would hope that the Tribune and others would stop blaming the employees who have their pension contribution deducted from every one of their Pension woes blame Now that the Securities and Exchange Commission's cease - and - desist order has revealed that the state's politicians have underfunded the pension systems for 19 years, I would hope that the Tribune and others would stop blaming the employees who have their pension contribution deducted from every one of their pension systems for 19 years, I would hope that the Tribune and others would stop blaming the employees who have their pension contribution deducted from every one of their pension contribution deducted from every one of their checks.

Connecticut needs a champion of fiscal responsibility who will sound the alarm about a dangerously underfunded pension system and lead the way to fiscal sanity.

Given all that Governor Malloy has done to clean up the financial wreck he inherited from Rep. Cafero, Sen. McKinney, Governor Rowland, and Governor Rell — a $ 3.5 billion deficit, early retirement incentives, borrowing for operations, underfunding pension payments, etc. — the criticism is kind of ironic.

Second, the continued operation of the system is likely to expose the soft - underbelly of modern public finance — the underfunded pension plans crying out for reforms that union leaders, along with other public employees, resist.

Failure to hit these targets, as well as underfunding generally, has resulted in pension costs consuming a progressively larger share of the education dollar.

Spiking of final average salary is one factor among many that contributes to the underfunding of defined benefit pension systems in Missouri and in other states.

As my colleagues and I discuss in a recent Brown Center report, states seriously underestimate the underfunding of their defined - benefit pension systems due to overly optimistic assumptions about the rate of return they will earn on their pension funds.

The truth is that teacher pensions are inherently expensive and are underfunded for a variety of reasons.

They're shoring up the finances of their underfunded pension plans by creating less generous plans for new workers, asking them to contribute more, and increasing penalties for mobility.

Pervasive underfunding of public pension plans has raised concern regarding the efficacy of traditional pension plan structure and design.

House lawmakers in Illinois have passed the first step toward significant reform of the state's woefully underfunded pension system, but the controversial move would limit cost - of - living increases.

School districts spend about 60 percent of their budgets on teacher and staff compensation, so a 10 percent increase in retirement contributions means roughly 6 percent of the entire budget has to be reallocated from educating children to paying off underfunded pension plans.

TPS and LGPS Pensions are viewed as a benefit but, at the end of the day, someone has to pay for them and the pensions in education — and all the public sector — are so much better than in the private sector; the figures just do not add up and both pension schemes have been underfunded foPensions are viewed as a benefit but, at the end of the day, someone has to pay for them and the pensions in education — and all the public sector — are so much better than in the private sector; the figures just do not add up and both pension schemes have been underfunded fopensions in education — and all the public sector — are so much better than in the private sector; the figures just do not add up and both pension schemes have been underfunded for years.

They could opt out and instead pay more of their salary toward a pension than current school workers do, assuming more of the risk of underfunding.

The report cited the underfunded City's pension system as the primary underlying cause of their budget deficits.

The crisis was the subject of heated parliamentary debate last week, with Teresa May's government struggling on multiple fronts to defend the idea of public services contracting, launch a convincing investigation of what happened, take credible steps to deal with what is widely seen as compensation - gouging by the company's directors, the perception of sweetheart contracts extended to a struggling company, continuing doubtsabout official and company conflicts of interest, and about the impact of still - undetermined huge taxpayer losses — not least over underfunded pensions that have now come onto its books.

CPS alleged that both the state school funding formula and the teacher pensions system are unconstitutional because they lead to the systematic underfunding of the education of low - income students and students of color.

I.e., w / interest rates on investment grade debt so low, most of these defined benefit pension plans r still dramatically underfunded.

Example of a federal income taxable, state income non-taxable muni bond: The town of Hamden, Connecticut, issued a $ 125 million pension bond to reduce the deficit in its underfunded pension plan in Feb 2015.

That $ 50 trillion does not count in state and corporate underfunding of pensions and benefits.

(The main point of the third article is that underfunded pension plans in California will lead to taxes rising further, or, some sort of compromise, with a huge political fight either way.)

But now, teacher pension plans are underfunded by billions of dollars, and states have been forced to cut benefits for future retirees.

Almost all of Canada's defined benefit pension plans are underfunded, according to a new report from the Certified General Accountants Association of Canada that was reported in Investment Executive.

In October, Ontario's Superintendent of Financial Services (FSCO) appointed Morneau Shepell to administer Sears Canada's underfunded pension plan, a first step to winding the plan down in the wave of store liquidations that are now under way.