Sentences with phrase «pension program»

Changing the public employee pension program would clearly be a bold action.

In the past workers could count on a lifetime of income through a traditional defined benefit pension program.

Several denominations have made modest beginnings with pension programs, but most black pastors can not afford to retire.

There is much debate over how safe our old - age pension programs will be over the next 20, 30 and 50 years.

This is why most pension programs hold bonds or fixed income in their portfolios in order to «match - up» fixed liabilities associated with pension payments.

Public sector teachers are generally better paid and have superior pension programs.

Corporate employers en mass largely have dumped defined benefit retirement pension programs.

Though the Chinese government is currently trying to expand health insurance and pension programs for its citizens, it faces challenges given the rising cost of living and health care.

We support defined benefit pension programs that provide a stable and secure retirement for all government employees.

Traditional public employee pension programs in New York State have become unaffordable for taxpayers — while denying workers the ability to choose more flexible approaches to retirement planning.

Italy's state pension program used to offer generous benefits, but they've been gradually declining since 1995.

Milwaukee County and the city of Milwaukee have their own pension programs.

This reduced funding, argued proponents of the bill, could be offset at the district level by employee contributions to health - care and pension programs as well as savings gained by local school districts exercising greater autonomy over spending.

One of the biggest problems, according to Fred Vettese, chief actuary at Morneau Sobeco, is the fact that the federal government isn't forcing businesses without existing pension programs to offer the plan.

Despite Malloy's constant refrain that Connecticut's pension systems were unsustainable, as part of his 5,036 line education reform bill, Malloy's operatives inserted a «technical» change to the state's Teacher Retirement Pension Program starting at line 3,573.

He points out that government pension programs like OAS and the Guaranteed Income Supplement (GIS) do a good job taking care of the poor, while the rich thrive nicely in retirement without help.

• Limit districts» practice of making long - term commitments that they may not be able to fulfill by, for example, encouraging them to shift to defined - contribution pension programs and modifying tenure systems to allow for staffing adaptations.

$ 119.1 billion of those unfunded liabilities are tied to shortfalls in the state's failing pension program.

Meanwhile, legislative leaders have told the governor they don't believe a «memorandum of understanding» the administration inked with unions in exchange for their endorsement of a less generous pension program is legally binding — if only because it wasn't signed by Paterson.

A spurt of pension legislation was passed in the years immediately prior to passage of the Social Security Act, so that 30 states had some form of old - age pension program by 1935.

In an interview with WCBS 880's Steve Scott, Paterson noted that he vetoed a bill in 2009 that would have extended a long - standing pension program for police, saying he believed pensions are «killing our economy» and didn't feel the police union was negotiating fairly with the state.

Overhauling the state's massive pension program has become a political priority in recent years as taxpayer costs exploded.

While front - line workers now need 10 years of service to vest in their modest pension program, the politically favored few can literally take the money and run after just one year of service — so it's like getting a cash bonus windfall they didn't earn.

Governor Paterson worked hard to create a more reasonable pension program for new state workers, but some of these bills undo that progress.

«Both state and national governments in Mexico, like those throughout Latin America, have expanded pension programs in recent years,» said study co-author Emma Aguila, assistant professor with the USC Price School of Public Policy.

«This work provides insight on what pension programs might accomplish in developing nations, which are beginning to address these issues.»

The State Teachers Retirement System of Ohio, one of the nation's largest pension programs for teachers, didn't make enough return on its investments in the last fiscal year to provide the bonus, said Herb Dyer, the fund's executive director.

Judge James R. Miller ruled on Sept. 25 that the legislature's decision to change the state employees» pension program earlier this year by putting a cap on cost - of - living increases, reducing benefits, and increasing employee payments was «a reasonable response to an important public concern... and justified by a rational legislative purpose.»

As a number of commentators have noted, the economic downturn offered school systems the opportunity to alter expensive, outdated practices such as strict salary schedules, protective tenure rules, and bloated pension programs.

The paper cited the «decision to sweeten an already lucrative pension program in 1998 [as] a classic example of how public employee benefits are enhanced, often with privileged insiders pushing for the deal, and little study in advance.»

On February 8, the Belgian parliament passed a law (Pensioenovereenkomst voor Zelfstandigen, or POZ) that introduces a voluntary second - pillar pension program for self - employed persons who are not company directors.

The PRPP (pooled registered pension plan) is a more recent workplace pension program that behaves more like a defined - contribution plan, but is by no means universal and places investment risk on the shoulders of plan participants.

It is Canada's biggest pension program and taxpayers do not pay into it directly.

1776 — The National Pension Program for Soldiers was passed even before the Declaration of Independence was signed.

The GIS is an income - tested pension program that, together with Old Age Security (OAS), helps low - income seniors avoid poverty.

The government has a lot of work to do in simplifying Canada's pension system including harmonizing the retirement age across the OAS, CPP and occupational pension programs not to mention ensuring that those who will rely on GIS income in retirement won't pay a hefty penalty for participating in the forthcoming Pooled Registered Pension Plans (PRPPs).

While the national OAS / CPP / GIS pension programs cover much of this risk for low income workers, that is generally not the case for middle - income workers without DB plans.

With support from the Texas Bar Foundation and the federal government, TLSC created self - help materials for persons who need assistance in securing benefits under company sponsored pension programs.

Restructuring of the current pension program is surely the need of the hour and this decision is bound to attract praise from all quarters.

Traditional public employee pension programs in New York State have become unaffordable for taxpayers

This should give you an idea of how bad things are there: On top of the state pension program being utterly insolvent, Illinois can't even afford to pay lottery winners or feed prisoners.

Actuaries usually work with pension programs, insurance companies, consulting firms and other benefits programs where... Read More»

The city of Milwaukee and Milwaukee County have their own pension programs.

In a new article for Education Next, Michael Podgursky explains that school district administrators are unlikely to lead any type pension reform because they benefit enormously from the existing pension programs (at the expense of younger teachers).

In a bill that has 5,036 lines of text, one has to fast forward to line 3,573 to find the «technical» changes to the language of the state's Teacher Retirement Pension program.

And of course, they can also benefit from the government pension programs — CPP, OAS, and potentially GIS.

~ Health benefits in pension program held to be vested contractual entitlement of retirees which could not be changed unilaterally by employer ~

A compromise will likely still involve severe cuts to services, along with possible cuts to the state worker's pension program, which costs $ 6 billion annually.