Sentences with phrase «state employee pension»

This is primarily driven by capital gains and losses in state employee pension funds.

In 2009, after the Crash of 2008, social insurance revenue was -2.7 percent of GDP, due to a loss of $ 0.5 trillion in state employee pension funds.

State Treasurer Denise Nappier's powerful statement about Malloy's State Employee Pension Proposal

More to come on this important issue, but it is vital that public officials, the media and the public understand how the state employee pension system actually works before talking about specific reforms.

The changes to the state employee pension system were calculated to save the state $ 237 million this year.

In order to address that problem, Governor Dannel Malloy is proposing to dramatically change the way Connecticut funds its state employee pension system.

The average full - career state employee pension, combined with Social Security where it's offered, provides an 87 percent replacement rate, meaning these workers can expect to receive $.87 in retirement for every $ 1 they were earning pre-retirement.

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.

DiNapoli was in Rochester Tuesday to highlight seed money investments the state employee pension fund is making in businesses across the state to help foster growth and create jobs.

In a blog post for the think - tank's website, McMahon takes issue with AFL / CIO President Denis Hughes» statement that with the high rate of return on the state employee pension fund during the last fiscal year, the need for an overhaul of the system (i.e. less generous benefits, is unnecessary).

At the con - ConCon forefront are public employee labor unions which, as noted above, realistically worry that eliminating the constitutional prohibition on reducing state employee pensions will be a focus of a ConCon.

He also discussed cutting state employee pensions to cut the budget.

On Tuesday Malloy warned the leaders not to adopt legislative changes to state employee pensions that were in the Republican budget he vetoed.

And New York State Comptroller Tom DiNapoli sits down with Casey Seiler to explain why he opposes the governor's new plan for state employee pensions.

New Jersey has been ordered to restore funds for urban schools, while in Florida a class action brought by the state's teachers union seeks to protect state employee pensions from the budget knife, a fresh field of litigation.

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.

Other top pension PE players over the same period were the Teacher Retirement System of Texas (15.5 percent); the Houston Firefighters» Relief and Retirement Fund (13.6 percent); the Minnesota State Board of Investment (14.4 percent); and the Iowa Public Employees» Retirement System (14.1 percent).

State and local employees» contributions to the two largest pension systems increased by 10 %, from 5 % to 5.5 % of their annual salaries and increased the retirement benefit age for new public employees, from 55 to 60 years.

[74] In 2008, Corzine approved a law that increased the retirement age from 60 to 62, required that government workers and teachers earn $ 7,500 per year to qualify for a pension, eliminated Lincoln's Birthday as a state worker holiday, allowed the state to offer incentives not to take health insurance and required municipal employees work 20 hours per week to get health benefits.

He plans to make a $ 681 million payment to the state's pension funds, which will cover the costs of benefits earned by active employees during the year.

In the next fiscal year, New Jersey's pension system will reach a «tipping point» to where it will pay more for retiree health premiums than active employees, a first in the state's history and «unsustainable,» the governor said.

States, through their employee pension plans, sponsor excellent financial institutions that, on a not - for - profit basis, get the highest returns for the least cost.

John Ruffalo, CEO of OMERS Ventures, the venture arm of the Ontario Municipal Employee Retirement System, and one of Canada's leading pension funds, recently stated: «I believe that the technology community knows how good Canada is as a hotbed of technology.

The New York City Employees» Retirement System; the New York City Fire Department Pension Fund; the New York City Teachers» Retirement System; the New York City Police Pension Fund; and the New York Board of Education Retirement System, as joint filers (NYC Retirement System), c / o The City of New York, Officer of the Comptroller, 633 Third Avenue, 31st Floor, New York, New York 10017, which in the aggregate held 12,707,578 shares of common stock on November 15, 2011, the New York State Common Retirement Fund, whose address is the same as that of the NYC Retirement System, which held 19,560,008 shares of common stock on November 22, 2011, and the Illinois State Board of Investment on behalf of the State Employees» Retirement System of Illinois, c / o 180 N. LaSalle Street, Suite 2015, Chicago, Illinois 60601, which in the aggregate held 928,927 shares of common stock on November 18, 2011, the Judges» Retirement System of Illinois and the General Assembly Retirement System of Illinois, as co-filers, intend to submit a resolution to stockholders for approval at the annual meeting.

South Carolina state government salary South Carolina Salaries Total state spending: $ 21.4 billion (2014 estimate) South Carolina Budget and Finances South Carolina Public Pensions More Information: Other State Salaries Public Employee Salaries Public Pensiostate government salary South Carolina Salaries Total state spending: $ 21.4 billion (2014 estimate) South Carolina Budget and Finances South Carolina Public Pensions More Information: Other State Salaries Public Employee Salaries Public Pensiostate spending: $ 21.4 billion (2014 estimate) South Carolina Budget and Finances South Carolina Public Pensions More Information: Other State Salaries Public Employee Salaries Public PensioState Salaries Public Employee Salaries Public Pensions...

The state's unfunded pensions — for teachers, professors, state employees, judges, emergency personnel and more — could be as high as $ 250 billion.

The problem is that the state - mandated pension plans for school - district employees are defined benefit plans, which means the amount of future benefits is guaranteed and has to be funded by the taxpayers and / or investment income.

As the state is struggling to pay pension costs and balance the budget, new statistics show that the top 10 retired state employees are all receiving more than $ 225,000 per year from the state.

A 2015 survey of state and local pension funds found that the lowest combined exposure to these asset classes was 61 % for the Missouri State Employees Retirement Systate and local pension funds found that the lowest combined exposure to these asset classes was 61 % for the Missouri State Employees Retirement SyState Employees Retirement System.

Those bumps increased his pension from roughly $ 180,000 a year to more than $ 250,000, the highest in the state's municipal employee retirement fund.

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.

Blaming the Pension problem on the legitimate Civil Servants in the State, Counties, Municipalities and non-faculty School District employees is a fiction being promoted by the «Insiders» and their Business Council allies, the latter whom saw their defined contribution pension funds tank and with it those in retiree status or near retiree status losing half of their nesPension problem on the legitimate Civil Servants in the State, Counties, Municipalities and non-faculty School District employees is a fiction being promoted by the «Insiders» and their Business Council allies, the latter whom saw their defined contribution pension funds tank and with it those in retiree status or near retiree status losing half of their nespension funds tank and with it those in retiree status or near retiree status losing half of their nest eggs.

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.

Should pensions stay in defined - benefit for all state employees?

Harry Wilson is out of the country, but he couldn't help weighing in on the pension reform debate raging back home in New York, where his 2010 opponent, state Comptroller Tom DiNapoli, is under fire for opposing Gov. Andrew Cuomo's call for creation of a sixth pension tier with a 401 (k)- style option for new state employees.

Cuomo did call for some things that will be unpopular with public employee unions (freezing pay, creating a Tier VI in the pension fund, reducing the size of state government — a move that will undoubtedly necessitate job cuts, but he makes no mention of that I can find in «The New NY Agenda: A Plan for Action»).

Government employees can earn pension benefits that are exceptionally generous by private - sector standards — and guaranteed by the state Constitution.

Prime Minister Orbán, National Economy Minister Matolcsy and other government officials referred to employees who relinquished their private pension - fund savings as those who had chosen to «return to the state pension system.»

On July 22, 2011, government Pension Defense Commissioner Selmeczi announced that 2.45 million of the 3.02 million employees who had relinquished their private pension funds to the state would receive average real yields of slightly over 76,000 forints on thesePension Defense Commissioner Selmeczi announced that 2.45 million of the 3.02 million employees who had relinquished their private pension funds to the state would receive average real yields of slightly over 76,000 forints on thesepension funds to the state would receive average real yields of slightly over 76,000 forints on these funds.

On December 13, 2010, National Assembly representatives from the Fidesz - Christian Democratic People's Party governing alliance approved the government - sponsored legislation compelling employees in Hungary to retain either their private pension - fund savings or their eligibility for state pensions.

State Senate Democrats have reaped $ 85,000 in election - year campaign contributions from the state teachers union since they skipped last month's vote to cut pension benefits for new teachers and other public emploState Senate Democrats have reaped $ 85,000 in election - year campaign contributions from the state teachers union since they skipped last month's vote to cut pension benefits for new teachers and other public emplostate teachers union since they skipped last month's vote to cut pension benefits for new teachers and other public employees.

Albert Teichman, Chief Assistant to Rice in her former position as Nassau County District Attorney, was accused of double - dipping in the state's public employee pension program.

New York Governor Andrew Cuomo previously has said he planned to halt future fossil fuel investments in the state's public employee pension fund.

Malliotakis» expressed view matches that of much of organized labor, opposing a convention on fears that it could result in weakening or eliminating the existing state constitution's prohibition on reducing public employee pensions.

That law allowed for the pensions of subsequently elected legislators to be taken after a criminal conviction, and defined «public official» in a way that also included rank - and - file state employees but excluded police officers, firefighters and teachers.

In 2012, he pushed to reduce pension benefits for new public employees in exchange for allowing legislators to draw their own district lines, breaking a campaign promise to reformers and helping Republicans retain their grip on power in the state Senate.

Double dipping is a term used to describe the practice of allowing government employees to retire, start collecting a pension and then return to work for the state while continuing to receive pension benefits.

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.

All of you double and triple dippers are giving the average state employee (with a single modest pension) a bad name.