Retirement Trends

The POA has mounted a concerted effort to reduce staffing in our police department, which has undermined the department and increased the workload on the remaining officers, said Mayor Reed via email to BenefitsPro.

Dozens of residents and organizations turned up at a Connecticut Senate committee hearing today to voice their support for a proposal that would set up a state-run retirement plan open to all Connecticut residents and businesses.

There could be a brutal correction across financial markets, says billionaire hedge fund manager Seth Klarman, founder of the Baupost Group.

The summary states that the initiative eliminates constitutional protections for vested pension and retiree health care benefits for current public employees, including teachers, nurses, and peace officers, for future work performed.

OPM processed some 18,500 applications in January and February, the traditional peak months for new cases, compared to 27,900 during the same period last year.

The bungalow suburb of 37,000 residents asked Michigan for a review of its finances, which are so shaky that it diverted $2.5 million to pensions from a water and sewer account.