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Gamblers at state-owned casinos in Kansas would help prop up the pension system for teachers and government workers with each hand of blackjack and spin of the roulette wheel under a bill approved Tuesday by the state House.
The economic downturn has caused people to ask questions about their jobs and their security. It's also thrown a spotlight onto just who is responsible for retirement planning.
The nation's largest public pension fund lowered its forecast Wednesday for investment returns and asked the state of California, school districts and local governments to increase contributions a move that could siphon more money from basic services.
The budget would have a $120 million state general fund hole if lawmakers don't approve a series of pension changes Jindal wants, and it would grow with the loss of federal matching dollars.
South Carolina's House will consider a bill requiring newly hired employees to work an additional two years to collect full retirement benefits, while current employees could still retire after 28 years.
Nearly 2,000 union members demonstrated in Albany on Tuesday to urge lawmakers to block New York Gov. Andrew Cuomo's proposal to cut the taxpayer cost of pensions for future public workers.
When citizens or legislators talk about eliminating public pension plans because of their cost to taxpayers, they fail to understand the $1 trillion impact these plans have on the economy as a whole.
Public employee groups in Kansas have misgivings about a proposal overhauling the state pension system, even though it backs away from starting a 401(k)-style plan for new teachers and government workers.
The judge threw out a lawsuit brought by teachers, police officers, firefighters and public workers challenging a law that requires them to pay more for their pensions and health benefits.