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The Kansas governor appointed five people to a new commission that will study whether Kansas should move toward a 401(k)-style pension plan for new teachers and government workers.
The move to stabilize New Jersey's underfunded pension and health care systems by requiring public workers to pay sharply more for the benefits while suspending bargaining over health care was fast-tracked through the Legislature Monday, after Democrats joined with Republicans to buck the powerful public employee unions.
Bucking the state's powerful public employee unions, the New Jersey Senate on Monday passed a bill requiring sharply higher contributions for health benefits and pensions from more than a half-million government workers, while suspending unions' ability to bargain over health care.
AARP's CEO A. Barry Rand released a statement Friday, saying the group's position on Social Security hasn't changed, despite media reports that it no longer opposes cuts to Social Security benefits.
New Jersey legislation requiring public workers to shoulder a larger portion of their pension and health benefits costs and restricting collective bargaining over health care picked up steam this week.
The leader of the New Jersey Assembly has agreed to post a bill requiring all public workers to pay more for health care and pension benefits for a hearing, despite an initial reluctance to move the measure forward without a majority of Democrats backing it.
Retirement officials are worried that Congress, in its efforts to reduce the federal deficit, will look to pilfer the tax expenditures for employer-provided retirement planswhich totaled $112 billion in fiscal year 2011, James Klein, president of the American Benefits Council, said in testimony before the House Subcommittee on Health, Employment,...
Experts at the American Society of Pension Professionals & Actuaries say electronic delivery for legally required defined contribution plan disclosures is more user-friendly and will help plan participants more easily understand and respond to the information provided.