by meep
I have primarily focused on public pensions, but I also keep an eye on other types of pensions. I am very pro-reliable retirement income, and my interest got started in the difference between the valuation treatment of annuities (in which I used to work) and pensions of any sort.
That...
by meep
[Just to clarify: the proposal is to put a bunch of plans in two piles. I just didn’t want to change the blog post title.]
The governor of Illinois has released a report:
Report to Governor JB Pritzker
Illinois Pension Consolidation Feasibility Task Force
October 10, 2019
Executive Summary
Of the financial challenges facing the...
by meep
I saw that the Public Plans Database folks had a new paper out:
The update’s key findings are:
The funded ratio of state and local pensions edged up to 73 percent in FY 2018, but has been largely flat for several years and is well below its peak in 2001.
Liability growth...
by meep
I’ve not been blogging about Chicago/Illinois pensions much this summer… mainly because I’ve been very busy and been having pain issues. (I’m trying a new treatment next Thursday…here’s hoping it works!)
But it seems like a good time to do a summer wrap-up over what’s been going on. Especially since...
by meep
A higher tax on luxury real estate sales is one of Lightfoot’s new revenue solutions
In order to shrink the $838 million budget gap Chicago faces next year, Mayor Lightfoot says she wants to avoid raising property taxes but is committed to taxing pricey home sales at a higher rate.
During...
by meep
In the fifth part of this 5-part series, I look at the potential solutions of issuing bonds or a federal bailout for public pensions in crisis.by meep
OR IS IT?
(yes, there will be some pension-related stuff below, and I do have a few more public pensions in crisis posts upcoming this week)
Time for the tax stuff.
OLD STORY: THE TAXES ARE TOO DAMN HIGH IN CHICAGO
by meep
In Part 4 of this look at public pensions in crisis, I consider case studies of pension plans where the DB plans were closed. What is missing from the analysis: looking at pension plans in distress that remain open without amending benefit levels.by meep
Part 3 of the series on whether public plans are in crisis. Here, a paper by Tom Sgouros, backed by NCPERS, is looked at in detail.by meep
Second in a series on public pension stability. I look at a recent paper from Brookings, where a sample of representative public pensions are projected to see what stable situations they could achieve (including going to pay-as-they-go status). The Brookings authors define stability such that a pension fund debt is a constant percentage of state GDP. There are tables and graphs.meepbobeep