Over two years ago, this blog site was one of the first in the state to highlight the new accounting rules showing the State of Indiana had hidden its unfunded pension debt Continue reading →
Tag / retirees
State of Indiana Pension Debt Getting Worse
Several accounting changes have taken place in the last few years for states to show more transparency in how they report their pension debt. Continue reading →
REPORT: Local & State Pension Funds Losing Money
Local and state government employees better brace for pension cuts.
Report: Social Security Faces Possible Cuts in 2019
While going through the 2016 Annual Report for Social Security and Medicare, I stumbled across the main theme Continue reading →
State Pensions Are A Ticking Time Bomb
Former Federal Reserve advisor Danielle Booth is out with a bold statement about state pensions. Continue reading →
Social Security Administration Summed Up in One Picture
Obamacare Tax to Hit Retired Police & Teachers in 2018
Whoever wrote Obamacare as a law did a pretty good job in kicking some of the worst parts down the road
Continue reading →
Local & State Pensions About to Change
In 2012 an accounting rule was implemented by the Governmental Accounting Standards Board. The board told local and state municipalities
Indiana Ranked 16th on Fiscal Solvency
Via USA Today –
The Mercatus Center, a public policy research group, ranked the 50 states based on how well each state government planned spending in fiscal 2013 — the most recent year for which data was available — as well as their future financial prospects. from annual budgeting to cash to pay bills, to funding for pensions and long-term plans.
Pennsylvania Pension Plans Are In Trouble
With a so called “booming” stock market states pension systems are still getting worse. Decades of shady accounting practices and too many promises have made pensions almost broke.
In Pennsylvania there is talk of pension reform after one startling find recently. Here is more from IndianaGazette.com:
Pennsylvania Auditor General Eugene DePasquale warned Friday that the growing collective municipal pension debt in the commonwealth, if allowed to worsen, will become a problem for every Pennsylvanian.
“We found 46 percent of the municipal pension plans in Pennsylvania … are in some level of distress,” DePasquale said. “Certainly the bigger dollar amounts are in Philadelphia and Pittsburgh. … Scranton is very bad.”
