We're not the only ones concerned about public pensions. Below are several news articles that touch on issues from across the country that are central to the Public Employee Benefits Reform Council's goals. If you want more general information about pensions, take a look at our Links page. Note: Some of the more recent articles from the Wall Street Journal and Barron's will not allow you to view the article in its entirety without a subscription.
Public School Pension Issues
Mackinaw Center, February 2012
San Jose Pension Reform Efforts Pass
June 2012, San Jose Mercury News
Retired Ann Arbor City Employees Collecting Over $100,000 a year
December 2011, Ann Arbor News
Court Decisions Bolster States' Pensions Cuts
July 2011: Wall Street Journal
The Big Lie: Unfunded State Government Pension and Retiree Health Benefits
Autumn, 2010: Benefits Law Journal
Pension Reform Goes to Washington
June 2011: Wall Street Journal
2011 Better Government Competition
Addressing the Issues Associated with Public Employee Retirement Benefit Funding
Muni-Bond Scrutiny Puts Pressure on Public Pension Sponsors
May 2001: Institutional Investor
Tragically for many Americans it really is a myth
The Great American Ponzi Scheme
Investors Business Daily - A thorough discussion of pension issues
March 2011 WSJ, Lower assumed rates of return force higher contributions to plans. Municiplaities fight for more optimistic return assumptions pushing the problem to future generations!
Why I'm Fighting in Wisconsin, Scott Walker, Governor
March 2011, WSJ
Illinois Pension Crisis Eludes Easy Solutions
March 2011, WSJ, Solutions may require concesssions from current workers!
State Workers and N.Y.'s Fiscal Crisis
March 2011, NY Times When the NY TImes is saying pension and healthcare have to change this is quite a shift in thinking!
Even A Wealthy Suburb Faces Pressure to Curb School Taxes
March 2011: NY Times
Feb 2011, New Your Times Opinion
University of Michigan Modifying Retiree Healthcare
February. 2011: U of M Retiree Benefits Office
Public Employee Benefits Supersized Versus Private Sector
October 25, 2010 Mackinaw Center
Public Employee Union Benefits Are a Fiscal Disaster
January 2011: US News and World Report, Coming Crisis in Municipal Finance
Defined Benefit Pensions Are Popular With Employees
January 2011: Employees stay with their current employers because of security with defined benefit plans.
State Pension Crisis
January 2011: What is real unfunded liability? Video
Government Unions vs. Taxpayers
December 2010: Minnesota reforms public employee benefits in light of heavy burden on the state and tax payers.
Union Threatens Legal Action Against City
November 2010: Positions of full-time union employees replaced by temporary contract workers due to rising costs.
State Bailouts? They've Already Begun
November 2010: State pension and retirement obligations leave large deficits.
Defeat of Proposition B Cements Labor's Power
November 2010: NY Times, Election Results on Prop B
American States' Pension Funds: A gold-plated burden
October 2010: Taxpayers forced to front the costs of retirement benefits that states cannot afford.
October 2010: American education suffers as the benefits of teachers come before those of students.
October 2010: Unions treat America's best and worst teachers as equals when pushing for rights.
New York Taxpayers Facing $200 Billion in Retiree Health Costs
October 2010: Taxpayers are expected to "foot the bill" for public employee retirement health benefits in New York.
San Francisco's Public Pension Revolt
October 2010: City cut backs in face of pension costs
State and Local Pensions: A Primer for Municipal Investors
September 2010: Unfunded pension liabilities compete with government services for funding.
September 2010: Wage growth for average American Family Stagnated in the last decade.
Case Tests Retirees' Pension Cuts
September 2010: A proposal to take away cost of living in Minnesota is supported by the union but opposed by some members who sue.
Arnold Schwarzenegger: Public Pensions and Our Fiscal Future- WSJ
August 2010: Excellent opinion piece on the State of California and pension issues
Washtenaw Community College Pension Issues
August 2010: The college is seeking to be allowed to have new employees opt out of the state pension system
Unfunded Public Pensions - the Next Quagmire- WSJ
August 2010 - Eden Martin- President of Commercial Club of Chicago
How public worker pensions are too rich for New York's - and America's blood
August 2010: A good description of the pension crisis focusing on New York city and the state of New York.
Employees Shoulder Bigger Share of Health Care Costs -WSJ
August 2010 Employees are paying an ever larger share of health care costs paying higher deductibles and on average $4,000 toward family coverage.
Economic Insights: Pension Burdens Revisited
July 2010: Article in Lord Abbett on the pension crisis many state and local governments are facing. Explains how good investment returns will not completely solve these pension problems, but changing the way pensions are calculated for new hires will.
July 2010: Two smaller unions have made concession with the city which increases their health care and pension contributions. The city is still waiting for similar concessions from the Police and Fire unions.
Facing the Nemesis: Will the Pension Crisis Bankrupt the United States?
June 2010: Article from Value Line commentaries on the possibility of a Greece-like financial meltdown caused by overly ambitious government pension plans.
Michigan's Government Employees Enjoy Unsustainable Compensation
June 2010: James Hohman commentary in The Oakland Press on the high cost of public employees in the face of increasing tax proposals. He argues that bringing state and local government employee fringe benefits in line with the private sector will save $5.7 billion annually.
Adrian School District, Custodial Employees Reach Agreement on Insurance
June 2010: From the Adrian Daily Telegram. The school district and and its custodial and maintenance staff found a way to change their health insurance plan that should save both the school district and its employees money.
France Seeks Later Retirement Age
June 2010: Article from the Wall Street Journal explains the French Government's attempt to raise the minimum retirement age from 60 to 62 in an attempt to cut the national pension plan's deficit.
Teachers' Generous Benefits Under Fire
June 2010: The Detroit News reports on the generous health care benefits many teachers in Detroit area school districts receive
The Lessons of the GM Bankruptcy
June 2010: Wall Street Journal Op-Ed article one year after the anniversary of the General Motors bankruptcy talks about three lessons learned from the event and how they should be applied to America itself.
Superintendent Retires -- For Now
June 2010: Article from the Royal Oak daily tribune that gives an example of school employees who, under new legislation, are able to retire from their jobs and receive pension benefits, but work and receive a salary at the same time.
Public Employees' Pay, Benefits Must be Reformed
May 2010: Guest column in the Grand Rapids Press by Business Leaders for Michigan President and CEO, Doug Rothwell. He gives the Business Leaders for Michigan's position that much needs to be done in the way of reforming Michigan's public sector employees' wages and retirement benefits.
May 2010: Editorial in The Washington Post comparing two similar counties in the D.C. area -- Montgomery County, Maryland and Fairfax County, Virginia -- that are alike in many ways except that one allows their employees' to engage in collective bargaining agreements while the other does not.
State Pension Plan Worst in 15 Years
May 2010: Article from the Mackinac Center about the condition of the state employees pension and retiree health care benefits funds. Also gives some background on the plans and how they work.
Public Worker Benefits Under Scrutiny
May 2010: A special report from the Center for Michigan on the mounting momentum for changing public pensions to put them in line with the private sector. Pays particular attention to Michigan State University's recent changes to retiree health care.
The Crippling Price of Public Employee Unions
May 2010: Mort Zuckerman article in US News & World Report on the cost of public employee unions and the special leverage they have which make them difficult to reign in.
The School Employee Concession Myth
May 2010: Mackinac Center article analyzing claims by the Michigan Education Association that they have made $1 billion of concessions over the past three years.
Bay City Schools Administrator's Decision to Contribute to Health Insurance Premiums Could Catch On
May 2010: Bay City Times article about the administrators volunteering to pay 20% of their insurance premiums in order to help cover the school district's funding gap.
Reforming Education Retirement Benefits has Turned into a Money Grab
May 2010: Op Ed in The Detroit News on the legislation to reform MPSERs that is currently in reconciliation. See our analysis of the proposed legislation here.
Teacher Buyouts Could Prove to be too Popular for Michigan Schools
May 2010: From the Grand Rapids News. Article on many local school districts in Western Michigan that are offering payouts to encourage employees to retire and the potential consequences of these buyouts.
Los Angeles on the Brink of Bankruptcy
May 2010: Wall Street Journal op ed from a former LA mayor and an investment advisory firm president on Los Angeles' impending bankruptcy largely due to their growing public employee class. Outlines steps they must take to solve the problem.
April 2010: Op ed from Fort Wayne's Journal Gazette about Indiana's public school teachers' pension system and the inevitability that their pensions will have to come more in line with the private sector.
Lawmakers Seek Compromise on School Retiree Plan
April 2010: From the associated press. An article about the two bills in the Michigan legislature that aim to reform the State School Employees' Retirement System.
House Vote would Force Charter Schools into Underfunded Pension System
April 2010: Article from the Mackinac Center about pending Michigan legislation details the problems with forcing Michigan's charter school teachers into the MPSERS plan, as proposed by the house version of Senate Bill 1227.
Burdensome Pension Costs are Lightning Rod for Opponents of Grand Rapids' Income Tax Proposal
April 2010: Article from The Grand Rapids Press about their pension plan. Provides details on what the highest and average pensions are as well as comparisons to other cities in Western Michigan.
April 2010: A brief Mackinac Center for Public Policy release showing how compensation for state employees has rapidly grown in recent years, and shows how much more taxpayers are paying for these employees despite a shrinking workforce.
April 2010: Stephen Henderson Op-Ed in the Detroit Free Press about how many Michigan public school teachers do not have to pay anything for their health benefits and the harm that added cost is inflicting on schools.
CalPERS $100,000 Pension Club Searchable Database Updated
April 2010: From the CFFR website: "The California Foundation for Fiscal Responsibility has updated its CalPERS $100,000 Pension Club searchable database, and the list has increased in size by almost 50%..."
Journal Editorial Report Covers the Public Pension Crisis
April 2010: "Journal Editorial Report Covers the Public Pension Crisis with cities and states facing financial ruin. Video courtesy of Fox News."
Quinn Signs Bill to Cut State Pension Costs
April 2010: Chicago Tribune article about the passage of pension reform legislation in Illinois. Their legislation reflects many of our thoughts on reforms and is a big step for a state in one of the most dire public pension funding situations.
April 2010: Op Ed by William McGurn in the Wall Street Journal that gives some of, New Jersey governor, Christie's common-sense responses to those who oppose his proposed budget cuts. Also provides an example of the lucrative benefits and pensions many public employees are receiving in retirement.
Crane vs. Low: See the Davids Battle over Pensions
April 2010: From the Sacramento Bee. Has a video from a CalPERS forum on pension costs with a heated debate between David Crane of the Schwarzenegger administration and David Low of the California School Employees Association. Also contains a link to a previous Sacramento Bee article
Cash-Poor Cities Take On Unions
April 2010: Wall Street Journal article on how many cities are asking their unions for concessions and gives details on the discrepancy between public and private employees' pensions and benefits.
School Pension Reform Stalls in Senate
April 2010: Article from the Mackinac Center for Public Policy about the attempted passage of proposed reforms to the Michigan School Employees Retirement System (MPSERS). Provides useful background on the school pension plan and gives a good overview of the major changes proposed. Update: bill recently passed in the Senate and is currently waiting on the House's approval.
Bill Allowing State Nurses to Collect Pensions while Still Working Passes Overwhelmingly
March 2010: From the Mackinac Center for Public Policy: "Michigan House Bill 4248 would allow retired nurses who worked for the state Department of Corrections to return to a job with the department on a part-time basis and collect both their full pension payout and a salary..."
Trillion-Dollar Pension Crisis Looms Large over America
March 2010: Institutional Investor article that describes the massive nationwide underfunding of public pension funds.
Public Pension Deficits are Worse than You Think
March 2010: Andrew G. Biggs Op Ed in the Wall Street Journal giving his estimate on on the underfunding of pension plans for state government employees. Shows the problem with accounting practices used by many public pension funds and points out that shortfalls will land on taxpayers. Estimates that the typical state employee pension plan has only a 16% chance of solvency.
Cuomo Probes Pension 'Spiking'
March 2010: Wall Street Journal article about the New York state's attorney general's look into reforming pension spiking. Provides a look into the problems of pension spiking and how much it ends up costing the public.
March 2010: From Barron's, "Promised pension benefits for public sector-employees represent a massive overhang that threatens the financial future of many cities and states..."
The Woeful State of the States
March 2010: Barron's article that outlays many of the budget problems states across the country are now confronting due to overspending brought about by unrealistic expectations of investment returns and the high price of civil servants and their benefits.
February 2010: Ryan Stanton article from AnnArbor.com about the high price the city of Ann Arbor is paying its employees--particularly in health care benefits. Also provides a brief description of Public Act 312 which requires arbitration in municipal police and fire labor disputes.
Illinois Seeks to Boost Taxes, Cut Spending
February 2010: Wall Street Journal article on Illinois' growing debt in the face of skyrocketing pension obligations and the difficult budgeting choices the state is consequently confronting.
February 2010: From the Wall Street Journal, "It's now official: In 2009 the number of unionized workers who work for the government surpassed those in the private economy for the first time..."
Pension Obligation Bonds: Financial Crisis Exposes Risks
January 2010: Research piece from the Center for Retirement Research at Boston College explaining pension obligation bonds, which many states and municipalities are resorting to in an attempt to cover their unfunded liability, and the risks involved.
Public Employee Unions are Sinking California
January 2010: Steven Greenhut Op Ed piece in the Wall Street Journal on the problems California is having funding its promised pensions and benefits.
ALEC Report Card on American Education
2008: Report finds that academic achievement cannot be accounted for by any one or combination of the following measures of public investment: pupil-teacher ratio, per pupil expenditures, teacher salaries, funds from federal government. Also has Michigan Snapshot, which ranks Michigan 42 out of 51 ranked regions.
Financing Michigan Retired Teacher Pension and Health Care Benefits
September 2004: A research article from the Citizens research council of Michigan detailing the underfunding of pension and health care benefits provided by the Michigan Public School Employees Retirement System.