pensions

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    Retirement costs and teacher pay: West Virginia edition

    After nine days on the picket line, teachers in West Virginia are headed back to the classroom.  Gov. James Justice signed a bill passed by the Republican-controlled legislature that gives teachers the pay increase they demanded. Chad Alderman at the Teacher Pensions Blog points out that in West…
    Terry Stoops, March 8, 2018
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    Taking care of retired state employees

    State Treasurer Dale Folwell is on his way to cutting $100 million in state pension management fees. He has cut six managers and renegotiated fees producing $25 million in savings so far. Savings like this are important, but amount to a rounding error in the $90-billion state pension fund. As state pension…
    Joseph Coletti, May 9, 2017
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    NC teacher pensions well funded, not transparent or flexible

    According to a report published by the National Council on Teacher Quality and EducationCounsel, Just seven states — Delaware, Nebraska, New York, North Carolina, South Dakota, Tennessee, and Wisconsin — have teacher pension systems that are funded at 90 percent or higher. Of those, only South Dakota and Wisconsin…
    Terry Stoops, February 22, 2017
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    Pension costs outpace per-pupil spending

    According to “Feeling the Squeeze: Pension Costs Are Crowding Out Education Spending” by Josh B. McGee of the Manhattan Institute, North Carolina was one of eight states that had declining per-pupil expenditures and growing pension contributions between 2000 and 2013. Education is the largest and potentially the most important…
    Terry Stoops, October 18, 2016
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    Companies buyout former employee pensions

    The government has its fair share of pension problems, but for private companies that also offer pensions – they have their problems too.  An article from the Wall Street Journal talks about what is going on in the world of private pensions. More companies are preparing to offer lump-sum…
    Sarah Curry, September 9, 2015
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    New accounting rules will require states and local governments to fully fund their obligations

    Government has a set of accounting standards they must abide by when reporting their financials.  These rules are managed by the Governmental Accounting Standards Board (GASB).  In 2012 GASB created a new rule requiring state and local government’s to disclose their pension and other unfunded obligations in their financial statements. …
    Sarah Curry, June 9, 2015
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    Why NC Pensions are so lucky…

    North Carolina’s state employees have many people to thank for the good job done regarding their pensions.  Treasurer Janet Cowell manages the state’s pension fund and as reported by Morningstar, a renowned independent global investment research firm, NC is the third strongest funded state pension system in the country. …
    Sarah Curry, February 24, 2015
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    Stockton, California’s bankruptcy – what about the pensions?

    Last week a judge confirmed the city of Stockton, California’s bankruptcy exit plan.  The Wall Street Journal covered the decision and highlights some questions many raise about public-sector bankruptcies. Stockton declared Chapter 9 bankruptcy in 2012, and it has since rewritten labor contracts and asked creditors for writedowns. Yet…
    Sarah Curry, February 17, 2015