Pensions
Illinois Lawmakers Pass Firefighter Pension Bill Upping Benefits
The move would add $18 million in extra inflation-adjustment benefits for its first year, expanding the liability for the poorly funded plan.
Tag: Firefighters
Regulation
Jewelry Wholesaler Charged with Defrauding Retired Police, Firefighters
Gregory Altieri, who pleaded guilty to running $200 million Ponzi scheme, faces up to 20 years in prison.
Asset Management Culture
NJ Plan Seeks to Let Police Officers and Firefighters Retire Early
Called the ‘burnout bill’ by advocates, pension beneficiaries could retire after 20 years, but get no health benefits.
News
Move could boost returns by $2.5 billion over five years.
Illinois Passes Police, Fire Pension Consolidation Bill
Move could boost returns by $2.5 billion over five years.
Risk
Chicago Moves to Consolidate More than 650 Pensions
Task force cites lower overhead costs and access to larger pools of capital as benefits to the potential mergers.
UK Supreme Court Pension Ruling to Apply to All Public Sector Plans
Government estimates rectifying age discrimination will add approximately £4 billion per year to plan liabilities from 2015.
Newsmakers
Rhode Island Supreme Court Upholds Cranston Pension Cuts
High court reluctantly rejects challenge to 10-year suspension of COLAs.
Regulation
New Illinois Bill Would Consolidate more than 650 Police and Fire Pensions
Debates ensue over projected returns, transition costs, and throwing the fund’s impeccable funded ratio off-balance.