• Headlines

    US public pensions need more than investment windfall | March 10, 2014

    The higher-than-expected returns since 2012 are welcome, but experts say they don't make up for a legacy of insufficient funding, a problem that afflicts many states that allow elected officials to control the process.

  • Headlines: Maryland

    Extra pension payments cut by Senate committee to balance budget

    Maryland Reporter | by Len Lazarick | March 10, 2014

    The Maryland Senate Budget Committee voted Friday to take $500 million over the next five years from extra payments into the state pension system to balance the budget this year and for the next four.

  • Headlines: West Virginia

    Senate Budget Uses $125 Million from Rainy Day Fund

    West Virginia Public Broadcasting | by Ashton Marra | March 7, 2014

    The West Virginia Senate's budget pulls more money from the Rainy Day Fund to pay for increases in Medicaid.

  • Headlines: Arkansas

    Lawmakers tackle surplus spending, state budget

    Arkansas News | by John Lyon | March 7, 2014

    A legislative panel on Thursday endorsed a plan to spend nearly $22 million of the state's projected $125 million budget surplus, settling on a handful of the more than $90 million in projects that legislators and Gov. Mike Beebe had proposed.

  • Headlines: New Jersey

    'Retired' school chief teaches NJ pension a $1.7 million lesson

    New Jersey Watchdog | by Mark Lagerkvist | March 7, 2014

    The question is whether the New Jersey public retirement system - facing a $52 billion deficit - can afford to pay big pensions to retirees who are still working in high-paying public jobs.

  • Headlines: Kentucky

    Bill would let some agencies leave Kentucky Retirement Systems

    The Courier-Journal | by Mike Wynn | March 7, 2014

    A GOP lawmaker has filed legislation that would allow quasi-governmental agencies to withdraw from Kentucky's public pension system if they agree to pay off their retirement liabilities.

  • Headlines: Iowa

    Iowa House and Senate agree on $6.97 billion state budget for coming year

    The Des Moines Register | by William Petroski | March 6, 2014

    Republicans and Democrats settled on a $6.97 billion budget for the 2015 fiscal year, which begins July 1, 2014. Such a compromise is not at all typical in the divided Legislature, and could allow lawmakers to adjourn ahead of schedule this year.

  • Headlines: Nebraska

    $8.8B budget includes boost in property tax credits, funds to ease prison overcrowding

    The Omaha World-Herald | by Martha Stoddard | March 6, 2014

    This year's package includes a $25 million boost in property tax credits, as well as money for water projects, prison overcrowding, parks maintenance, job training, developmental disability services and pediatric cancer research.

  • Headlines: Rhode Island

    Rhode Island's Winding Road to Serious Pension Reform

    Governing | by Charles Chieppo | March 6, 2014

    Under the settlement, individuals who retired before June 30, 2012, would get a one-time 2 percent COLA. Going forward, COLAs would be awarded every fourth year (instead of every fifth under the original legislation) until state pensions are 80 percent funded.

  • Headlines: Washington

    House OKs supplemental budget; Senate negotiations next

    The Seattle Times | March 5, 2014

    The measure makes adjustments to the $33.6 billion, two-year state operating budget approved by the Legislature last year.

  • Headlines: Michigan

    House passes supplemental budget bill stripped of regional transit funding

    The Lansing State Journal | by Kathleen Gray | March 5, 2014

    Republicans in the House said their version of the bill was a more fiscally responsible supplemental budget.

  • Headlines: Illinois

    Chicago credit rating takes major hit

    The Chicago Tribune | by Hal Dardick | March 5, 2014

    Chicago's financial standing took a hit Tuesday when a major bond rating agency once again downgraded the city's credit worthiness because of a huge government worker pension shortfall and the overall amount of money it owes.

  • Headlines: North Carolina

    Art Pope rejects UNC system's budget proposal

    The Times-News | March 5, 2014

    Art Pope, the state budget director, has kicked the UNC system's budget proposal back to the Board of Governors for a rewrite, saying it "simply is not realistic."

  • Headlines: South Dakota, New Hampshire , Maine , Georgia

    Four states maneuver on Medicaid expansion

    Washington Post - GovBeat | by Reid Wilson | March 5, 2014

    Faced with the prospect of tens of millions, if not hundreds of millions, in federal funding, states are racing to find politically palatable ways to expand Medicaid.

  • Headlines: Florida

    Weatherford's base shows up to give him boost before pension battle

    The Miami Herald | by Michael van Sickler | March 4, 2014

    Pushing pension reform has been no easy task for Florida House Speaker Will Weatherford in the last two years, yet Weatherford persists, listing it at the top of his legislative agenda for this year's session, which begins Tuesday.

  • Headlines: Michigan

    Detroit reaches settlement over controversial debt deal

    USA Today | by Nathan Bomey and Brent Snavely | March 4, 2014

    The city of Detroit revealed a proposed settlement with two banks late Monday to pay off a controversial debt deal called swaps, which helped plunge Detroit into bankruptcy.

  • Headlines: Louisiana

    Lawmakers look to lock down health care funding in state budget | by Julia O'Donoghue | March 4, 2014

    The Louisiana State Legislature will once again consider legislation to limit their own ability to move around money in the state budget this year, a move that critics say say will tie lawmakers hands to deal with revenue shortfalls in the future.

  • Headlines: Illinois

    Civic Federation Releases Plan to Balance State Budget

    NBC Chicago | by Mark W. Anderson | March 4, 2014

    The plan relies on a mix of new taxes, spending cuts and completely paying down Illinois' $5.4 billion backlog of bills. The five-year plan also calls for building a "rainy day" fund and restoring municipalities' full share of revenue generated by taxes.

  • Headlines: Minnesota

    Dump the 'inflation bias' in state budget forecasts

    Minneapolis Star Tribune | by William C. Melton | March 3, 2014

    The $2.6 billion number cited for the surplus in the planning estimates for the next biennium is far too optimistic — and the distortion is probably going to get worse in the future.

  • Headlines: Nebraska

    Property taxes, state parks eyed in Neb. budget | March 3, 2014

    The Legislature's Appropriations Committee is expected to finish its work this week on changes to the state budget.

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