• Headlines: Alaska

    Budget debate: Alaskans may need to brace for some cuts now, big cuts later or taxes

    The Anchorage Daily News | by Lisa Demer | November 12, 2013

    Political leaders have been warning of the impending fiscal crisis for many years but high oil prices have masked declining oil revenues.

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  • Headlines

    Stepping Up With a Plan to Save American Cities

    The New York Times | by Mary Williams Walsh | November 12, 2013

    Mayors and governors face a troublesome issue: the law says they have to keep their pension plans intact, but the cost is growing every year, and they are running out of ways to raise the money.

  • Headlines: Illinois

    In face of Chicago downgrade, IL legislature looks to more pension borrowing

    State Budget Solutions | by Cory Eucalitto | November 11, 2013

    With Fitch Ratings downgrading the City of Chicago's bond ratings, the state legisilature managing to only pass a largely ineffective bill for only the Chicago Park District's pension plan and a new report exploring the depth of the state's budget mess, things look bleak in Illinois.

  • Headlines: Louisiana

    Audit: Louisiana paid almost $2 million in health benefits for dead people

    Washington Post | by Reid Wilson | November 11, 2013

    Louisiana’s Department of Health and Hospitals has paid out almost $2 million in Medicaid benefits for low-income residents who couldn’t use the cash — because they were dead.

  • Headlines: Illinois

    Citing economy, pension worries, Fitch downgrades Chicago | November 11, 2013

    "The city has been unsuccessful in its attempts to negotiate a solution with labor unions and lobby the state legislature, which ultimately controls the benefit formula," Fitch said in a statement.

  • Headlines: Minnesota

    Lawmakers study costs of changes to state's pension plans

    The Pioneer Press | by MaryJo Webster | November 11, 2013

    Would it be financially feasible for the state of Minnesota to scrap its existing guaranteed retirement benefit and instead offer a 401(k)-like plan for public employees is the question vexing lawmakers on Minnesota's Legislative Commission on Pensions and Retirement.

  • Headlines: California, Michigan, Washington

    Rising prices outdoors might be revenue negative

    The San Francisco Chronicle | by Tom Stienstra | November 11, 2013

    California's budget problems for parks, fish and wildlife aren't unusual. Washington, Michigan and many other states are facing similar struggles.

  • Headlines: North Dakota

    Budgeting process far from straightforward | by Kyle Potte | November 11, 2013

    The North Dakota state budget is not just one big bucket the Legislature fills with tax dollars. It's more of a network of more than 75 buckets - each a different size, each that gets its own attention and funding.

  • Headlines: Illinois

    State pension crisis fix is pushed back again

    The Chicago Tribune | by Ray Long and Hal Dardick | November 8, 2013

    Illinois lawmakers leave without reaching deal to curb $100 billion debt and without a clear time frame for reaching an agreement to rein in the costs of the nation's worst-funded retirement system.

  • Headlines: California

    California unions to San Jose mayor: Drop your pension initiative

    The Sacramento Bee | by Jon Ortiz | November 8, 2013

    he measure would, among other things, change California's constitution so that state and local government employers could legally lower employees' pension terms prospectively.

  • Headlines: Massachusetts

    State braces for $65M revenue loss as drop in income-tax rate looms

    Boston Business Journal | by Craig Douglas | November 8, 2013

    The state's recent surge in income tax collections could prove a double-edged sword for Gov. Deval Patrick and Massachusetts lawmakers as they scramble to plug various holes in the current year's budget.

  • Headlines: Illinois

    No state pension deal on horizon

    The Southern Illinoisan | by Sara Burnett | November 7, 2013

    Illinois lawmakers Wednesday advanced tax breaks worth millions of dollars for corporations, but they were set to end their fall session without taking action on an issue that could be a roadblock for those deals: the state's $100 billion pension shortfall.

  • Headlines: Florida

    Senators question if school budget will meet state's needs

    The Sarasota Herald-Tribune | by Lloyd Dunkelberger | November 7, 2013

    The Florida Department of Education's budget proposal, which takes into account 6,500 new students next fall, would boost per-student funding by $126.77.

  • Headlines: Connecticut

    Getting Connecticut's books in order requires half a billion in state bonds

    Washington Post | by Reid Wilson | November 7, 2013

    Imagine recording expenses as money is actually spent, and recording revenue as money actually comes in. Hardly sounds revolutionary, right? Well in state government, that’s almost never how it happens.

  • Headlines: Louisiana

    Louisiana Medicaid program has $50M budget gap | November 6, 2013

    Louisiana's Medicaid program has a $50 million budget deficit that state health officials are asking lawmakers to close with more money, rather than cuts.

  • Headlines: California

    California lawmakers accepting raises as budget picture brightens

    The Sacramento Bee | by Christopher Cadelago | November 6, 2013

    California lawmakers are getting their first pay raise in six years next month, and unlike previous increases, only a handful are turning down the larger paycheck.

  • Headlines: Illinois, Kentucky, North Dakota, Vermont, Oregon

    Illinois Evading Pension Fix Leads State Gaps Wider: Muni Credit

    Businessweek | by Darrell Preston and Brian Chappatta | November 6, 2013

    For states and municipalities nationwide, the swelling obligations are leaving officials with the quandary of where to allocate tax dollars -- to services such as education or toward retiree benefits

  • Headlines: New York

    New York Is Investigating Advisers to Pension Funds

    The New York Times | by Mary Williams Walsh | November 6, 2013

    "The recent financial difficulties in Detroit serve as a stern wake-up call, demonstrating why strong oversight of New York's public pension funds is so important," Benjamin M. Lawsky, the New York financial services superintendent, said.

  • Headlines: Delaware

    Delaware state budget hearings begin this week

    Delaware State News | by Jen Rini | November 5, 2013

    OMB Director Ann Visalli said the agencies can request up to 1 percent above their base budget, but various costs for pension increases and health care are built in.

  • Headlines: Alaska

    State Wrestles With $12 Billion Pension Shortfall

    Alaska Public Radio | by Alexandra Gutierrez | November 5, 2013

    "The unfunded liability of the retirement system is astronomical, and it does have - and will continue to have - a significant effect on the state of Alaska going forward," says Kris Erchinger of the Alaska Retirement Management Board.

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