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Recent Headlines from Across the Country

Browse news and headlines from Florida and around the country.

Why Pensions’ Last Defense Is Eroding
Long-term returns for U.S. public pensions are expected to drop to the lowest levels ever recorded, portending deeper pain for states and cities as a $1 trillion funding gap widens. . . . more
Miami budget crunchers warn city spending is getting out of whack
Miami (5/25/16) -- Fully recovered from a financial crisis during the late 2000s, Miami commissioners are finally restoring the pay and benefits they unilaterally stripped from their employees in order to balance their books — and giving budget crunchers heartburn in the process. . . . more
Palm Beach council adopts pension overhaul for police, firefighters (5/12/16)
Palm Beach (5/12/16) - The Town Council voted Tuesday to boost pension benefits for public safety employees with the aim of improving recruitment and retention in the fire-rescue and police departments, where deep pension cuts enacted in 2012 triggered an exodus of workers. . . . more
Reports on Jacksonville's future pension costs have dramatically different findings
There’s no question that Jacksonville’s enormous pension debt sits like an elephant on the city’s budget, but projections vary greatly for how big that burden will be over the next 30 years — even based on the city’s own studies since January. . . . more
LBK Firefighters Light Up
The town’s previous contract with its firefighters union was a model for Florida cities. It capped pension costs. The new contract, if approved, regresses on pensions and raises . . . more
Not OK with 401K
SEBRING — Three years after a contentious decision to change the retirement plans for firefighters and police officers, the Sebring City Council on Tuesday signaled a change in course. The City Council voted 3-1 to seek information regarding how much it would cost the city for police officers and firefighters to join the Florida Public Pension Association, which offers a traditional pension plan. . . . more
Florida pension system looks strong — for now
Florida's $143 billion pension fund has been on a “circular roller coaster ride” this year, which could result in the first year of a negative return since the fund plummeted 19 percent in 2009. . . . more
Where you live may determine if you can get a retirement plan: About 40% of U.S. workers lack saving-plan access.
Americans who want to retire may face very unequal paths to get there depending on where they live. Workplace retirement plans, such as 401(k) accounts, have become a critical retirement savings tool for most Americans. Yet about 40 percent of full-time private sector workers in the U.S. lack access to an employer-based retirement saving plan. . . . more
Why the 401(k) system is a blight on the face of the American republic
The baby boomers are in the process of retiring, and a great many of them are going to be utterly screwed if we don't do something about it. . . . more
Your 401(k) is no replacement for a pension
New data shows that in 2014, distributions from 401(k)s and similar accounts (including Individual Retirement Accounts (IRA), which are mostly rolled over from 401(k)s) came to less than $1,000 per year per person aged 65 and older. . . . more
DC Beats DB – For the Most Part
Which provides a better retirement income outcome, defined benefit or defined contribution? A new analysis provides results that might surprise some. . . . more
Town working hard to erode our Fire/EMS team
Death and taxes are life’s certainties. The two conjoin when it comes to maintaining a top-tier Fire and EMS Department on Longboat Key. . . . more
Financial Security for Future Retirees: Florida Scores 3 out of 10
Florida like every state faces challenges to the financial security of future retirees. The state’s 3 out of 10 score on the Financial Security Scorecard means that the next generation has a much lower potential for financial security in retirement than counterparts in many other states. . . . more
Appeals court still supports Sunshine Law ruling in city/pension negotiations case
A Florida appeals court has again rejected arguments that Circuit Judge Waddell Wallace erred when he ruled in favor of the Sunshine Law lawsuit filed by Times-Union Editor Frank Denton. Wallace in his 2013 ruling found the city and the Police and Fire Pension Fund had “confidential, non-public collective-bargaining negotiations” where public talks were required in violation of the state’s open-records law. . . . more
Police and firefighters urge pension fund trustees to reject proposed reform deal
Police and firefighters urge pension fund trustees to reject proposed reform deal . . . more
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