Pennsylvania’s reform efforts mirror the national trend of modernizing public and private retirement systems with 401(k)-style defined-contribution plans.
Last week, the Governmental Accounting Standards Board, or GASB, finalized new rules to make pension funding more transparent. These new rules require governments to use more appropriate discount rates than most public pension plans have been using. Pension plans with sufficient funds set aside to pay future benefits can continue to discount future liabilities by current investment...
Occupational licensing requirements present one of the steepest barriers to low-income Illinoisans starting careers in beauty services. Illinois requires anyone seeking to become a barber, cosmetologist, nail technician or hair braider to obtain a state license, essentially a permission slip to work. Unlike 45 other states, Illinois offers only one pathway to licensure for each...