Pension ‘fix’ has many problems, but the Pension Clause isn’t one

By Jacob Huebert
In December 2013, Gov. Pat Quinn signed a pension “reform” bill with many serious flaws. For example, it: barely makes a dent in the state’s unfunded pension liability; guarantees pension funding at the expense of taxpayers and all other government services; creates a fake 401(k) plan; doesn’t means test cost-of-living adjustments, or COLAs; still allows state workers to retire much earlier...

TAGS: pension guarantee, pensions

Detroit ruling reveals pensions not protected in bankruptcy

By Paul Kersey
As lawmakers in Springfield prepare to vote on a controversial pension reform plan, a federal bankruptcy court judge in Detroit issued a ruling that could have major consequences for government employees throughout the country. Dealing with numerous objections to the nation’s largest municipal bankruptcy, Judge Steven Rhodes ruled that pension debts were not given “extraordinary...

TAGS: Detroit, Michigan, pension guarantee, ruling