Pensions

10/25/12 – Brown University Municipal Pension Panels

By Justin Katz | October 26, 2012 |

4:04 p.m. With my second fortunate parking experience in Providence this week, having found a parking meter that was already almost at 2 hours time, I’ve settled in for a rousing discussion of municipal pensions at Brown University’s Salomen Center, hosted by the Taubman Center for Public Policy. Continue reading on the Ocean State Current…

Things We Read Today (16), Friday

By Justin Katz | September 21, 2012 |

The narrative of the candidates; death panels and pension boards; the endgame of government debt; an enemies list. Continue reading on the Ocean State Current…

Things We Read Today (13), Tuesday

By Justin Katz | September 18, 2012 |

Days off from retirement in Cranston; the conspiracy of low interest rates; sympathy with the Satanic Verses; the gas mandate; and the weaponized media. Continue reading on the Ocean State Current…

The Risk of Investment Promises May Be Unhedgeable

By Justin Katz | August 29, 2012 |

Early in the summer, Rhode Island General Treasurer Gina Raimondo announced that the state had invested $900 million of its pension assets in hedge funds.  The decision was actually made in the middle of last year, in response to an asset liability study, treasury spokeswoman Joy Fox tells the Current.  At that point, the treasurer began…

Nationwide Unfunded Pension Liability Now up to $4.6 Trillion

By Justin Katz | July 18, 2012 |

About a month ago, I presented a comparison of estimates for the nation’s public-sector pension problem. While none of the results were encouraging, there was huge variation in the degree of frightfulness — the difference mainly being in the way in which they calculate liabilities. One of the economists, Andrew Biggs, of the American Enterprise…

A Decade of Moving Next Door

By Justin Katz | July 17, 2012 |

I’ve been following taxpayer migration data for years, but in a haphazard way. A new study that I’ve coauthored for the RI Center for Freedom & Prosperity finally gave me the opportunity to review all fifteen years of available data from the IRS. The picture — from the 2003 beginning of what can only be…

Warwick’s Pension Numbers Serve as National Example

By Marc Comtois | May 30, 2012 |

The local efforts by the Rhode Island Center for Freedom and Prosperity to shine a light on the pension mess have brought national attention: A locally published interview with a member of the national pension task force, assembled by the RI Center for Freedom & Prosperity, has caused a stir in Warwick, puzzling the Mayor,…

New York Pension Fund Rate of Return Disappoints: Is It Still Cooking the Books When the ACTUAL Rate of Return Drops?

By Monique Chartier | May 28, 2012 |

When General Treasurer Gina Raimondo led the way in edging down the projected rate of return for Rhode Island’s state pension fund from 8.25% to 7.5% (and tweaking life expectancy assumptions for the system), the President of the Cranston Firefighters Union, Paul Valletta, accused her of cooking the books to create a problem where none…

Undoing the Central Falls Settlement with Some Last Minute Legislation?

By Carroll Andrew Morse | May 14, 2012 |

Can’t talk about the bill, it’s still in committee… Can’t talk about the bill, it’s still in committee… Can’t talk about the bill, it’s still in committee… Why do you want to talk about that bill? Everything important about it was decided in committee.Justin Katz of the Ocean State Current (and Anchor Rising too) has…

Report: West Warwick Pension System Broke By 2017

By Monique Chartier | May 8, 2012 |

WPRI’s Matt Smith reports that at a special meeting held this evening, town leaders said if West Warwick continues on the same path as they are currently on, there will be no assets in the pension fund by 2017. Officials also said they believe the town is on the same track as the bankrupt City…

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