Group Calls on Governors to Freeze Public-Employee Pensions

more+
less-

ALEXANDRIA, Va., Feb. 21 (LID) – A nonpartisan state budget think tank has called on the nation’s governors to freeze defined-benefit pensions for all public employees, citing unfunded pension liabilities of about $4 trillion.

State Budget Solutions (SBS), in an open letter to governors, urged the states’ chief executives to follow General Motors Co. and freeze employee pension levels and implement 401 (k)-type plans for employees, just as the Detroit automaker announced last week for some 26,000 U.S. workers.

From Law & Industry Daily

http://legalnewsgroup.com/2012/02/21/group-calls-on-governors-to-freeze-pensions/5870

LOADING PDF: If there are any problems, click here to download the file.

Published In: Finance & Banking Updates, Labor & Employment Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Law & Industry Daily, Law & Industry Daily | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »