Pensions in the time of a pandemic

By Larry Sand
Willfully blind to the reality of the fiscal impact of Covid-19, the teachers union is demanding billions from the already beleaguered American taxpayer. Long after the coronavirus fades into history, there will be many lingering effects. And high on that list very well may be the toll on public employee pensions and the beleaguered taxpayers...

TAGS: 401K, defined benefit, EdChoice, Larry Sand, National Education Association, teachers union

If you don’t give city employees a pension, what happens?

By Ed Mendel
San Diegans voted five years ago this month to switch all new city hires, except police, from pensions to 401(k)-style individual investment plans, becoming one of the first big cities to take the plunge. Jacksonville, Fla., took a bigger step last April, switching all new employees including police and firefighters to 401(k)-style plans. Last week,...

TAGS: 401K, CalPERS, CalSTRS, pensions

Teacher Union Pension Flim-flam

By Larry Sand
The public employee pension problem isn’t new, but a teacher union leader’s defense of it has sunk to new depths. According to the Federal Reserve, public employee pensions in aggregate nationally are in serious trouble. Currently totaling $5.8 trillion, they are underfunded by $1.7 trillion. While all these pensions are draining public resources, Don Boyd, director...

TAGS: 401K, American Federation of Teachers, Andrew Biggs, Friedman Foundation, ghost teachers, Jason Richwine, Larry Sand, pension tsunami, Randi Weingarten, release time, school choice, teachers union

When Union Bosses Become Employers

By Larry Sand
Sanctimonious labor leaders treat their employees very differently than their members. While tales of union hypocrisy are as common as instances of Donald Trump sticking his Ferragamos in his mouth, there is one facet of union two-facedness that is under-reported – the role of union as employer. As mentioned in my post a couple of...

TAGS: 401K, defined benefit pension, Evan Grossman, Jerry Jordan, Larry Sand, National Education Association, pension tsunami, Philadelphia Federation of Teachers, seniority, teachers union, tenure

Saving Pensions Will Require Unions To Face Reality

By Edward Ring
“Not surprisingly, within moments of news of Detroit’s bankruptcy, pension scare mongers took to their pedestals to place all the blame on pensions. California, Los Angeles, and other governments would surely follow Detroit’s footsteps in short order, they cried. It’s simply not true, like most of the claims made by the anti-pension soldiers who have...

TAGS: 401K, AFSCME, defined benefit, defined contribution, Detroit bankruptcy, Public sector pensions, public sector unions