PoliticsLast month, we heard the news about the City of Detroit filing for Chapter 9 bankruptcy protection in federal court, becoming the largest city to ever do so. The city’s financial crisis threatens the retirement security of more than 30,000 active and retired employees, and almost immediately, lawsuits were filed in state court to protect Detroit’s two pension funds during the city’s restructuring. Michigan Attorney General Bill Schulte has said that, under the state constitution, pension obligations to state and …
Bulletin Today | News RoundupsWould you trade some of your pay for better retirement and health care benefits? A new survey from HR-consulting firm Towers Watson found more than half of U.S. workers would.
Bulletin Today | News RoundupsRetirement age for public sector workers—government employees, teachers, firefighters, trash collectors—is becoming a topic of fierce friction nationwide. And the lines between hospitals, insurance companies and doctors are blurring, as the health care law awaits Supreme Court consideration and the 2014 start date of the individual insurance mandate.