Cutting Detroit Retirees’ Pensions Violates State Constitution

Last 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 …

The Takeaway: Workers Would Trade Pay for Better Retirement Benefits

Would 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.

Will Your Health Care Coverage Measure Up to Your Congressperson's?

Patricia Barry has a piece on AARP Bulletin addressing the statement President Obama made when signing the health care bill last week, about how Americans should get the same health benefits that members of Congress currently have. He said, “Why can’t we enjoy the same benefits that they get?” Well, it looks like health care reform may do just that: Members of Congress currently get their health insurance through the Federal Employees Health Benefits Program, which offers a menu of …

News To Know: Drink Yourself Healthy

New research has shown unexpected health benefits in consuming coffee and red wine.