The Philadelphia Pension Board has voted to sell stocks that are tied to the gun industry, if companies don’t adhere to a new set of principles, designed to reduce gun violence.
The State Employees’ Retirement System notified Sandusky he will no longer receive his $59,000 annual pension following his conviction and sentence in the child sexual abuse scandal.
Jerry Sandusky’s lawyer says that Sandusky will fight to keep his $59,000 annual pension.
“If we don’t start addressing pensions right now, in 2016-17, $4.3 billion of the budget goes to pension. What does that do to funding everywhere else that we need to have the funding?” Corbett said.
Eyewitness News has learned that Jerry Sandusky may be able to retain his $59,000 per year state pension for the rest of his life, even after being convicted on 45 criminal counts for sexually abusing ten boys.
The majority leader of the Pennsylvania Senate has announced that he will introduce a bill that will make major changes to the pension system for future state and public school workers.
Verizon has been granted an injunction to limit picketing by striking union workers in New Jersey.
Now making its way through bankruptcy court, the Philadelphia Orchestra’s management is finding out the price tag for withdrawing from the pension plan for musicians is more than twice the initial figures.
Senate president Steve Sweeney is ready to proceed with a package he hammered out with Governor Chris Christie which would require state workers to pay more for health insurance and increase contributions to their pension fund.
Republican Gov. Chris Christie and Democratic Senate President Stephen Sweeney have reached a deal to change retiree pension and health benefits by requiring public workers to pay more for both.
Union leaders in New Jersey are planning a solidarity rally for public workers in Wisconsin.
The mayor issued his call for City Council to eliminate DROP last August. Since then there have been no hearings, with Council members instead waiting to receive a report from consultants that they hired to evaluate the cost of the program.
Some bad news for New Jersey from Wall Street, as Standard and Poors lowered the state’s bond rating yesterday one level from “AA” to “AA-”. That may not sound like much, but it’ll make it more difficult, not to mention more expensive for the state to borrow money.
Councilman Frank DiCicco says he regrets enrolling in the controversial pension plan, and he has introduced a bill which allows any city worker to opt out of DROP.
Governor Rendell is expected to sign a bill on its way from the state House that would address a huge bump in costs for Pennsylvania’s two big employee retirement funds.