Pension reform needs discussion

Recently there was good news on the government efficiency front in this country. The glimmer of hope comes from Rhode Island, the smallest state in the nation and a state controlled by relatively liberal Democrats at the legislative level and a moderate governor who labels himself “Independent.” Politically, we’re not talking about Texas here. Nor […]

Taxpayers shouldn’t fund private pensions

Freedom New Mexico For years another potential multibillion fiscal catastrophe has been brewing, obscured by higher-profile storms created by taxpayer bailouts of Detroit and Wall Street and the looming crash of underfunded public employee pension plans. For the first time, taxpayers may become responsible for the nongovernmental pension liabilities of union collective bargaining contracts in […]

Pension paternalism may become reality

By Steve Chapman: Syndicated columnist Do you know you need to save more for retirement, but you just can’t make yourself do it? Relax. Soon, you may not have to make yourself do anything — you’ll save more in spite of yourself. It’s a new approach to financing retirement, and it’s as easy as falling […]

Unions bringing on pension crisis with demands

Freedom Newspapers When it comes to the mounting nationwide pension crisis, it’s best to follow the advice, “At first, do no harm.” Nationwide, unfunded public and private pension liabilities are at an unfathomable $800 billion. That’s the amount of benefits owed, beyond the funds available to pay them. USA Today reported last month that “taxpayers […]

Lawmakers shouldn’t sneak compensation

By Ned Cantwell: State columnist There he sits, does Bulldog Bill, glowering. Looking every bit like the mascot on the beer can. The governor is not a happy man. The Legislature has done him wrong. There is, however, just the tease of a wry smile as Gov. Bill Richardson awaits legislative bills requiring his signed […]

Privatizing pension agency would benefit taxpayers

Freedom Newspapers The Pension Benefit Guaranty Corp. took another step down the slippery slope last week, according to an Associated Press story. The federal agency announced it has assumed the pension assets and claims of Falcon Products Inc., a manufacturer of commercial furniture. The two plans taken over by the agency cover about 2,300 current […]

Pension system would benefit from competition

Freedom Newspapers A House labor subcommittee has taken the first steps toward reforming the way private companies handle pensions. The issue has come increasingly to the fore in the wake of defaults in the troubled airline industry. United Airlines is scheduled to default on about $10 billion in pension obligations, of which $6.6 billion is […]

United Airlines should face up to its mistakes

Freedom Newspapers One of the core foundations of the free market system is the idea that businesses should be able to fail. If a company makes poor choices, poor investments or offers poor services or products, it will not make money and will, ultimately, shut its doors. Like almost all airlines, United Airlines was hurt […]

The big league players need their pensions as well

Editorial O ver a thousand men who played big league baseball before 1980 won’t be getting any pension or medical benefits from former management, a federal judge ruled in a little-publicized hearing last month. Before 1980, a big leaguer who did not complete four years of service was not vested for pension or benefits. As […]

Fund requires help from those invovled

Danny Joe Lyle The Clovis News Journal recently reported the state of New Mexico Educational Retirement Board (ERB) fund is $2.3 billion short of what actuarial studies projected it would grow to over the past three years. That number is closer to $1.7 billion. The ERB portfolio has for many years held a strong commitment […]