Tag Archives: Pensions

Senate Approves $104 Million Raise For State Employees

Senate Approves $104 Million Raise For State Employees

The Senate has approved their version of a pay package for state employees, giving them 7% in raises in the coming biennium – 4% in 2013 and 3% in 2014 – totaling $104 million: Bismarck, ND – North Dakota Senators have adopted a negotiation between House and Senate leaders regarding state employee pay and retirement

Democrat Senator Wants To Know Why The Minimum Wage Isn't $22 Per Hour

“If we started in 1960, and we said that, as productivity goes up — that is, as workers are producing more — then the minimum wage is going to go up the same,” said Senator Elizabeth Warren to University of Massachusetts professor economics Arindrajit Dube in a hearing of the Senate Committee on Health, Education,

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With Pension Fund Only 49% Funded, City Of Minot Considering Defined Contribution Plans

All over the country, defined benefits pension plans are crumbling. Public sector plans for state and municipal workers are under water. Federal pension plans are under water. Even Social Security, which is little more than a sort of universal, defined-benefits pension plan is under water. And the fundamental problem with each of those plans is

North Dakota House Votes To Give Public Workers Defined Contribution Pension Option

Under HB1452, introduced by Rep. Jim Kasper, would give new state hires the option of choosing a defined contribution pension plan instead of the existing (and fiscally in jeopardy) defined benefits pension. SAB readers will remember that earlier this week there was a lengthy debate on the floor of the state Senate, in advance of

ND Senate Bails Out Public Worker Pensions, But Authorizes Study For Move To Defined Contribution Plans

In his speech carrying SB2059 to the floor, Senator Dick Dever noted an alarming fact that I’ve written about before here on SAB: North Dakota’s public employee pension system, PERS, has fallen to being only 67.4% funded. In 2011 the fund was 70.5% funded, and not so many years ago the fund was 104% funded.

Rahm Emanuel Illustrates Why Public Pension Funds Ought To Be Eliminated

America has a pension crisis. Pension funds for teachers and public workers around the nation are in trouble, falling well short of funding levels needed to pay out benefits into the future. Nationally pensions are facing an estimated $4.6 trillion in shortfalls, with the average pension fund only 41% funded, according to State Budget Solutions.

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