pensions
Report details fast-growing CEO tax loophole giving multi-millionaires huge retirement advantages
A new report shows that a group that least needs to shelter its retirement savings — multi-million-dollar CEOs — enjoys far more generous tax benefits than the average working stiff. And that assumes the working stiff even makes enough to set some money aside in a 401(k). The report, published Thursday by the Institute for […]
Just after bonus controversy, Ohio teachers pension system to increase them again
Ohio’s retired teachers might have gotten only one 3% cost-of-living increase since 2017, but the staff that’s managing their pension funds is requesting a 31% increase in its already big annual bonuses. The same staff last year was awarded $10 million in bonuses and then reported $5.3 billion in losses — 77% higher than the […]
Teachers’ pension system touts clean audit. Retirees unimpressed
Correction: The State Teachers Retirement System of Ohio manages about $90 billion in assets. An earlier version of this story gave an incorrect amount. It has been updated. The State Teachers Retirement System of Ohio has been flagging the results of a special audit conducted in response to complaints from some teachers and retirees. But […]
GOP leaders target ‘woke’ investments through state pension funds
Republicans in state capitals across the country are targeting an investing concept known as environmental, social and corporate governance criteria, or ESG for short. Describing these investment criteria as “woke” and “misguided activism,” GOP officials argue that by taking these factors into account when making investment choices, financial institutions are putting ideology ahead of making […]
Collapsing union pension plans win long-sought help from rescue package
WASHINGTON — Tucked in the Democrats’ massive coronavirus stimulus package was a long-awaited solution for a financial ticking time bomb: private pension funds on the brink of collapse, jeopardizing the retirement plans of millions of union members. The $1.9 trillion pandemic relief measure included $86 billion that will be used for grants to help shore […]