Pension Guarantees for State Govt. Retirees?

A recent survey by the Center for Retirement Research at Boston College finds retirement benefits to state employees and retirees may not be as certain as some would think/argue.  According to the researchers, many details can be legally challenged in favor of the state/employer since employment contract terms are often used generally as opposed to being clearly defined. 

More info can be found here:  http://www.benefitspro.com/2012/08/15/states-have-plenty-of-room-to-legally-alter-pensio?ref=hp

State Pension Controversy

Pension underfunding and bleak projections have caused state governments – Illinois comes to mind due to its geographic proximity to us – to discuss potential benefit reductions for future, and even current, retirees.  In fact, states like Rhode Island, Louisiana and Florida have recently decided to implement significant changes.  It’s no surprise that lawsuits have arisen in response. 

More info can be found here:  http://www.benefitspro.com/2012/08/22/what-actually-constitutes-a-pension-obligation?t=strategies

Don't Hold Your Breath

We’ve seen the markets ticking higher, with six consecutive weeks of gains. Yesterday, the S&P 500 reached its highest level since April and was within 10% of the all-time high of Oct. 9, 2007. Even so, with much of Europe on holiday and trading volume being low, there is a sense that investors are holding their breath, waiting for Europe to get back from vacation, for the next policy announcement, for the next big headline to move the markets.