Breaking News: Alaska Ironworkers Withdraw MPRA Application

The withdrawal letter just popped up on the MPRA website.

Excerpts for the latest 5500 filing:

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New Jersey Tops Another List

S&P Global Ratings did a comparison of the per person costs of pensions, OPEB, and other debt among the states and New Jersey topped the list – by a lot.

Now the worse news.

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Cautionary Tale for New Jersey

Regina M. Egea was the Chief of Staff to New Jersey Governor Chris Christie from December, 2013 through in April, 2016 and is now president of Garden State Initiative (GSI) which she describes as:

an independent, nonprofit organization, we take seriously our commitment to examine public policy options and offer alternative, intellectually honest solutions. Our goal at GSI is to offer timely, useful and, yes, even at times provocative alternatives to the standard “tax more and spend more” mantra that plagues our state.

Their first initiative: criticizing Connecticut.

Some excerpts and then the takeaway:

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NJ Gubernatorial Debate on Pensions – Part 2

In the first debate New Jersey’s next governor claimed to have a ‘very, very credible plan’ to fully fund the state’s public pensions. At tonight’s second, and last, debate he was asked what it is:

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MPRA Update – 2016

Now that 5500 filing season is over and most of the 2016 forms are searchable on the DOL website let’s update the status of union plans that have applied for benefit suspensions under MPRA with links to their latest 5500 filing and a focus on the worst funded plan with a reported funded ratio of 2.99% (yes that is the funded ratio and not the RPA interest rate).

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Central States Update

This is the plan that will take down the Pension Benefit Guaranty Corporation and eventually the entire US pension system. So how much trouble is the Central States Pension Fund in after they were denied MPRA relief last year? You get a pretty good idea from their recently filed 5500 form for 2016.

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Breaking News: Another Union Plan Withdraws

The Southwest Ohio Regional Council of Carpenters Pension Plan out of Austintown, OH was the fifteenth (and last) multiemployer plan to file for benefit suspensions under MPRA. Today a letter popped up on the MPRA website withdrawing that application.

Also this week they submitted their 5500 filing for 2016 updating their funded status:

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