TREND. Pension Survey. See 5 Other States Pension Issues.

This week:

• Hawaii grapples with a $12 B pension shortfall
• Republicans in Oregon want pension reforms, Democrats may not allow hearings. Reforms include:
  • increased contribution rates
  • change benefit calculations by adjusting the time period to the last 5 years and capping the top salary for benefit calculations
• Michigan Gov. wants to move new teacher hires to 401Ks
• In Illinois, Chicago’s pension reforms to require new hires to contribute more received legislative approval but are likely to be vetoed
  • The IL Governor wants “real pension reform”
• California CALPERS lowers its rate of return from 7.5 to 7%