Employer contributions are also being reduced, while COLAs will be increased.
The group says the $80 billion pension fund refuses to turn over public documents it needs to conduct an audit.
Critics say it will more than double the city’s annual pension costs to $30 million.
Proposal would require public employees to contribute more, work longer, and earn less.
Better governance, flexibility, and clever investment strategies and solutions can prepare pension funds for the future, plan leaders say.
NCPERS study finds public retirement systems derive 71% of revenue from investment returns.
Workers would take on up to 78% of the increase in liabilities and 88% of the contribution increases.
Research from Wisconsin Policy Forum dissects the disparities between the state’s three largest pensions and lessons to be learned from its best.
Bill proposes $76 million infusion from state, as well as sweeping contribution and COLA changes.
Legislation mandating stiff rules on state educators is scaled back after consistent opposition.
Asset Management Culture
Rhode Island city had been sued for suspending police, firefighter COLAs.
Cuts are expected to save pension an estimated $3.44 billion.
High court reluctantly rejects challenge to 10-year suspension of COLAs.