GASB ISSUES TWO EXPOSURE DRAFTS ON PENSION ACCOUNTING The Governmental Accounting Standards Board (GASB) of the US has issued two Exposure Drafts (ED) proposing improvements to financial reporting of pensions by state and local governments. The documents propose amendments to existing pension standards to improve how the costs and obligations associated with the pensions that [...]
Archive for the ‘Pensions’ Category
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Public service pension plan posts surplus
Posted by admin on July 10th, 2011
Public service pension plan posts surplus Once mired in debt, the pension plan for Nova Scotia government workers is now fully funded, according to a new report.Figures for the fiscal year ending March 31, 2011, show the plan now has a $10.6-million surplus, its latest annual report says.As late as December 2009, the fund had [...]
EDITORIAL: Taxpayers subsidize pension debacle
Posted by admin on July 10th, 2011
EDITORIAL: Taxpayers subsidize pension debacle Last Thursday, 50 city employees suddenly retired because Fresno’s pension system was making an adjustment in retirement payouts under a very lucrative program funded by the taxpayers. These retirements probably would have gone unnoticed if they hadn’t included the police chief, fire chief and city clerk. Read more on The [...]
Magdalene pension claim supported by ‘ample evidence’
Posted by admin on July 6th, 2011
Magdalene pension claim supported by ‘ample evidence’ THERE IS already “ample evidence” of the State’s involvement in the Magdalene laundries for these women to at least receive pensions for the years of unpaid work they carried out, a meeting of the Irish Women Survivors Support Network in London heard at the weekend. Read more on [...]
Hermosa Beach singled out for pension costs
Posted by admin on July 1st, 2011
Hermosa Beach singled out for pension costs The City of Hermosa Beach was one of five municipalities in Los Angeles County singled out for a cautionary analysis of its high pension obligations by the county’s Civil Grand Jury. Read more on Easy Reader
Atlanta City Council OKs pension overhaul. Now comes the budget
Posted by admin on July 1st, 2011
Atlanta City Council OKs pension overhaul. Now comes the budget After months of sleep-inducing meetings, public fights and twisted arms, the Atlanta City Council last night unanimously approved an overhaul of City Hall employees’ ballooning pension plans. The move makes Atlanta one of the first major cities in the U.S. to tackle the issue — [...]
