Monthly Archives: January 2009

Forbes Article, Gilt-Edged Pensions – How much are they really worth?

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January 31, 2009
Forbes Article, Gilt-Edged Pensions – How much are they really worth?

Forbes came out with an article last week about the lucky stiff retiring on a public sector pension. The article tells the story of the stiff retiring four years ago at age 42 with a $65,000 per year pension. The pension is indexed for life, that is guaranteed to increase every year. Forbes places...
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Out of Town for one week in Mexico.

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January 26, 2009

I will be out of the office for one week in Mexico. Can Hear is an organization operated by Martin Heinrich. It provides hearing aids for poor chiildren in Latin America. We are in Mexico City fitting hearing aids on 45 children in the barrio of Iztalapan in Mexico City. The trip is going...
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Who will bail out your pension? Pension reform needed.

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January 20, 2009
Who will bail out your pension? Pension reform needed.

Most taxpayers are funding as much into public sector pensions as they provide into their own! There is the serious possibility of social upheaval that will result from the unfairness of these public sector plans because we have a two-tier system. One tier is for the public sector employee and the other is for...
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Public Sector Pension Reform Urgent

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January 19, 2009
Public Sector Pension Reform Urgent

A recent report from one of Ireland’s most influential business The Irish Business and Employers Confederation (IBEC)has called for immediate reform of public sector pensions. Pension Reforms Urgent All public sector pension plans, either in Ireland or Canada, work the same way. They are based on final salary. They are not true pensions but...
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St John NB Pension Problems

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January 16, 2009
St John NB Pension Problems

St John has been dealing with some issues in its city employee pension plan. Taxpayers are concerned that despite increasing tax rates the quality of services provided from the city are falling. One of the areas of city spending that requires constant increases is the city pension. As a result of some investigations by...
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Public Sector Reform Will Be Tough

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January 13, 2009
Public Sector Reform Will Be Tough

The people, not the public sector, are sovereign – Independent of Ireland At a time when all Canadians are feeling the effects of our current economic situation governments seem reluctant to contribute to our economic recovery. It is not unrealistic to expect that cutbacks, layoffs and salary reductions should be shared by the public...
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Pension Storms All Around Us

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January 9, 2009
Pension Storms All Around Us

Sadly pensions have become top news in many newspapers, government offices and coffee shops. The discussions are around the recent meltdown in value of these plans and the potential implications this crisis has for retirees. The talk is mainly of defined benefit pensions. Those are pensions that guarantee the retiree a continued stream of...
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The Challenges of Restructuring the Costs of the Public Sector

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January 4, 2009

Public Pensions have toppled and society needs to reassemble pensions for employees in the public sector. The next largest cost associated with government is the cost of benefits. Costs of running government pensions and benefits plans are no longer sustainable. The problems that have been created as a result of trying to sustain an...
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Welcome to 2009 – Many Challenges to Come

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January 1, 2009
Welcome to 2009 – Many Challenges to Come

The past year provided a gut-wrenching sequence of events that will have extreme consequences for 2009. Leo Kolivakis in his Pension Pulse provided and excellent recap of 2008. He also highlights some of the potential implications of last year’s events for pensions in this coming year. One of the first challenges of the year...
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