Over the course of several decades, more than one dozen local retirement systems have successfully petitioned the Legislature to establish some or all of their pension plans in state law. Commonly codified plan elements include: contribution rates, benefit levels, and board composition. By securing their provisions in state law, this select group of state-governed systems has erected a major obstacle to community-driven reform and effectively cemented a series of unsustainable practices.
The debate questions Americans want answered
It’s just a shame the media in control of the debate will be unlikely to focus on the most vital issues. The media have begun their predictable lead-up to the first presidential debate slated for June 27 with the usual question — “Do debates really matter?” — before answering it themselves. As Politico’s Jack Shafer...