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By Ganon Evans, includes “… The COVID-19 pandemic is a perfect example of how an uncertain future could derail healthy pension payments. Methods to prepare for these uncertainties in future pension plans include stress testing at the state level and cost-sharing plans between employers and employees.”
By Eric Boehm, includes “The proposed plan for redrawing Illinois' congressional districts is a total mess. State lawmakers were tasked with the once-per-decade redistricting, and the Democrats who control the state government produced a map that is both wildly partisan and wildly gerrymandered.”
By Jared Walczak, includes “Inflation is often called a hidden tax, but in many states it yields a far more literal tax increase as tax brackets fail to adjust for changes in consumer purchasing power. … When tax brackets, the standard deduction, or personal exemptions are not inflation-adjusted, they lose value due to inflation, raising tax burdens in real terms.”
By Megan Henney, includes “A new analysis published Tuesday by the Tax Foundation shows that 15 states fail to account for inflation when drawing the brackets for taxes on wage and income, while another 18 states do not index personal exemption tax to inflation. Altogether, 22 states have at least ‘one major unindexed provision,’ which could mean higher taxes for individuals amid a recent inflation surge.”
By Beth LeBlanc (The Detroit News), includes “The federal government warned Michigan in May 2020 to avoid adopting overly lenient qualifications for pandemic unemployment assistance as it carried out the federal jobless aid program. … The state didn't send letters asking people to recertify under different qualifications until late June — more than a year after the Department of Labor initially warned about the loose criteria.”
Editorial, includes “City Hall loathes an eye in the sky. … How close is Lightfoot to naming a permanent replacement for the outgoing IG? Ferguson gave Chicago a window into that pressing matter during his WBEZ appearance Wednesday. ‘That’s an enormous question, and it’s shocking that I can’t give you an answer,’ Ferguson said, adding that City Hall has been aware since July that he wasn’t going to stay on as IG.”
By Kathryn White, includes “Today, NASBO released a new issue brief examining states’ processes for allocating Coronavirus State Fiscal Recovery Funds, authorized by the American Rescue Plan Act of 2021, and planned uses of these funds. This analysis is based strictly on what states and territories reported to the U.S. Treasury Department in their Recovery Plan Performance Reports, which were due on August 31, 2021.”
By Heather Gillers, includes “… The problem is that this fund pays out more in pension checks every year than its current workers and employers contribute. That gap helps explain why it is billions short of what it needs to cover its future retirement promises. ‘The bucket is leaking,’ he said. The solution for Mr. Majeed—as well as other pension managers across the country—is to take on more investment risk."
By Jen Sidorova, includes “For investment managers of public pension plans, the pressure to achieve high returns has increased in recent years. … Private equity investing, which public pensions hope will bring higher returns, has become more common in portfolios. However, this strategy comes with a higher level of investment volatility, higher investment fees, and a noted lack of transparency.”
By Celeste Fiehler, includes “Last week, the satirical website The Babylon Bee published an article proclaiming, ‘kids form union and donate millions to Newsom so they won’t have to get vaccinated.’ As with any good parody, this piece centered on truth: the most effective voices in California’s education system are teachers unions, because they have a lot of money.”