Page 829 - Pensions News Today

Comprehensive program and come october 1st, nobody is going to repel it, richard. its the law. and if it ever passed the senate, and it wont, then the president would veto it and so what are they doing? they are focusing on an anti-obama issue that has nothing to do with health care. >> health and human -- human and -- health and human services secretary, if i can say that properly, kathleen sebelius was in houston yesterday and trying to educate the youth on obama care. a part of that, we talk ...

So the cost has absolutely nothing to do with what colleges and universities are charging. martha: a lot of reasons for that as you and i well know. well get into that more later. gregg: we know it well unfortunately. a new showdown over detroits request for bankruptcy protection. unions and retirees are challenging the math suggesting that the citys financial position is not as bad as claimed. detroits emergency manager saying that the city has at least $18 billion in liabilities and doesnt h...

Economic stability. they pay nothing for 6.throe billion in annual health care and workers may little for pensions that have taxpayers on the hock. >> the new york city has 10,000 police officers retired who are under 40 and collecting pension and they will collect them for the rest of their lives. >> contracts for all city workers expired three years ago. and the next mayor will be under pressure to win concessions. >> the unions tonight want to negotiate with mayor blom bloom. he is a tough bu...

Who are under 40 and collecting pensions, and they will technically collect those pensions for the rest of their lives. >> reporter: contracts for almost all 300,000 city workers expired at least three years ago. the next mayor will be under pressure to win concessions. >> the unions have tried to wait it out. they dont want to negotiate with mayor bloomberg because hes a tough businessman. >> reporter: many new yorkers remember 1975 when the city almost went broke after president ford said no t...

Lee miller has more. >> in little more than three months new yorkers will elect a new mayor. warning from mayor michael bloomberg to his successor reverberate around the city. bloomberg says pension and healthcare cost for city workers contributed to the detroit financial ruin threaten new yorks economic stability. most new york city employees and retirees pay nothing for $6.3 billion in annual health insurance. workers pay little for pensions that have taxpayers on the hook for $8 billion this ...

Neil: the pension benefit guarantee corporation. when pensions shut don they take over, usually at pennies on the dollar. we tried to reach out to the treasury department today. they gave us a statement. quote: while the bankruptcy at delphi required painful sacrificeses from all stakeholders, this administration and the prior administration made the right choice to support the american auto industry and the actions taken brought needed stability to auto industry and helped save more than a jobs...

>> reporter: many rein 1975 when the city almost went broke after president ford said no to a bailout. since then a state financial control board oversees the city budget. the editor of the chief, a newspaper for city workers calls bloombergs warning about a detroit style bankruptcy fear mongering. >> i think its partly a scare tactic and partly about spin looking to deflect any blame for him basically abdicating his responsibility as mayor for timely negotiating with unions. >> new york mayor b...

Terror attacks of 2001 as well as those who served in the aftermath. in the years since the attack, people across the country have marked the day by participating in community service projects. so this year will be no different. a wide number of organizations will put together what will be one of the largest days of charitable service in u.s. history. an urgent warning now for american cities raising new alarms about our financial future. theres growing fear big cities such as new york could g...

Bloomberg to his successor is reverberating around new york. >> avoiding the hard choices is how detroit went bankrupt. >> reporter: bloomberg says pension and health care costs for city workers that contributed to detroits financial ruin threaten new yorks economic stability. most new york city employees and retirees pay nothing for $6.3 billion in annual health insurance. workers also pay little for pensions that have taxpayers on the hook for $8 billion this year. >> new york city has right n...

Almost went broke after president ford be said no to a bailout. since then, a state financial control board oversees the city budget. the editor of the chief, a newspaper for city workers, calls bloombergs warning about a detroit-stale bankruptcy fear mongering. >> i think its partly a scare tactic and its partly about spin, of looking to deflect blame for his basically having abdicated his responsibility as mayor to negotiate timely new contracts with the unions. >> reporter: according to mayor...