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City Council votes to set up trust fund for municipal employees The Lowell Sun Share    
Lowell, Mass.'s City Council recently voted unanimously to set up a trust fund to pay for post-employment benefits for its municipal employees. The Council's 9-0 vote to accept a state statute to set up the trust fund will allow the city to start putting aside money to pay for retiree health care, the biggest potential budget buster. More
Retirees may not need city health insurance Chicago Tribune Share
The Retiree Health Benefits Commission recently delivered recommendations to Mayor Emanuel regarding future benefits for certain classes of former city employees. The most promising proposal — and surely its most controversial — would end the city's comprehensive retiree health-insurance plan, which primarily covers retirees under age 65. More Advocates push idea of requiring gun insurance The Associated Press via KTIV-TV Share
As lawmakers cast around for ways to curb gun-related violence, some are hoping the insurance market might offer incentives. A bill filed recently in Massachusetts would require gun owners to purchase liability insurance in the event that a firearm is used to injure. More
Hawaii to pay $100 million for unfunded liabilities Hawaii News Now Share
Hawaii Gov. Neil Abercrombie recently unveiled a plan to spend $100 million dollars next year to pay down future obligations to state workers and retirees. The problem is, the state's unfunded liabilities for state workers pensions and health care now stands at about $20 billion and is projected to top $37 billion over the next 12 years. More Experts: Earthquake insurance covers fracking Ellwood City Ledger Share
If you want your homeowner's insurance to also cover fracking-related incidents, you're going to have to buy earthquake insurance, experts say. "If you want to be covered in the event of an earthquake or earth movement, the homeowner has to buy either a (rider) to their existing standard homeowner's policy or a freestanding earthquake policy," said Mike Barry, vice president of media relations at the Insurance Information Institute, a national nonprofit institute funded by the insurance industry. More
Residents flooded by line break want city aid Corvallis Gazette-Times Share
As many as 30 households might have been affected by the Harding neighborhood water main break, and the city of Corvallis, Ore., is working with its insurance carrier on how to deal with claims from residents who said their repair bills exceeded $5,000. More Report: Portland's public safety pension liability has risen 16 percent in 2 years The Oregonian Share
Portland's public safety pension liability has risen 16 percent in two years to $2.9 billion, according to an actuarial report presented recently. The figure represents the present value of future benefits already earned by members of the Portland Fire and Police Disability and Retirement Fund. More
Midwest City Council in Oklahoma votes to close public tornado shelters KWTV-TV Share
With the start of tornado season just a few months away, Midwest City, Okla., leaders are saying no to public tornado shelters. You will no longer be allowed to take cover at the Reed Center or the city's other two shelter locations. More |
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