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Revisiting and replenishing rainy day funds Governing Share    
Rainy day funds are back in the news. After their near depletion during the Great Recession, many states have begun replenishing them. It seems like a no-brainer; yet some economists are questioning whether this is the right time in the economic cycle to be squirreling money away. More  New Jersey unfunded pension liabilities widen to $47.2 billion Bloomberg Share
New Jersey's public pension deficit swelled 13 percent to $47.2 billion in fiscal 2012 as the state continued to make partial contributions to its retirement plans. The system had about 64.5 percent of assets needed to cover promises to current and future retirees as of July 1, 2012, compared with 67.5 percent a year earlier, when the gap stood at $41.7 billion, according to data posted on the state Treasury Department's website. More PRODUCT SHOWCASE
Grand Rapids, Mich., to consider $100 million health care bond for retired workers MLive.com Share
The city plans to sell up to $100 million in bonds to help fund its health care liability for retired workers. Grand Rapids City Commission on Tuesday, March 5, will consider authorizing publication of a notice of intent to issue bonds, subject to public review over the next 45 days. The matter was on this morning's agenda for the commission's fiscal committee, which referred it to the Committee of the Whole for discussion later this morning. More
3 Idaho cities drop out of self-insurance pool Idaho Mountain Express Share
A self-insurance pool formed by 39 Idaho cities last March to keep insurance costs down is now losing members, despite the risk of paying penalties that match the cost of monthly premiums over the past year. More PRODUCT SHOWCASE
City taps insurance fund to pay $2.3 million to victims in David Bisard crash The Indianapolis Star Share
City leaders will tap an insurance fund to pay $2.3 million in settlements to two surviving victims of the 2010 crash involving Indianapolis police officer David Bisard, a mayoral aide told The Indianapolis Star. That decision will allow the city to pay $1.35 million to Kurt Weekly and $975,000 to Mary Mills in a week or two — sooner than it could if officials waited for the City-County Council to consider a pending proposal authorizing the city to borrow to cover those settlements. More
West Virginia Senate to vote on limiting landowner liability The Associated Press via WVVA-TV Share
The West Virginia Senate is scheduled to vote on a bill that would ensure that property owners face very limited liability from trespassers on their land. In general, common law states that property owners cannot be sued by trespassers unless they recklessly or intentionally injure the trespasser. More San Juan Capistrano, Calif., to implement 'quiet zones' at 5 rail crossings The Orange County Register Share
Starting March 15, San Juan Capistrano residents may not have to put up with as much train noise, as the City Council recently voted to implement "quiet zones" at five public crossings. Despite some concerns about the city's liability in case of an injury or a death at one of the quieted crossings, the council voted 3-0 to execute a "notice of establishment" of quiet zones at crossings on Del Obispo Street, La Zanja Street, Verdugo Street, Oso Road and Avenida Aeropuerto. More |
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