Pension contributions

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  1. Moody's: Highway bill pension changes could mean $51 billion less in contributions

    trueSponsors of defined benefit pension plans will be allowed to defer $51 billion in pension contributions under legislation approved July 15 by the House as part of the bill extending the Highway Trust Fund, according to an analysis by Moody's Investors Service.

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  1. Pension smoothing part of Highway Trust Fund deal

    trueThe House Ways and Means Committee late Tuesday proposed pension smoothing as part of a funding package for the Highway Trust Fund, which is projected to run out of money within weeks.

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  2. Pennsylvania governor refuses to sign state budget without pension cuts

    truePennsylvania Gov. Tom Corbett refused to sign the $29.1 billion state budget plan for the 2014-2015 fiscal year passed Monday by the General Assembly because it did not address pension costs.

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  3. Gov. Christie vetoes full pension payment in state budget

    trueNew Jersey Gov. Chris Christie signed a $32.5 billion state budget for the fiscal year that started Tuesday, making good on comments that he would veto new taxes and would withhold most payments to the $76.8 billion New Jersey Pension Fund so he could balance the budget.

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  4. Aon to contribute $385 million to its worldwide pension funds in 2014

    trueAon PLC said it plans to contribute $385 million to its worldwide pension funds in 2014, down significantly from $523 million in 2013 and $638 million the year before that.

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  5. Hearing on proposed sale of Philadelphia Gas Works postponed

    truePhiladelphia City Council did not schedule hearings on the proposed sale of Philadelphia Gas Works to UIL Holdings Corp.

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  6. N.J. Senate Democrats' budget plan includes full pension payment

    trueNew Jersey Senate Democrats proposed a rival budget plan to Gov. Chris Christie's that would make a full pension payment while raising taxes on corporations and the wealthy.

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  7. Illinois governor signs Chicago pension reform bill

    trueIllinois Gov. Pat Quinn signed a pension reform bill Monday aimed at improving the funding of Chicago's pension funds for laborers and municipal workers.

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  8. Michigan auto companies contribute to Detroit pension 'grand bargain'

    trueThree auto companies pledged a total of $26 million on Monday as part of the so-called “grand bargain” — monetary pledges from outside parties — that will keep pension cuts to a minimum as Detroit moves out of Chapter 9 bankruptcy protection.

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  9. Mercer: FTSE 350 companies' aggregate pension deficit rises

    trueThe aggregate defined benefit pension fund accounting deficit for FTSE 350 companies increased 2% in May from the end of April to £113 billion ($189.8 billion).

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  10. New Jersey unions file lawsuit over reduced pension contributions

    trueThree New Jersey state troopers unions filed a lawsuit Thursday against New Jersey Gov. Chris Christie, Treasurer Andrew Sidamon-Eristoff and the state Legislature, charging that state reductions in pension contributions violate the law.

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  11. Little funded status movement in May — 3 reports

    trueThe funded status of corporate defined benefit plans was relatively flat in May with rising liabilities offsetting asset returns, according to three monthly funded status reports.

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  12. Michigan Legislature approves $195 million Detroit contribution

    trueThe state of Michigan will pony up $195 million toward Detroit's effort to get out of Chapter 9 bankruptcy protection by October.

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  13. New Tennessee law requires full pension contributions by local governments

    trueTennessee Gov. Bill Haslam signed legislation on Wednesday that will require some local governments in the state to increase contributions to their pension funds.

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