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Public pension funds play supporting roles in state elections
truePublic pension plans are being hit with a mixture of ethics complaints, ballot initiatives and election contests, with candidates using pension reform as an appeal to voters.
Rhode Island Treasurer Gina Raimondo wins gubernatorial primary
trueRhode Island General Treasurer Gina Raimondo, the architect of changes in the state’s public pension system, won the Democratic primary for governor with 42.2% of the vote.
S.C. Treasurer Loftis re-elected; Rep. Cantor loses primary
trueCurtis M. Loftis Jr. was re-elected as state treasurer of South Carolina on Tuesday, while House Majority Leader, and Wall Street ally, Eric Cantor, R-Va., lost his Republican primary the same night.
Pace of pension reform ebbs after 49 states change laws
trueAs the flood of reform efforts aimed at public pension funds becomes a trickle, the main concern is whether the newfound fiscal discipline will hold.
Argentina loses bid for full-court rehearing of bond appeal
trueArgentina lost its bid for a rehearing of a federal appeals court ruling against it in litigation over $1.5 billion in the nation's defaulted bonds.
Cincinnati voters soundly reject pension measure
trueCincinnati voters rejected a ballot initiative Tuesday that would have created an amendment to the city's charter changing certain retirement benefits of the Cincinnati Retirement System.
Cincinnati voters consider confusing pension measure
trueA ballot initiative in Cincinnati's citywide elections on Tuesday proposes an amendment to the city's charter that could create a new defined contribution plan as well as require the Cincinnati Retirement System to reach a 100% funded status in 10 years.
Stringer, Burnett compete for NYC comptroller post
trueThe race for New York City comptroller, a job that includes managing the $145 billion New York City Retirement Systems, is a study in contrasts as well as similarities between Republican John Burnett and Democrat Scott Stringer.
L.A. pension reform referendum fails to make ballot
trueAn effort to hold a referendum on replacing Los Angeles' three city pension plans with a defined contribution plan for new employees, proposed by former Mayor Richard Riordan, was temporarily put on hold.
Retirement savings tax incentives in danger post election
trueThe odds of reduced tax incentives for retirement savings and further regulatory action on retirement issues increased significantly with the Nov. 6 federal election results.
Second terms not as kind to equity markets
trueThe first four years of President Barack Obama's administration were very bullish for the stock market. The S&P 500 rose 66% from January 2009 through October 2012, using monthly averages of daily closing data. That compares very favorably to the 50% average of the first terms of the past 11 ...
Dow drops below 13,000 as attention shifts to fiscal cliff, European debt crises
trueU.S. stocks plunged Wednesday, with the Dow Jones industrial average closing below the 13,000 mark for the first time since Aug. 2, as investor focus turned to the budget debate and Europe's debt crisis following President Barack Obama's re-election.
Incumbents, amendments generally get nod in pension-related races
trueIncumbent candidates and parties largely won state and local elections that could potentially have the greatest impact on pension plans and reform, while most pension-related constitutional amendments passed.
Stocks swoon as attention turns to fiscal cliff, European debt crises
trueU.S. stocks fell Wednesday as investors’ focus returned to the U.S. tax debate and Europe’s debt crisis following the re-election of President Barack Obama.
Tax increases could put pressure on dividend stocks
trueBill Gross has suggested investors buy municipal bonds and sell high-dividend-paying stocks. Such stocks might be at risk now that the likelihood of the 2001-2003 tax cuts expiring has increased, given President Obama's re-election. Should the tax cuts expire, dividends will be taxed as ordinary ...