Detroit Fiscal Analyst Sounds the Alarm Over Deficit

Carvila, Elizabeth
January 2005
Bond Buyer;1/12/2005, Vol. 351 Issue 32048, p30
Trade Publication
The article reports that the Detroit City Council and Mayor Kwame Kilpatrick's administration has planned to meet to discuss the expected budget shortfall, as warned by the council's fiscal analyst. The to meet has been exacerbated by the council's failure to approve up to US$1.8 billion of pension obligation certificates to help shore up the city's finances. Under the pension certificate plan, the city would shift the risk of higher costs related to its unfunded pension obligations to the market by paying current low interest rates on the debt.


Related Articles

  • SUPER BATTLE AHEAD. BAILEY, MICHAEL // BRW;11/28/2013, Vol. 35 Issue 45, p77 

    The article discusses the political battle between the self-managed superannuation fund sector and the government in Australia and the regulations toward SMSF implemented by the Australian Tax Office and the Australian Securities and Investments Commission.

  • ASFA calls for removal of $450 SG threshold. Kennedy, Chris // Super Review;Dec2010/Jan2011, Vol. 24 Issue 11, p6 

    The article reports that the Association of Superannuation Funds of Australia (ASFA) has urged the Australian government to remove the 450 dollars threshold on earnings for superannuation guarantee (SG) contributions.

  • Factors in funding a pension plan.  // Business Insurance;5/16/94, Vol. 28 Issue 20, p35 

    Discusses pension plan funding. Effects of several factors on a company's eventual cost of providing pension benefits and on its profitability and financial strength; Lower than expected turnover; Higher investment earnings on funds in the pension plan; Higher employee salaries; Higher average...

  • Budget will prompt new pension products. Egan, Liam // Money Management;6/1/2006, Vol. 20 Issue 19, p3 

    The article reports that the implementation of the Federal Budget superannuation initiatives in Australia will cause intense rivalry between fund managers to develop pension products that attract and retain clients who are more than 60 years old. John Trowbridge, chair of the Superannuation Tax...

  • Govt seeks ways to prevent erosion of occupational schemes. McMillan, Paul // Money Marketing;6/8/2006, p5 

    The article reports that the government in Great Britain has dismissed concerns that the introduction of pension personal accounts will reduce savings in occupational schemes. James Purnell, the pension reform minister, announced that he will be working with employers to avoid this scenario. A...

  • Euro court slams inadequate PPF. Tryphonides, Andrea // Money Marketing;7/20/2006, p7 

    The article reports that the European Court of Justice (ECJ) has said the Pension Protection Fund (PPF) is inadequate and should provide full protection to those who lose some or all of their occupational pensions in Great Britain. According to advocate general Juliane Kokott of ECJ, the...

  • Saving grace. Mukherjee, Nivedita // India Today;5/18/2009, p26 

    The article emphasizes the need for the Indian government and the Pension Fund Regulatory and Development Authority (PFRDA) to enhance confidence amongst New Pension Scheme (NPS) investors. Under the scheme, Indians can open an account at one of the 22 points of presence (PoP) and the choice of...

  • Pension funding and management affects healthcare organizations. Sagner, James S. // hfm (Healthcare Financial Management);Jul94, Vol. 48 Issue 7, p78 

    Discusses the impact of pension plan funding and asset management on healthcare organizations. Underfunding of private pension plans; Proposals to ensure the survival of the private pension plan system; Management of pension plan assets; Popularity of guaranteed investment contracts among...

  • Battling "The Perfect Storm."  // Employee Benefit News;Jun2004, Vol. 18 Issue 7, p54 

    Reports on issues in the Pension Benefit Guaranty Corporation (PBGC) bill in the U.S. Factors that affect the pension plan funding liabilities; Efforts of the government in addressing problems on the law.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics