{"id":20461,"date":"2010-06-20T01:00:52","date_gmt":"2010-06-20T01:00:52","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/in_budget_crisis_states_take_aim_at_pension_costs\/"},"modified":"2010-06-20T01:00:52","modified_gmt":"2010-06-20T01:00:52","slug":"in_budget_crisis_states_take_aim_at_pension_costs","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=20461","title":{"rendered":"In Budget Crisis, States Take Aim at Pension Costs"},"content":{"rendered":"<p>Many states are acknowledging this year that they have promised pensions they cannot afford and are cutting once-sacrosanct benefits, to appease taxpayers and attack budget deficits.<\/p>\n<p>Illinois raised its retirement age to 67, the highest of any state, and capped public pensions at $106,800 a year. Arizona, New York, Missouri and Mississippi will make people work more years to earn pensions. Virginia is requiring employees to pay into the state pension fund for the first time. New Jersey will not give anyone pension credit unless they work at least 32 hours a week.<\/p>\n<p>\u201cWe can\u2019t afford to deny reality or delay action any longer,\u201d\u009d said Gov. Pat Quinn of Illinois, adding that his state\u2019s pension cuts, enacted in March, will save some $300 million in the first year alone.<\/p>\n<p><a href=\"http:\/\/www.nytimes.com\/2010\/06\/20\/business\/20pension.html\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Many states are acknowledging this year that they have promised pensions they cannot afford and are cutting once-sacrosanct benefits, to appease taxpayers and attack budget deficits. Illinois raised its retirement age to 67, the highest of any state, and capped<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=20461\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,149,662,593,151,619],"tags":[],"class_list":["post-20461","post","type-post","status-publish","format-standard","hentry","category-economics-politics","category-economy","category-pensions","category-personal-finance","category-politics-in-general","category-state-government"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/20461","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20461"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/20461\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}