The Official Who Investigates Suspicious Deaths in Your Town May Be a Doctor — Or Not

Link: https://khn.org/news/article/coroners-medical-examiners-doctor-or-not-death-investigations/

Excerpt:

When a group of physicians gathered in Washington state for an annual meeting, one made a startling revelation: If you ever want to know when, how — and where — to kill someone, I can tell you, and you’ll get away with it. No problem.

That’s because the expertise and availability of coroners, who determine cause of death in criminal and unexplained cases, vary widely across Washington, as they do in many other parts of the country.

….

Each state has its own laws governing the investigation of violent and unexplained deaths, and most delegate the task to cities, counties, and regional districts. The job can be held by an elected coroner as young as 18 or a highly trained physician appointed as medical examiner. Some death investigators work for elected sheriffs who try to avoid controversy or owe political favors. Others own funeral homes and direct bodies to their private businesses.

Overall, it’s a disjointed and chronically underfunded system — with more than 2,000 offices across the country that determine the cause of death in about 600,000 cases a year.

…..

Belcher’s crusade succeeded in changing some aspects of Washington’s coroner system when state lawmakers approved a new law last year, but efforts to reform death investigations in California, Georgia, and Illinois have recently failed.

Rulings on causes of death are often not cut-and-dried and can be controversial, especially in police-involved deaths such as the 2020 killing of George Floyd. In that case, Minnesota’s Hennepin County medical examiner ruled Floyd’s death a homicide but indicated a heart condition and the presence of fentanyl in his system may have been factors. Pathologists hired by Floyd’s family said he died from lack of oxygen when a police officer kneeled on his neck and back.

….

In 2009, the National Research Council recommended that states replace coroners with medical examiners, describing a system “in need of significant improvement.”

Massachusetts was the first state to replace coroners with medical examiners statewide in 1877. As of 2019, 22 states and the District of Columbia had only medical examiners, 14 states had only coroners, and 14 had a mix, according to the Centers for Disease Control and Prevention.

Author(s): Samantha Young

Publication Date: 20 Dec 2022

Publication Site: Kaiser Health News

Market Rout Sends State and City Pension Funds to Worst Year Since 2009

Link: https://www.wsj.com/articles/market-rout-sends-state-and-city-pension-funds-to-worst-year-since-2009-11660009928?st=sooa4lma1xq9ff4&reflink=desktopwebshare_permalink&fbclid=IwAR0CC7k-F2J_IblLDjSODS1iDZuRxzuGk1-4Bgwtc_AQ0d4AajP00toEQH8

Graphic:

Excerpt:

Public pension plans lost a median 7.9% in the year ended June 30, according to Wilshire Trust Universe Comparison Service data released Tuesday, their worst annual performance since 2009 and a fresh sign of the chronic financial stress facing governments and retirement savers. 

Much of the damage occurred in April, May and June, when global markets came under intense pressure driven by concerns about inflationhigh stock valuations and a broad retreat from speculative investments including cryptocurrencies. Funds that manage the retirement savings of teachers, firefighters and police officers returned a median minus 8.9% for that three-month period, their worst quarterly performance since the early months of the global pandemic.

Author(s): Heather Gillers

Publication Date: 9 Aug 2022

Publication Site: WSJ

DID YOU KNOW NFL PLAYERS EARN A PENSION? (REPOST)

Link: https://protectpensions.org/2022/09/07/know-nfl-players-earn-pension-repost/

Excerpt:

In honor of the NFL season officially starting tomorrow, NPPC is re-sharing this blog originally posted on February 8, 2016, and written by Tyler Bond.

Last night the Denver Broncos won Super Bowl 50. For Denver’s starting quarterback Peyton Manning, this was almost certainly his last game before retirement. Once Manning enters retirement, there is one thing he can count on: his defined benefit pension.

NFL players participate in the Bert Bell/Pete Rozelle NFL Player Retirement Plan. NFL players are fully vested in the plan after three years on active roster or injured reserve status. The benefit amount is then based on the number of credited seasons played. In 2014 the average annual NFL player’s pension benefit was $43,000.

The NFL pension plan was funded at 55.9 percent in April 2014. This is a low funding ratio, but there’s a good reason for it. Following the lock-out in 2011 and the negotiation of a new collective bargaining agreement (CBA), the NFL Players’ Association fought for an increase in pension benefits for retired players. This took the plan down to a funded status of 48 percent in 2013, but the NFL has agreed to commit $620 million over ten years to reach full funding by 2021. The latest available data indicates the plan is funded at 89 percent as of 2018. 

Author(s): Tyler Bond, reposted by ARIEL MCCONNELL

Publication Date: 7 Sept 2022

Publication Site: National Public Pension Coalition

Billionaire Ken Griffin Sues IRS Over Leak Exposing Taxes Paid By 25 Richest Americans

Link: https://www.thewealthadvisor.com/article/billionaire-ken-griffin-sues-irs-over-leak-exposing-taxes-paid-25-richest-americans

Excerpt:

Hedge fund billionaire Ken Griffin, who founded and helms trading powerhouse Citadel, has sued the Internal Revenue Service and Treasury Department for alleged negligence in maintaining safeguards for confidential tax returns after a bombshell report last year cited a trove of IRS data in a series of articles detailing the incomes and taxes paid by some of the world’s richest people.

KEY FACTS

In a federal suit filed with the Southern District of Florida, Griffin alleged the IRS has “willfully and intentionally” failed to establish adequate safeguards to protect confidential tax return information after nonprofit news outlet ProPublica published an article citing the data in June 2021 and then followed up with several pieces, including some targeting Griffin’s political lobbying.

The suit, first reported by Wall Street Journal, claims the disclosure of Griffin’s tax return information to ProPublica was not “requested by the taxpayer,” and as a result entitles the billionaire to punitive damages totaling at least $1,000 per unlawful disclosure and attorneys’ fees, according to a section of the tax code.

It is a felony for a federal employee to leak a tax return or information about a tax return, but the source of the data remains unknown despite some lawmakers claiming there “is little doubt” the confidential information “came from inside the IRS;” the IRS and Justice Department have stated they are investigating the leak, but no formal charges have been filed.

Author(s): Jonathan Ponciano

Publication Date: 13 Dec 2022

Publication Site: The Wealth Advisor, Forbes

Inflation Cools to 7.1 Percent, but Still Has a Long Way To Fall

Link: https://reason.com/2022/12/13/inflation-cools-to-7-1-percent-but-still-has-a-long-way-to-fall/

Excerpt:

Inflation finally slowed to a near halt in November, possibly signaling a winding down of the prices crisis that has gripped American households this year.

Prices rose just 0.1 percent on average during November, the Department of Labor reported on Tuesday morning. The year-over-year inflation rate fell as well, to 7.1 percent for the 12 months ending in November. That’s the lowest annualized rate since December 2021, and is significantly lower than the 7.8 percent annualized rate reported a month ago.

This also marks the fifth consecutive month in which the annualized inflation rate has held steady or fallen, after peaking in July at an astounding 9.0 percent.

That trend suggests that the Federal Reserve has finally gotten a collar on rising prices. The central bank’s board is expected to hike interest rates for the seventh time this year when it meets on Wednesday. That means it will continue getting more expensive to obtain a mortgage or a car loan, and credit card interest rates will continue to rise—but also that savings accounts and other interest-based investment vehicles are paying larger returns.

Author(s): Eric Boehm

Publication Date: 13 Dec 2022

Publication Site: Reason

How Medicare Advantage Plans Dodged Auditors and Overcharged Taxpayers by Millions

Link: https://khn.org/news/article/medicare-advantage-auditors-overcharged-taxpayers/

Excerpt:

A review of 90 government audits, released exclusively to KHN in response to a Freedom of Information Act lawsuit, reveals that health insurers that issue Medicare Advantage plans have repeatedly tried to sidestep regulations requiring them to document medical conditions the government paid them to treat.

The audits, the most recent ones the agency has completed, sought to validate payments to Medicare Advantage health plans for 2011 through 2013.

As KHN reported late last month, auditors uncovered millions of dollars in improper payments — citing overcharges of more than $1,000 per patient a year on average — by nearly two dozen health plans.

Author(s): Fred Schulte and Holly K. Hacker

Publication Date: 13 Dec 2022

Publication Site: Kaiser Health News

Federal Reserve hikes rates again

Link: https://www.thecentersquare.com/national/federal-reserve-hikes-rates-again/article_da8ec844-7be2-11ed-9977-17d7d24d73fb.html

Excerpt:

The U.S. Federal Reserve announced a new rate increase of half a percentage point Wednesday in its ongoing effort to curb inflation.

The Fed raised the rate by 50 basis points, as expected, the seventh rate hike this year. This increase is smaller than the four previous 75 basis point increases but is still a notable increase, putting the range at 4.25%-4.5%.

“Recent indicators point to modest growth in spending and production. Job gains have been robust in recent months, and the unemployment rate has remained low,” the Fed said. “Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher food and energy prices, and broader price pressures.”

The Fed blamed the Russian war in Ukraine for the price hikes. That war delayed the supply chain and increased costs, but the price increases began long before that war, due in part to trillions of dollars in federal debt spending since the pandemic began.

Author(s): Casey Harper

Publication Date: 14 Dec 2022

Publication Site: The Center Square

NAHB Housing Sentiment and Present Conditions Crash to Covid-19 Lows

Link: https://mishtalk.com/economics/nahb-housing-sentiment-and-present-conditions-crash-to-covid-19-lows

Graphic:

Excerpt:

Please consider the NAHB/Wells Fargo Housing Market Index (HMI) for December 2022.

The NAHB/Wells Fargo Housing Market Index (HMI) is based on a monthly survey of NAHB members designed to take the pulse of the single-family housing market. The survey asks respondents to rate market conditions for the sale of new homes at the present time and in the next six months as well as the traffic of prospective buyers of new homes.

Bloomberg Econoday Consensus Outlook

Spiraling downward, the housing market index has missed Econoday’s consensus every month this year. November’s 33 was 3 points short of the consensus. December’s consensus is 34.

December’s 31 was also 3 points lower than consensus and 1 point lower than the entire consensus range of 32-35.

Well done! Perfection for 12 months is very difficult. 

Author(s): Mike Shedlock

Publication Date: 19 Dec 2022

Publication Site: Mish Talk

ILLINOIS PUBLIC PENSION DEBT GROWS TO $140B

Link: https://www.illinoispolicy.org/illinois-public-pension-debt-grows-to-140b/

Graphic:

Excerpt:

Illinois’ five statewide pensions system saw their debt increase by nearly $10 billion to a grand total of $140 billion in fiscal year 2022. Pensions will cost the state nearly $11 billion next year, but that’s still $4.4 billion too little.

Illinois’ state pension debt now stands at $139.7 billion, according to a new report from the Illinois General Assembly’s Commission on Government Forecasting and Accountability.

That is up $9.8 billion from 2021, when state pensions were benefitting from healthy investment returns. After markets cooled substantially, state pension debt in the fiscal year that ended July 1 continued to grow, increasing for the 11th time in 15 years.

Author(s): Bryce Hill

Publication Date: 14 Dec 2022

Publication Site: Illinois Policy Institute

2022 Insurance Regulation Report Card

Link: https://www.rstreet.org/2022/12/12/2022-insurance-regulation-report-card/

PDF link of report: https://www.rstreet.org/wp-content/uploads/2022/12/r-street-policy-study-no-272.pdf

Graphic:

Excerpt:

KEY POINTS

  1. The RSI Insurance Regulation Report Card analyzes and evaluates the effectiveness of state government regulation of property and casualty insurance and assigns a letter grade to all 50 states. The grade for each state was calculated by adding the weighted results from seven categories.
  2. The highest grades were for Kentucky and Arizona, both of which received an A+. At the other end of the spectrum, California and Alaska both scored an F.
  3. 20 states had a higher grade than they did in R Street’s 2020 edition of the Report Card, 23 maintained the same grade and seven had lower grades. This result is positive and means that insurance regulatory regimes have become more effective and efficient in the past two years.

Executive Summary
We are pleased to present the 10th edition of R Street’s Insurance Regulation Report Card, which analyzes and evaluates the effectiveness of U.S. insurance regulation of property and casualty insurance. The first iteration of this report was published in June 2012, and this 2022 edition largely follows the format of prior reports. It begins with a brief introduction on the current landscape of U.S. insurance regulation; reviews recent, relevant federal and state-based regulatory changes; presents a detailed evaluation of the effectiveness of each state’s regulation of insurance in seven key categories; and synthesizes those category evaluations by offering a “report card” grade for each state for analysis and comparison purposes.

This report draws on 2021 year-end statutory insurance financial statistics and the most recent datasets available for non-financial information. Sources include data and reports from the National Association of Insurance Commissioners (NAIC), S&P Global Market Intelligence, National Conference of State Legislatures, R Street analyses and others, all of which were accessed through Sept. 30, 2022.

In this report, we seek to shed light on the same three foundational issues we have focused on in past iterations of this report card:
• How free are consumers to choose the insurance products they want?
• How free are insurers to provide the insurance products consumers want?
• How effectively are states discharging their duties to monitor insurer solvency and foster competitive, private insurance markets?

Author(s): Jerry Theodorou

Publication Date: 12 Dec 2022

Publication Site: R Street