Tag: insolvency

NFL Players Pension Red Zone – $4 Billion

Mary Pat Campbell
NFL Players Pension Red Zone – $4 Billion

Excerpt:

It’s Super Bowl time which, for some of us, means  that the new 5500 for the Bert Bell/Pete Rozelle NFL Player Retirement Plan (EIN 13-6043636) is out and we get a better idea of how much Tom Brady really has in common with a Cleveland Iron Worker.

Interestingly enough, the NFL plan meets the objective (less than 40% funding and less than 40% active) criteria under both HR 397 and the Grassley-Alexander proposal from the prior legislative session and would qualify for a bailout were it to declare itself a red zone plan.

Author: John Bury

Publication Date: 25 January 2021

Publication Site: burypensions

Financial State of the Cities 2021

Mary Pat Campbell

Link: https://www.truthinaccounting.org/news/detail/financial-state-of-the-cities-2021

Excerpt:

Truth in Accounting has released its fifth annual Financial State of the Cities report. This comprehensive analysis surveys the fiscal health of the 75 most populated US cities prior to the coronavirus pandemic. The report found that 62 cities did not have enough money to pay all of their bills. Most of the cities were ill-prepared for any crisis, much less one as serious as what we are currently facing. Total debt among the 75 cities amounted to $333.5 billion at the end of the fiscal year 2019, which will only worsen as the cities face varying and unpredictable effects from the global pandemic.

PDF of full report: https://www.truthinaccounting.org/library/doclib/Financial-State-of-the-Cities-2021.pdf#new_tab

Publication Date: 26 January 2021

Publication Site: Truth in Accounting