Pensions
Pensions are a critical aspect of financial security for public sector employees, managed by local and state government agencies to ensure long-term retirement benefits. Effective pension management involves balancing the needs of current and future retirees with the fiscal sustainability of the pension funds. This directory provides articles on pensions and related topics like Fiscal Responsibility, which examines the broader financial practices that ensure governments can meet their long-term obligations, including pension liabilities.
Pennsylvania would be the first to transition all public school teachers and state employee pension funds to hybrid pension plans.
Historically high outcome public pensions can bankrupt cities like Dallas and Houston. Wayne Winegarden explains the pros of defined contribution plans.
Pension reform legislation before Texas state legislators continues to fuel disagreements between Houston and Dallas leaders and public safety employees.
Proposition B, a ballot initiative in San Diego to be voted on June 5, would give most new municipal employees a 401k defined contribution plan rather than the existing defined benefit pension plan.
Naugatuck, CT, has agreed to provide an early retirement program to the police department in exchange for the ability to provide a 401k-type pension plan for new police officers.
Municipalities in Virginia may soon be given the option to mandate that all teachers and local employees contribute five percent of their pay to the state’s pension system.
A combination of retirements and reorganization will save the city of Sheboygan, WI, hundreds of thousands of dollars if the plan succeeds.
The local police union in Thomaston, CT, has agreed to a plan that will place all new police officers on a defined contribution plan and will eliminate retiree health care insurance. The plan is estimated to save millions of dollars in coming years.
Staring at bankruptcy and a significant reduction in retiree benefits, police and firefighters in Central Falls, RI, recently agreed to significant pension benefit cuts.
A recent column in the Washington Post by David Crane, an economic adviser to former California governor Arnold Schwarzenegger, suggests a “race to the top” for pension reform solutions.
Governor Jerry Brown will soon ask California residents to vote on pension reform that he believes will bring the state back from the brink.
MOST POPULAR
- 7 Habits of a highly effective city clerk
- Trump calls for stronger protections for cops in Peace Officers Memorial Day proclamation
- Grant funding for age-friendly communities: Nurturing inclusivity and well-being
- Pa. township approves tax credit for fire, EMS personnel
- GreenKey police body camera audio analysis