Archive: Louise Sheiner
![lightbulb above a piggy bank](https://crr.bc.edu/wp-content/uploads/2023/04/Lightbulb-above-a-piggy-bank-1536x846.jpeg)
State and local government pension plans are important economic institutions in the United States. They hold nearly $5 trillion in assets; their annual payments to beneficiaries are equal to about 1.5 percent of national GDP; and over 11 million beneficiaries rely on these payments to support themselves in retirement. In recent years, attention has focused…