Tag: Employees’ Retirement System of Rhode Island (ERSRI)
Evidence from Rhode Island says “yes.” The Center for Retirement Research just published a brief on how state public sector workers respond to a cut in their future pension benefits, using wonderful data obtained from the state of Rhode Island. The results show that benefit cuts encourage government workers to leave their jobs, but that…
The brief’s key findings are: Financially troubled state and local pensions may need to cut benefits for current workers, but such cuts could also induce some workers to leave. To assess this human resource impact, the analysis looks at a 2005 reform in Rhode Island that reduced benefits for some current workers. The results show…
