Tag: Local Defined Benefit Plans
The brief’s key findings are: Since the financial crisis, 17 states have reduced, suspended, or eliminated cost-of-living-adjustments (COLAs) for public employee pensions. This response was surprising as current employees and retirees tend to be legally shielded from benefit cuts. But the COLA cuts have largely been upheld in the courts under the rationale that –…
The brief’s key findings are: Prior to the financial crisis, most public pension plans were on a path to full funding. But the crisis has pushed the aggregate funding ratio below 80 percent. Without action, in five years the funding ratio could be as low as 59 percent or as high as 75 percent. T…
