Tag: public employees
Abstract Social Security is designed to serve as the base of retirement support, to be supplemented by employer-sponsored plans. However, approximately one-quarter of state and local government employees – currently, around 5 million workers annually – are not covered by Social Security on their current job. Federal law allows these noncovered workers to remain outsid…
These responses need to be factored into reform packages. Those of us who think about state and local retirement plans tend to focus on funded levels, the implications of large liabilities for borrowing costs, and the extent to which required contributions may crowd out other activities in the state’s or locality’s budget. We tend to…