Tag: public pensions
Changes impact current retirees, current employees, and current and future taxpayers. At the end of May, the Governor of Texas signed a pension reform bill for the Dallas Police & Fire Pension System (and separate measures for Houston’ three pension plans). This legislation reduces benefits, reforms the Deferred Retirement Option Program (DROP), and raises revenues…
The brief’s key findings are: In 2016, the funded ratio of state and local pensions declined under both old and new accounting rules. This decline reflected steady growth in liabilities and slow growth in assets due to poor stock performance. More recently, the revival of the stock market is helping plan assets recover, with funded…
