Tag: state and local government worker
The brief’s key findings are: FY 2022 has been hard for state and local pension plans, with large investment losses and rising outlays due to inflation. The aggregate funded ratio fell from 78 percent to 74 percent, negating much of the gains from the previous year. The impact of rising inflation on pension finances, though,…
About 5 million employees in state and local government are not currently part of the Social Security system. Federal law tries to protect them by requiring that their traditional government pensions provide the same retirement benefits they would receive if they and their employers were instead contributing to Social Security. But the Center for Retirement…
