Tag: state and local pension plans
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…
The brief’s key findings are: Despite a strong stock market, the funded status of public plans in 2013 remained unchanged at 72 percent for two reasons: actuarially smoothed assets grew modestly; and CalPERS, one of the nation’s largest plans, significantly revised its reported funded ratio. An encouraging sign is that sponsors appear to be paying…