Tag: state and local pension
The brief’s key findings are: In responding to pension shortfalls, most states are legally constrained from reducing future benefits for current workers. These constraints make it difficult to adjust to changing conditions and to share the burdens of reform fairly between new and current participants. The legal boundaries for pension benefits are typically defined under a contracts-based…
The brief’s key findings are: During 2011, the funded status of public plans slipped from 76 percent to 75 percent. This decline reflected slow asset growth due to actuarial smoothing, which was partly mitigated by an unexpected reduction in liability growth. Going forward, the funded ratio is projected to remain steady next year and then…
