Tag: state and local workers
The brief’s key findings are: GASB proposes two major changes for reporting purposes. Assets would be valued at market rather than smoothed. Liabilities would be discounted by a blended rate using: the long-run return for liabilities covered by projected assets; and the high-grade municipal bond rate for liabilities covered by other resources. These changes would reduce reported…
The brief’s key findings are: Most state-local pension plans are designed to provide adequate retirement income for full-career workers. However, the vast majority of state-local workers spend only a portion of their career in the public sector. As a result, most households with state-local employment retire with total replacement rates that fall well short of…
