Tag: state and local workers
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…
Abstract A widespread perception is that state-local government workers receive high pension benefits which, combined with Social Security, provide more than adequate retirement income. This study uses the Health and Retirement Study (HRS) and actuarial reports to test this hypothesis. The major finding from the HRS analysis is that most households with state-local employment end…
