Massachusetts has committed to paying more than $15 billion over the next 30 years for health insurance for its retirees. But the state has set aside almost none of the money needed to pay for it.
On April 23, the Center for State and Local Government Excellence (SLGE), the Center for Retirement Research at Boston College (CRR), and the National Association of Retirement Administrators (NASRA) announced launch of the enhanced Public Plans Data website (PPD).
After years of wage stagnation, state and local governments are finally seeing room in their budgets for slight wage increases and bonuses.
SLGE’s VP of Research Joshua Franzel speaks to Wall Street Journal re: New Jersey Governor Chris Christie’s pension study committee proposal to move state’s public employee retirement system toward “cash balance” plans as a way to control costs and control liabilities. http://on.wsj.com/1EQlaDE
As private-sector wage growth outpaces the public sector’s, Center President/CEO Elizabeth Kellar writes in Governing Magazine about the challenge governments face attracting and retaining talented employees.
How widespread are municipal bankruptcies? Are municipal defaults increasing? What about state and local pension funding? State and local government revenues have been slowly improving, making it possible for many officials to take steps to address their fiscal challenges. ICMA and the national organizations representing the nation’s governors, state legislatures, and state and local officials Read More
Center President/CEO Elizabeth Kellar writes in Governing Magazine about the need for government leaders and the public to have honest and open communication.
Center Vice President of Research Joshua Franzel recently talked with US Bank’s newsletter about public sector Baby Boomers and retirement. (10/27/14)
Center President/CEO Elizabeth Kellar tells Pensions&Investments that even good GASB numbers should not take attention away from the need for elected officials to focus on funding plans and decisions about setting annual contribution rates. (9/15/14)
Plansponsor.com reports that as more state and local governments reform pensions following the recession, public sector employees have more concerns about retirement. (8/20/14)
Governing covers the joint Center/TIAA-CREF Institute survey of public sector employees’ retirement confidence. (8/20/14)
State and local governments are hiring again, but they’re having difficulty finding — and retaining — the right people. In her column for Governing, Center President & CEO Elizabeth Kellar asks: Do governments have a people problem? (7/8/14)
BenefitsPro.com reports on the Center’s new issue brief on pension obligation bonds. (7/7/14)
PlanSponsor on the Center’s new report on the use of automatic enrollment by retirement plans offered by local governments. (7/1/14)
Center Vice President of Research Joshua Franzel tells Stateline that people who postponed retirement because of the recession are now starting to leave the workforce. (6/20/14)
Governing highlights Center research in an article on state governments adopting automatic enrollment and escalation in the defined contribution plans they offer employees. (6/19/14)
BenefitsPro reports on the Center’s 2014 update on state and local government pension funding. (6/6/14)
Azcentral.com uses the Center’s new workforce report as the basis for an overall look at government employment numbers in Arizona and nationwide. (5/27/14)
The Wall Street Journal reports on the Center’s annual workforce survey. (5/20/14)
Reuters covers the joint Center/NASRA study on the effects of changes in state pension plans on retirees’ income. (5/20/14)