Factors Driving Pension Reforms
SLGE’s newest issue brief, “State and Local Pension Reform Since the Financial Crisis” examines how, why, and to what extent state and local governments have enacted pension reforms in the aftermath of the financial crisis. 74 percent of state plans and 57 percent of large local plans have cut benefits or raised employee contributions to curb rising costs, with higher employee contributions being the most common benefit reduction for current employees.
2017 Trends to Watch in State and Local Government
To ring in the new year, SLGE highlighted the top trends to watch in state and local government. They include demographic shifts within the workforce, an emphasis on recruiting and retaining talented employees, making succession planning a priority, among others.
Governments Brace for Exodus of Baby Boomers
For more than a decade, analysts have predicted an impending wave of baby boomer retirements in state and local governments. The Great Recession delayed this trend, but now that the economy is on a path to recovery, boomers are now resuming their retirement plans. Speaking to the Council of State Governments (CSG), Leslie Scott, executive director of the National Association of State Personnel Executives, explained that “baby boomers are finally starting to retire-not only because the economy improved, but also because of changes states have implemented or may implement in their retirement systems.” SLGE’s annual Workforce Trends survey supports this argument, finding that 54% of state and local governments saw increased retirements in 2015 from 2014.
SLGE in the News
- Smart Business highlights SLGE’s annual Workforce Trends survey in its article about governments recruiting for a post-boomer future.
- Public CEO cites data from Public Plans Data in its story on the implications of government policy on CalSTRS and CalPERS funding status.
- USA Today’s Public Opinion highlights SLGE’s workforce demographics research in its report on economic growth in Franklin County, PA.
- Public Plans Data and the pension landscape to be highlighted at the upcoming World Pensions Investments Forum.