New Issue Brief: The Funding of State and Local Pensions: 2012-2016
This brief finds that the funded status of state and local pensions declined from 75 percent in 2011 to 73 percent in 2012 as losses from the 2008-2009 market crash continue to be smoothed. The brief also looks ahead at how the new Governmental Accounting Standards Board financial reporting requirements will affect pension calculations in 2014. Read the full brief.
Spotlight on Retiree Health Care Benefits for State Employees in 2013
An overview of the health benefits states provide to their retired employees and how states are addressing unfunded liabilities associated with the benefit.
In June, Center Vice President of Research Joshua Franzel spoke to the National Governors Association Convening on State Employee and Retiree Health Care. Franzel discussed the status of retiree health care, unfunded OPEB liabilities, and changes states are making to the retiree health care benefits they offer. Learn more.
State Pension Reform Revisited
Some states have made more than one round of changes to their pension plans, each time correcting previous reforms, building upon new benefit designs, or targeting different areas entirely. Learn how New York, Oregon and Michigan approached their pension plan reforms.
Public Sector Pension Reform from a Long-Term Perspective
In late 2012, Center Vice President of Research Joshua Franzel spoke at a forum hosted by the TIAA-CREF Institute and SUNY Rockefeller Institute of Government, “Public Sector Pension Reform: Addressing Pressing Fiscal Realities from a Long-Term Perspective.”
Franzel’s presentation looked at evolving state and local government workforce demographics; the recruitment and retention challenges state and local governments face; and trends in the changes governments are making to their workforce policies in the wake of the recent recession.
Read the full report on the forum.