State and local governments are faced with a number of uncertainties about the future of health care in the U.S. as well as in their own organizations. An examination of some of the broad questions that will affect future costs. (7/08)
All Research Studies
This report stems from a request from the Michigan House of Representatives Committee on Retiree Health Care Reforms for research on retiree health care funding options. (6/08)
What does it take to ensure that states and local governments make their annual required contribution to fund pensions?
This paper looks at the confluence of the demographics of the aging public sector workforce and the post-employment health care benefits they expect when they retire, along with the implications of the changes in accounting standards for government retiree health care. (5/08)
What does it take to have a well-funded pension plan?
There is no federal law that mandates funding for state and local government retirement plans, and yet these plans are funded about as well as private sector plans that operate under the Employee Retirement Income Security Act of 1974. Why is that?
Census data provide some insights on the trends in state and local government pension plans, including revenues, benefit payments, assets, holdings, and membership.
Although most states and localities offer their employees defined benefit pension plans, in the last decade 12 states have introduced some form of defined contribution plan.
Defined pension plans, while disappearing in the private sector, are alive and well in the state and local government sector.
With heightened emphasis on the economic security of future retirees, it is critical to understand the differences between state and local pension plans and those offered by the private sector.