How Have Pension Cuts Affected Public Sector Competitiveness?


Summary:

State and local data from 2005 to 2014 show the impact pension cuts have on the ability of governments to recruit, retain, and retire talented employees.

Author(s):
Laura D. Quinby, Geoffrey T. Sanzenbacher, and Jean-Pierre Aubry
Publication date:
April 9, 2018
Filed under:
Research Studies
Key findings:
One of the central findings is that, especially for new hires, the implementation of pension reform hampered governments’ ability to attract new employees. This is important to note in an environment where governments are experiencing increases in retirements and are competing for talent at a time when unemployment rates, especially for those with college degrees, are relatively low.
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This brief explores the effects of 2005 to 2014 pension reform on state and local government competitiveness in the labor market, for both new and existing public servants.