Archive: Pension reform

  • Enhanced Integrity in Public Employee Pension Plan Reporting March 15, 2013

    Enhanced Integrity in Public Employee Pension Plan Reporting  Summary Under current GAAP for state and local governments some financial statement users may not realize the gravity of failure to address under-funding of state-sponsored pension plans. This Resolution calls upon the [...]

  • Unfunded Pension Liabilities Accounting and Transparency Act March 15, 2013

      Unfunded Pension Liabilities Accounting and Transparency Act  Summary The Legislature finds that the future liabilities of the state’s several post-retirement pension and benefits plans may exceed the ability of these plans to fully pay future claims, possibly requiring taxpayers [...]

  • Defined-Contribution Pension Reform Act March 15, 2013

    Defined-Contribution Pension Reform Act Intent Section The Legislature finds that the defined-benefit model of retirement benefits for state and municipal employees is not fiscally sustainable. It is the intent of the Legislature, therefore, to direct the [state retirement board] to [...]