Tag: Pension reform

Tag: Pension reform

  • Converting Pension Plans from Defined Benefit to Defined Contribution: The Myths and the Messaging Part 1 image

    Converting Pension Plans from Defined Benefit to Defined Contribution: The Myths and the Messaging Part 1

    Welcome to part one in a series on how to successfully explain the conversion of public pension plans from defined benefit (DB) to defined contribution (DC) to legislators and the …

  • Pensions, Incentives and Mismanagement image

    Pensions, Incentives and Mismanagement

    The most recent edition of Unaccountable, Unaffordable, the ALEC Center for State Fiscal Reform uncovered a disturbing trend in pension management. States that are …

  • Unaccountable, Unaffordable 2017 image

    Unaccountable, Unaffordable 2017

    Unaffordable and Unaccountable 2017 surveys the more than 280 state-administered public pension plans, detailing their assets and liabilities. The unfunded liabilities (the amount by which the present value of liabilities …

  • Pension Obligation Bonds Could Unravel Pension Reform Victory image

    Pension Obligation Bonds Could Unravel Pension Reform Victory

    Issuance of POBs will negate the recent pension reform victory by shifting current pension costs to future taxpayers and gambling the commonwealth’s fiscal health on risky arbitrage.

  • ALEC Applauds Michigan’s MPSPERS Pension Reform Efforts image

    ALEC Applauds Michigan’s MPSPERS Pension Reform Efforts

    This reform package preserves retirement security for existing and future employees while putting in place a more fiscally sustainable benefit for new workers. Both teachers and taxpayers win.

  • Pennsylvania Passes Bipartisan Pension Reform image

    Pennsylvania Passes Bipartisan Pension Reform

    By preserving retirement security for existing and future employees while putting in place a more fiscally sustainable benefit for new workers, both public employees and taxpayers win.

  • Enhanced Integrity in Public Employee Pension Plan Reporting image

    Enhanced Integrity in Public Employee Pension Plan Reporting

    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 …

  • State of the State: South Carolina image

    State of the State: South Carolina

    The Clemson Tigers’ historic win in Monday’s National Championship game may be at forefront of the minds of everyone in South Carolina, but the Palmetto State has much more of which …

  • For Economic Opportunity, the Redder the Better image

    For Economic Opportunity, the Redder the Better

    Many of America’s bluest states are deep in the red thanks to tried-and-failed progressive policies. The Illinois General Assembly can’t pass a long-term budget deal, leading to significant losses …

  • Growth in the Desert image

    Growth in the Desert

    By abandoning the tax-and-spend playbook and prioritizing sound budgeting, state officials and legislators continue to help Arizona separate itself from economically overburdened states like Illinois, Connecticut and Pennsylvania.

  • Arizona Passes Fundamental Pension Reform image

    Arizona Passes Fundamental Pension Reform

    According to the Reason Foundation’s Pension Integrity Project, the reform package will save Arizona taxpayers a combined $1.5 billion over 30 years.

  • State of the State: Hawaii image

    State of the State: Hawaii

    Governor Ige is right to focus on enhancing Hawaii’s ability to compete in the global economy. However, these new initiatives fail to address the root problem—Hawaii’s uncompetitive business climate.

  • State of the State: Utah image

    State of the State: Utah

    Few states in the nation can rival Utah’s commitment to fiscal responsibility and economic competitiveness. A lesser writer would even say that the Beehive State’s economy is buzzing. Utah’s consistent …

  • Resolution in Support of Pension Reform Bridge Funding and Compliant OPEB Liability Funding image

    Resolution in Support of Pension Reform Bridge Funding and Compliant OPEB Liability Funding

    Whereas, State, County and Municipal Governments have accrued trillions of dollars in unfunded Pension and OPEB Post-Retirement Benefit Liabilities over the course of many decades. Whereas, these unfunded Pension and …

  • Jonathan Williams Discusses Pennsylvania’s Competitiveness on PMA Perspective image

    Jonathan Williams Discusses Pennsylvania’s Competitiveness on PMA Perspective

    Jonathan Williams Discusses Pennsylvania’s Competitiveness on PMA Perspective On Sunday night, Vice President for the Center for State Fiscal Reform, Jonathan Williams, joined Carl Marrara of the Pennsylvania Manufacturers Association …

  • New Poll Reveals Strong Majority of Americans Support Pension Reform image

    New Poll Reveals Strong Majority of Americans Support Pension Reform

    State pension plans across the country continue to face significant fiscal challenges. In fact, nonpartisan fiscal watchdog State Budget Solutions estimates that state pension unfunded liabilities now total …

  • University of California Pension Costs Force Tuition Increase image

    University of California Pension Costs Force Tuition Increase

    Time and time again, California proves itself to be a what-not-to-do handbook for states looking to responsibly balance their budgets. This reputation was clearly on display by the University of …

  • Unfunded Public Pension Liabilities Reach $4.7 Trillion image

    Unfunded Public Pension Liabilities Reach $4.7 Trillion

    As newly elected state legislators across the country consider what issues to address, they are likely to encounter the growing storm cloud of unfunded pension liabilities. According to Promises …

  • Tax Reform and Pension Reform image

    Tax Reform and Pension Reform

    This appeared on PublicSectorInc.Org on March 11, 2014. Congressman Dave Camp’s recently released tax reform draft has stimulated a much-needed national conversation about the U.S. tax code, attracting  …

  • Pension Expert: Local Pennsylvania Downgrades Lurk image

    Pension Expert: Local Pennsylvania Downgrades Lurk

    With new accounting rules looming, states and municipalities are beginning to realize that their unfunded pension liabilities are much more severe than they had previously estimated. Defined-benefit pension plans, the …