Public Pensions: Emerging Trends
Public pension systems continue to face significant challenges, a trend that has continued for more than a decade. While public pension difficulties alone would not be a destabilizing force on the economy, the fact that every other element of our nation’s retirement architecture also faces complex challenges requires the urgent attention of policymakers at all levels of government. This Fiscal Alert reviews the different reforms already initiated by the states in calendar years 2009 through 2011 to stabilize their pension systems, then examines two other trends have surfaced in public pension circles in recent years that require attention: 1) government run retirement plans for private sector employees and 2) cash benefit plans, which include features of both a traditional DB pension and a 401(k)-style system.
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