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Today’s post was written by NPPC’s Executive Director Bridget Early. Readers of Defined Benefit know that NPPC has been shining a light on the failings of the defined contribution 401(k). Since its inception in the 1980s as a retirement savings…
If you happen to stumble across the website TeacherPensions.org, you might think it is a website advocating for the retirement security of public school teachers. You would be wrong. TeacherPensions.org is a project of Bellwether Education Partners, an “education reform”…
Public pensions are powerful economic engines for local communities, states, and the national economy. As the money in public pension funds is invested and as public pension benefits are spent by retirees, this creates economic activity that supports local jobs,…
Earlier this week, the California Supreme Court issued a major decision in a case regarding public pension benefits in the Golden State. Ruling in the case Cal Fire Local 2881 v. CalPERS, the court unanimously agreed to uphold the California…
Americans are facing a retirement savings crisis. The experts have warned about this for a while now. But do working families themselves recognize the growing crisis? The answer is overwhelmingly “yes” according to a new survey from the National Institute…
In the past few years, states have considered legislation that would require public pension plans to conduct financial stress testing. While we’ve mostly written about Pew’s promotion of cash balance plans, Pew is also known for traveling to states and…
One of the major news stories last week was Amazon’s announcement that they are abandoning their plans to locate part of HQ2 in New York City. Facing pressure from local politicians and concerned citizens over a variety of issues, including…
Yesterday, people across the United States celebrated Presidents’ Day. Many had the day off from work thanks to the federal holiday, which is officially Washington’s Birthday, not Presidents’ Day. Many others undoubtedly took advantage of the numerous sales offered for…
In the immediate aftermath of the Great Recession and facing pressure from anti-pension ideologues, a number of cities and states passed harmful changes to public pensions. Now those cities and states are beginning to face the consequences of these changes.…
Public pension plans continue to improve their funding levels. This is the big takeaway from the latest plan survey by the National Conference on Public Employee Retirement Systems (NCPERS). Each year NCPERS, a trade association representing more than 500 state…
Welcome to the latest edition of This Week in Pensions! As we do most weeks, we have gathered the best stories about pensions and retirement security from the previous week. This is the news you need to know in the…
Retired public employees in Wyoming have not received a cost of living adjustment (COLA) in over a decade. COLAs are necessary to adjust for inflation. The price of almost everything, including food, medicine, and rent, tends to increase over time.…