Welcome to the latest edition of This Week in Pensions! 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 fight for a secure retirement.
NPPC News
This week marks the 90th anniversary of the Social Security Act. Nearly 74 million Americans depend on Social Security. It’s the foundation of America’s three-legged stool of retirement security—alongside pensions and personal savings—and for many, it’s the most stable leg of them all. Read our newest blog, 90 Years of Social Security: Protecting the First Leg of Retirement Security, to learn about the growing threats it faces today—and what we can do to protect it.
Iowa Governor Addresses DOGE Recommendation to End Pensions
Some Iowa lawmakers are sending a clear message following an in-state DOGE task force’s recommendation to cease offering defined benefit pensions to new public employees: they have “no interest” in making changes to IPERS.
The proposal to shift new state employees out of the defined benefit pension and into a 401(k)-style defined contribution plan was among the task force’s 45 recommendations aimed at “streamlining” state services. State lawmakers have responded in full force, including Representative Brian Lohse, who went to social media to address the issue, saying, “The Iowa DOGE Task Force has provided recommendations with regard to the IPERS plans… …I will be encouraging our leadership and my colleagues, several of whom have already expressed this same sentiment, that changes to IPERS is not a recommendation that we should be pursuing.”
Governor Kim Reynolds has also attempted to distance herself from the DOGE task force’s recommendation to eliminate pensions drastically. Still, she stopped short of making a long-term commitment to preserving defined benefit pensions for all future employees. She expressed an openness to radical changes to IPERS, suggesting the committee should …take a look at new people coming in.”
Florida DOGE Presses Down on Cities
Another state DOGE committee is cracking down on government spending across Florida, impacting cities and counties in the Sunshine State. Florida Chief Financial Officer Blaise Ingoglia, the chair of the Florida Department of Government Efficiency, pledged that “when local governments say that they cannot cut, we’re going to show them places that they can cut.”
Lowering property taxes is a key factor in these DOGE committees’ investigations and actions, which will directly lead to fewer public services. “I don’t want to hear from local governments saying they’re going to cut any fire and any police, because those are the first things they should be taking care of,” Ingoglia said. “When local governments say that they cannot cut, we’re going to show them places that they can cut.”
Read more about the long-term effects of state DOGE committees here.
New Report Determines Many Americans Expect to Work “Indefinitely”
According to a recent report from Asset Preservation, a financial advisory firm, over half of Americans 65+ expect to work indefinitely—driven equally by economic need and personal fulfillment.
60% of respondents said they plan to work at least five extra years, pushing the earliest retirement age to about 70. The reasons are split nearly evenly: about half continue for financial necessity—covering basic expenses like housing and healthcare—while the other half plan to stay at work for mental engagement. The report reaffirms that many older adults lack adequate retirement savings—nearly 49% of Americans 55 and older have no retirement savings, and only 17% are enrolled in traditional defined-benefit pension plans, shifting the burden of retirement planning onto individuals.
Be sure to check back next Friday for the latest news in the fight for a secure retirement! For now, sign up for NPPC News Clips to receive daily pension news from across the country directly to your inbox.