David Draine, a senior researcher at Pew, serves as a principal investigator and methodologist for Pew’s research on public sector retirement systems. The project’s work has showcased the funding challenges that face many state and local pension systems and retiree health care plans, as well as possible solutions. Draine’s research has looked at pension plan design, risk and uncertainty, and disclosure and transparency.
Based on this work, Draine has advised state and local task forces considering public sector retirement system reforms. He also has conducted research and analysis on critical state policy issues involving state revenue systems, investments in transportation infrastructure, economic development, and mortgage lending.
Draine holds a bachelor’s degree in history from Princeton University and a master’s degree in public policy from Johns Hopkins University.
Recent WorkView All
Pension reform legislation enacted this year in Pennsylvania with broad bipartisan support is historic in its scope and impact. The new law establishes what is known as a risk-managed hybrid plan for new employees that lowers costs and significantly reduces risk for taxpayers—while preserving a path to retirement security for public workers. At the same time, it maintains and extends the... Read More
State and local pension plans hold over $3.6 trillion in retirement fund investments for participants and their beneficiaries, with returns on these investments accounting for an estimated 60 percent of the money paid out in pension benefits each year. In recent decades, public pension funds, in a bid to boost returns, have shifted funds away from low-risk, fixed-income investments—such as... Read More
States paid a total of $20.8 billion in 2015 for non-pension worker retirement benefits, known as other post-employment benefits (OPEB). Almost all of this money was spent on retiree health care. The aggregate figure for 2015, the most recent year for which complete data are available, represents an increase of $1.2 billion, or 6 percent, over the previous year. The 2015 payments covered... Read More