Many state and local retirement plans are on an unsustainable course, having failed to set aside enough money to fund the promises they have made. To inform state policymaking, Pew provides research on the fiscal challenges state and cities face as a result of their pension and retiree health promises. With the understanding that there is no one-size-fits-all solution, the project also offers technical assistance to states and municipalities as they undertake pension and retiree health care reforms to ensure their public sector retirement systems are affordable and sustainable, provide a secure retirement for workers, and preserve governments' ability to recruit and retain a talented public-sector workforce.
The Bipartisan Effort in 2013 Resulted in Fair and Effective Retirement System for Employees and Taxpayers Alike
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The Pew Charitable Trusts performs 50-state and major city research on all aspects of public pension systems, including their fiscal health, investment practices, benefits design, and governance. Pew’s project on public sector retirement systems developed some of the first and most comprehensive studies of underfunded public pensions throughout the United States. This fact sheet updates... Read More
The Virginia Commission on Employee Retirement Security and Pension Reform, created last year at the urging of Republican House Speaker William J. Howell, voted in December to propose two retirement system reforms to the legislature and three procedural changes to the Virginia Retirement System’s (VRS) board of trustees. Read More
The challenge of balancing pension costs with the need to recruit and retain a strong workforce has prompted policymakers in many states to take a closer look at how they provide retirement benefits. A number of states with defined benefit (DB), or traditional, pension plans have policies that allow them to retain the core elements of the benefit while sharing the risk of cost increases—as... Read More