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
Guidance for policymakers to ensure plans are affordable and sustainable
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State and local governments have seen an uptick in retirement rates among baby boomers and other older people who make up a large segment of their workforce, and this development could have major implications as policymakers consider changes to benefit programs for public workers. Read More
The ability of state and local governments to deliver public services depends increasingly on whether they can recruit and retain younger workers. Many baby boomers, who represent a large portion of the public sector workforce, postponed leaving their jobs—and the labor force—as a result of the Great Recession, but governments are now reporting an uptick in retirements and a growing... Read More
After the Great Recession took a toll on retirement savings for millions of Americans in the late 2000s, many baby boomers working in the public sector postponed their retirements. Today, however, the retirement rate among these workers is rising, with many state and local governments reporting increases in recent years. Read More