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Public pensions are not a recent creation. In fact, the earliest public pension in the United States was established over 150 years ago for police officers in New York City. We covered the history of public pensions in our recent…
Is anyone else experiencing some serious deja vu? Michigan Senate Majority Leader Arlan Meekhof has been tossing around the idea of closing the Michigan Public School Employees Retirement System (MPSERS) pension plan and moving new hires to a defined contribution…
Welcome to the latest edition of This Week in Pensions! As we do most weeks, we have gathered the top stories about pensions and retirement security from the previous week. This is the news you need to know in the…
Should I stay or should I go? This question is more than just the refrain from the insanely catchy 1982 hit by The Clash. It’s also a daily quandary facing Oklahoma’s underpaid educators. Shawn P. Sheehan, Oklahoma’s 2016 Teacher of…
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…
Long-time readers of Defined Benefit are familiar with John Arnold, the money behind many attacks on public pensions. Loyal readers have also heard about the Pew Research Center, which uses Arnold’s money to promote flawed anti-pension research, and the Retirement…
When a state closes a public pension system, the consequences are widely felt. Unfunded liabilities skyrocket and plan costs rise. Defined contribution 401(k) plans cost 91% more than pensions, with the burden falling on taxpayers. No one feels these consequences…
This week is National Retirement Planning Week. During this week, the financial services industry encourages Americans to focus on setting aside what they’ll ultimately need for a secure retirement. Unfortunately, many Americans will only be able to save for retirement…
Welcome to the latest edition of This Week in Pensions! Today may be April Fool’s Day, but we’re no fools when it comes to retirement security. Pensions continue to provide the most secure retirement for working families. In case you…