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Public pensions depend on full funding in order to succeed. More than anything else, public pension plans need to receive their full contributions each and every year. Public employees contribute to their pensions with every paycheck and they never miss…
Last month the Board of Trustees for Social Security released their annual report on the program’s finances. Much of the information was the same as in previous years: the Social Security trust fund is projected to be exhausted in 2034.…
In June, Congressman Devin Nunes (R-CA) reintroduced the Public Employee Pension Transparency Act (PEPTA). Rep. Nunes has introduced this legislation for the past four Congresses. PEPTA would require state and local public pension plans to disclose their unfunded liabilities to…
In late June, a circuit court judge in Kentucky ruled that Senate Bill 151, the stinking, pension-gutting law, is unconstitutional. The extremely rushed process by which the state legislature passed the bill clearly violated state law and rendered the entire…
Earlier this year, we exposed John Arnold’s “web of connections.” This is the wide variety of groups he funds to attack public pensions. Many of these groups are connected to each other and many of them cite each other’s work…
The Reason Foundation is a prominent, national libertarian advocacy organization. Their advocacy covers a wide range of public policy issues, but one area where they are particularly focused is public pensions. For their work campaigning against public pensions, they have…
Earlier this year, we wrote about Cost of Living Adjustments (COLA). To recap, a COLA is an adjustment in the amount of a pension benefit to account for inflation. Since the price of almost everything is constantly going up due…
Since the Great Recession in 2008, warnings of an impending pension crisis have been splashed across the business pages of newspapers across the country. Despite these boisterous decrees, America’s public pension funds are stable. We explore the roots behind the…
Retirement inequality is increasing in the United States and the age of retirement is one dimension of that inequality. While the overall average retirement age for Americans is increasing, that increase is not even across socio-economic status. Less educated workers…
Despite its name, the Reason Foundation cannot be trusted to provide accurate information regarding public pensions. This so-called “think tank” promotes a radical anti-government agenda that is openly hostile to public employees and their retirement security. They have also accepted…
Despite what you may think, public pension plans generated more than $277 billion in state and local tax revenues in 2016. That is the groundbreaking finding of a new report from the National Conference on Public Employee Retirement Systems (NCPERS).…
Defined benefit pensions are the most secure form of retirement savings. This has been true for decades and is why cities and states have offered pensions to their public employees for more than a hundred years. Pensions also used to…