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What happens when a state abandons its defined benefit pension for a riskier, 401(K)-style plan? Taxpayers lose – According to the National Institute on Retirement Security, “for a given level of retirement income, a typical 401(k) plan costs 91% more…
This month, the National Public Pension Coalition (NPPC) celebrates its 11th anniversary of fighting for the retirement security of working families. We have seen some great victories and some painful defeats in the fight to protect pensions. The past eleven…
The fight to protect pensions is a national one, but the battles are fought state by state. NPPC works with state partners across the country to protect pensions from attacks by John Arnold, Pew, and their allies. Today we want…
On Tuesday, we wrote about a new case study examining the experiences of Palm Beach, FL after the town closed its defined benefit pension plan for police officers, firefighters, and other municipal employees. Palm Beach is certainly not the only…
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…
It’s the holiday season. While the merry bells keep ringing, Santa Claus is coming back with a big fat pack upon his back. And you can be sure that he’s making a list and checking it twice and he’s going…
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…
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…
States across the country, from Wisconsin to Oklahoma to Alaska, are experiencing teacher shortages. Fewer people are preparing to become teachers and it is becoming more difficult for states to find qualified individuals to replace teachers who quit or retire.…
In the conversation around public pensions, there are a lot of myths that get repeated over and over again. We’re going to dispel three of the most common myths here. Myth #1: Pensions are Underfunded and Unsustainable Fact: Most public…
We all know that pensions provide a safe and secure retirement for public employees in a cost-effective way. In many states, though, anti-pension ideologues and politicians try to sell pension “reform” as a way to save money for the state.…