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In addition to providing retirement security that retirees can count on, defined-benefit pensions also play an important role for state and local governments to recruit and retain highly qualified public employees in their workforces. A report from the National Institute…
As state legislative sessions are coming to an end around the country, state policymakers have faced budget deficits due to the coronavirus pandemic. To fill their budget deficits, some have argued that policymakers should consider taking away defined-benefit pensions for…
On Friday, April 2, the Alaska Supreme Court voted 3-2 to allow Alaska’s public employees to buy back into Tier 1 of the states’ Public Employees’ Retirement System (PERS) and Teachers’ Retirement System (TRS). Tier 1 of both systems provides…
Welcome to this week’s edition of This Week in Pensions! This is the news you need to know in the fight for a secure retirement. Before you dive into our top stories from this week, check out some stories 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…
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…