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Welcome to the latest edition of This Week in Pensions! As we do each week, 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…
State and local public pensions generate significant amounts of economic activity nationally each year. In 2014, state and local public pension plans paid $253 billion to 9.6 million retirees and their beneficiaries. These pension benefits helped to support over 3.4…
Welcome to the latest edition of This Week in Pensions! As we do each week, we have gathered the best stories about pensions and retirement security. This is the news you need to know in the fight for a secure…
It turns out the secret to a strong public pension system isn’t a secret at all: fully funding the pension every year is the most important thing cities and states can do to have a strong public pension system. Today…
Welcome to the latest edition of This Week in Pensions! As we do each week, we have gathered the top stories about pensions and retirement security. This is the news you need to know in the fight for a secure…
If you are a regular reader of Defined Benefit, then you already know that we don’t care for defined contribution plans like 401(k)s that have many failings when compared to traditional pensions. One of these failings is that they provide…
Last month on the blog, we talked about Kansas and how harmful right-wing tax policy there had ruined the state’s budget and threatened public pensions and other critical state services. A similar situation is happening in Oklahoma. Just like in…
In 1981, during the dictatorship of General Augusto Pinochet, Chile radically reformed its pension system. It changed from a traditional public pension system to a system of mandatory individual retirement accounts. These accounts are privately managed by firms selected by…
Welcome to the latest edition of This Week in Pensions! As we do each week, 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…
Last week the Kinder Institute at Rice University released a report examining the causes of the growth in Houston’s unfunded pension liabilities. The report also proposed several possible changes to reduce the unfunded liability. The report focuses on the combination…
As we’ve written about extensively on this blog, employer-sponsored retirement plans have changed a lot over time. In the private sector, 401(k)s have largely replaced defined benefit pensions and this shift has weakened the retirement security of working families. 401(k)s…
The Opening Ceremonies for the 2016 Olympic Games were held in Rio de Janeiro last Friday. Four days into the competition, medals have been awarded, dreams have been fulfilled, and millions watching at home have been inspired. Just like the…