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Teachers, firefighters, and other public employees in Colorado are members of PERA, the Public Employees Retirement Association. This public pension plan covers most public employees in the state. It is also a Social Security substitute: most members of PERA do…
The attacks on public pension plans are constantly changing. Pension critics claim public employees need to be given a choice between defined benefit pension plans and 401(k)-style defined contribution plans. This is an unnecessary and risky choice. Public employees, like…
Retirement has long been a part of the American dream. Throughout the twentieth century, the belief was that after a lifetime of hard work, workers could retire and enjoy their golden years. When defined benefit pensions were still common in…
The financial crisis and Great Recession had a devastating effect on public pension plans. On average, public pension plans lost about a quarter of the value of their assets due to the crisis. In the years since the recession, almost…
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…
In a blog post last week, we discussed the fact that many Americans plan to work in retirement just to make ends meet. As we’ve mentioned before, though, many people won’t be able to continue working in retirement and may…
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…
Once there was a time in America when retirement meant enjoying your golden years. It could be taking a long-awaited trip, volunteering in your community, or spending time with the grandkids. Retirement, however, did not mean continuing to work. Unfortunately,…
We’ve spent a lot of time on this blog discussing the plight of working families struggling to save for retirement. It’s a challenge for many Americans to save for retirement with the decline of pensions in the private sector and…
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…
We’ve written about the growing retirement security crisis many times. We’re not the only ones to warn about it either. Back in October, the Government Accountability Office issued a significant report on the lack of retirement security for many working…
A Cost of Living Adjustment (COLA) is an occasional increase in the amount of a retiree’s or beneficiary’s pension payment in order to account for inflation. COLAs have been much discussed recently, in part because it has been so long…