Welcome to the latest edition of This Week in Pensions! We have gathered the top stories about pensions and retirement security from the previous week.
NPPC Highlight
This week, we celebrated a major win in Alaska as the House passed HB 78 — a significant step toward restoring defined benefit pensions for the state’s public workforce. This milestone wouldn’t have been possible without the tireless efforts of the Alaska Public Pension Coalition and advocates across the state who have been fighting for years to strengthen retirement security.
Read our full blog to learn more about this victory and what comes next.
National News
Federal Workers Face Renewed Pension Cuts Under GOP Plan
Federal employees are once again under threat—this time from a House Republican proposal to slash $50 billion from federal retirement benefits over the next decade. The plan would hike employee contributions, reduce pension formulas, and eliminate early retirement supplements for many workers.
While some categories, like law enforcement, are partially exempt, union leaders warn that the cuts could drive experienced workers into early retirement and severely undermine morale.
As Rep. Mike Turner (R-OH) stated in opposition to the plan, “These pensions are not giveaways — they are promises to federal workers in exchange for their dedicated service.”
State News
Alaska Moves One Step Closer to Pension Reform as Staffing Crisis Deepens
This week, the Alaska House passed House Bill 78 in a 21-19 vote, moving the state one step closer to restoring a defined benefit pension system for public employees. The bill, now headed to the Senate, would offer guaranteed retirement income to new public workers for the first time since 2006—when the state replaced pensions with a defined contribution system that left many workers, especially teachers, without adequate retirement security.
The issue is far more than a policy debate—it’s a public service crisis. An alarming opinion piece by Alaska firefighter paramedic Shayne Wescott reveals the consequences of chronic understaffing across the state. With a 17% vacancy rate in state government, services are stretched dangerously thin. Critical cases are being dropped, emergency services are overwhelmed, and prolonged delays for basic support like SNAP benefits have become the norm.
HB 78 is a solution to the workforce crisis. While the plan comes with upfront costs, it will save money over time by reducing turnover, recruitment costs, and overtime. The bill is also noted to have been carefully crafted to avoid creating new unfunded liabilities. However, with the Senate unlikely to take action before the session ends, the bill will likely not see a final vote until next year.
As Alaska continues to lose experienced public servants and struggles to fill open positions, the push to restore pensions has never been more urgent. Wescott writes, “This isn’t about politics—it’s about making sure someone answers when you call 911.”
Michigan Corrections Officers Rally Over Stalled Pension Bills
More than 100 Corrections officers and allies rallied in Lansing this week, demanding long-overdue action on stalled pension legislation that passed both chambers of the Michigan Legislature last year— but has yet to reach Governor Whitmer’s desk—a delay union leaders call deliberate and damaging. The Bipartisan package—HB 4655, 4666, and 4667—would add correctional officers and conservation officers to the same hybrid pension plan currently offered to Michigan State Police.
“This was an orchestration of sorts,” said Byron Osborn, president of the Michigan Corrections Organization. “Nobody has offered up any reason as to why these bills still have not been sent to the governor.”
Michigan’s corrections system remains in crisis, with staff shortages as high as 35% in some facilities and rising overtime costs exceeding $120 million last year. Passing the pension bills is essential to recruiting and retaining the officers who keep communities safe.
Georgia Teacher Pension Proves Reliable in Uncertain Times
While stock market volatility continues to make headlines, Georgia’s Teachers Retirement System (TRS) offers something increasingly rare in today’s financial landscape: stability. According to a recent update, TRS has nearly reached its annual growth target, reporting net assets of $108.7 billion as of April 30—up 6.8% from the same time last year and just shy of its 6.9% fiscal goal.
The system’s performance comes despite recent market swings triggered by economic uncertainty and political tensions, including tariff talks that initially rattled investors. Even after losses earlier in the year, TRS has rebounded, demonstrating the value of long-term investment strategies used by defined benefit pensions. Unlike 401(k)s, which place the burden of investment risk on individual workers, pensions pool risk, smooth out gains and losses over time, and offer guaranteed income in retirement.
This stability matters. TRS serves approximately 152,000 retirees and 241,000 active teachers—people who rely on the promise of a secure retirement after decades of public service. As TRS Executive Director Buster Evans put it, “Our teachers should be very confident that our plan is able to meet its obligations.”
In a time of economic uncertainty and rising living costs, Georgia reminds us why retirement security shouldn’t be left to chance. Pensions aren’t just an investment vehicle—they’re a lifeline.
Be sure to check back next Friday for the latest in the fight for a secure retirement! For now, sign up for NPPC News Clips to receive daily pension news from across the country directly to your inbox.