Welcome to the latest edition of This Week in Pensions! This is the news you need to know in the fight for a secure retirement. We have gathered the top stories about pensions and retirement security from the previous week.
September marks NPPC’s 16th year as a leading advocate for retirement security. Check out this week’s blog, which recaps our history as an organization. Happy birthday, NPPC!
While the private sector did away with traditional pensions long ago, CNN Business reminded us this week that Americans can still earn a secure retirement with a defined-benefit pension through some employers – namely, state and local governments. The United Auto Workers negotiations and lingering strike this week have pushed pensions back into the national media spotlight, as UAW union members are part of the 7% of private sector employees that still have access to defined benefit retirement plans. However, most public employees still have access to pension funds in one form or another, making them a unique and valuable tool to recruit and retain workers.
The American Legislative Exchange Council (ALEC) is busy at work in Ohio, offering state lawmakers 23 pieces of ready-made “model” legislation, including policy changes to the state’s pension fund investment strategy. ALEC has been pushing its anti-pension rhetoric alongside other pension opponents like the Reason Foundation and the Equable Institute for years. ALEC’s involvement in Ohio comes as no surprise, as states continue to weigh the benefits of ESG, or environmental and social governance, an investment strategy that has garnered much attention over the last few years.
Be sure to check back next Friday for the latest news 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.