Like many folks around the world, we here at NPPC are ringing in 2024 by setting intentions for the upcoming year. In our efforts to guarantee a secure retirement for all public employees, we remain committed to the following:
Protecting retirement security for all public employees.
Public employees are the backbone of this country–we rely on them to keep our communities safe and functional. Whether by maintaining our roadways, educating our children, processing public assistance benefits, or keeping our homes and businesses safe, public-sector workers show up for us every day. However, years of pension attacks and reactionary reforms have threatened the retirement security of these dedicated public servants. In 2023 alone, we saw the closure of one state pension program, after the billionaire-funded Reason Foundation interfered on behalf of Wall Street interests. Pension-opponent American Legislative Exchange Council (ALEC) touted the move as “extraordinary,” However, this closure will drive down the recruitment and retention of frontline workers and devastate essential public services. These billionaire groups make formidable opponents, but in 2024, we are committed to preventing this from happening again, and to preserving modest defined-benefit benefits for all.
Improving pension systems and benefits for public employees.
The opportunity to expand pension benefits for state and local government employees is well within our reach in 2024 and in the years ahead, as state legislations across the country recognize the value of defined benefit pensions when recruiting and retaining qualified staff. We’ve worked (and will continue to work) in states to expand the pool of public employees who qualify for pensions, for Correctional Officers in Kansas, for Paraeducators in Connecticut, and public employees across Michigan. Wherever public employees work on behalf of the American people, they deserve to earn a living wage and retirement benefits. We will also continue to advocate for state legislatures to be responsible fiduciaries, fully funding public pension systems, improving benefits as needed to attract quality employees, and avoiding unnecessary political interference in pension investments. A pension is a promise made to the workers who maintain operations throughout our cities and states, and those workers can rely on us at NPPC to advocate for sound investment and funding practices by states and system administrators.
Returning pensions to people who work to earn them.
In 2023, pensions saw a resurgence of popularity among the private sector. From the United Auto Workers’ (UAW) demands for better retirement benefits to IBM’s dismissal of their 401(k) match in favor of a defined-benefit plan, workers across America are getting closer and closer to restoring pensions as a regular benefit offering. Last year in Alaska, we saw the introduction of Senate Bill 88, a bill intended to provide defined-benefit retirement options to public employees–an option Alaskans haven’t had since legislators voted to close the pension system in 2005. In 2024, we will continue to support efforts to pass SB88 and give state and local government workers the secure retirement they deserve, ending the public service delivery crisis that plagues the state by improving the dismal recruitment and retention rates there. We will continue to put forth efforts in Alaska and other states where the opportunity to return pensions to workers arises.
Here at NPPC, we believe that everyone deserves to retire with dignity. Do you want to help? You can stay on top of public pension news by signing up for our News Clips or our Monthly Newsletter, or by following us on Facebook.
