Washington, DC – This week, the National Public Pension Coalition released a new report titled Why Pensions Matter, a comprehensive examination of the origins and importance of public pensions. The report examines how public pensions have developed over time, as well as the ways in which pensions help to combat a growing retirement crisis throughout the United States.
This report emphasizes that the need for public pensions is not new, and, in fact, dates back to the New Deal era as states sought out ways to provide a secure retirement for their public employees. Today, hardworking public employees must be afforded the same benefits.
According to Bailey Childers, Executive Director of the National Public Pension Coalition:
“All Americans should be able to retire with dignity and pensions are the best way to do that. Unfortunately, pensions have come under attack from special interests across the country, threatening the retirement security of our teachers, firefighters, nurses, and other public employees. The history of pensions should remind us why they’re valuable and why we should keep them.”
From Tyler Bond of the National Public Pension Coalition and author of the report:
“In outlining the origins and benefits of public pensions, this report emphasizes the necessity of pensions in today’s economy. Public servants who have dedicated years of their lives to serving our communities should not be losing sleep over retirement security. Public pensions for teachers, firefighters, police officers, and other civilian public servants are the secure and sensible way to keep these hardworking individuals from financial ruin when they can no longer work. The history of pensions is largely understudied, and as a result, largely misunderstood. This report reveals the reasons why state governments should value public pension funds in the face of America’s retirement crisis.”
To read the Why Pensions Matter report, click here.