Few public policy debates seem to have as many fundamental misunderstandings as the one over public employee pension benefits.
Funding for public pension plans accounted for just 3% of state and local government spending in 2009, the most recent data available, according to a report from the National Association of State Retirement Administrators.
There is a retirement crisis in our country, but it is not a crisis of one group having too much retirement income. It’s a crisis of other groups having too little.
CalPERS has a new report that says California Gov. Jerry Brown’s idea to alter pensions with 401(k)-style plans won’t help new workers and won’t save California money, either.
California Public Employee Relations Board: City Pension Reform Initiative Amounts To Unfair Labor Practice
Are pensions the equivalent of buggy whips and 8-track cassettes; have they become obsolete? No but we strayed from fundamentals and now we need to return. Plans that stuck to fundamentals are on solid footing today. They provide the example …