Reports and Studies continued
Displaying Matches 7 thru 21 of 189 Found. BACK NEXT
Manhattan Institute Report: Defined-Contribution Pensions Are Cost-Effective
The relative merits of DC plans and DB plans have long been debated. Many public-sector employers have recently considered placing new employees in a DC plan; but only two states, Michigan and Alaska, as well as a handful of cities, currently use a DC plan as the primary retirement savings vehicle for new employees. When state and local governments have considered adopting a DC plan for new employees, they have encountered significant opposition from organized labor, managers of current public-retirement systems, and the cottage industry of consultants that supports public DB plans. . . .
Pew Charitable Trusts -- The State Pensions Funding Gap: Challenges Persist
This report focuses on the most recent comprehensive data and does not fully reflect the impact of recent strong investment returns. Because state retirement systems have historically accounted for investment losses and gains over time, the latest data still include losses from the 2008 Great Recession and do not fully incorporate the strong returns of recent years. As these returns are fully realized under new accounting standards, preliminary data from 2014 point to a reduction in unfunded liabilities for the majority of states. Many states have also benefited from reforms enacted since the financial crisis. . . .
Actuarial Funding Policies and Practices for Public Pension Plans
This white paper is based on funding policy discussions among the members of the Conference of Consulting Actuaries Public Plans Community (CCA PPC)and reflects the majority opinions the CCA PPC members1. Those discussions relied heavily upon and generally concurred with the funding policy white paper prepared by the California Actuarial Advisory Panel (CAAP) and the level cost allocation model developed therein2. For that reason, the CCA PPC has chosen to build directly on the CAAP document in developing its own funding policy guidance. . . .
Longevity plans: An answer to the decline of the defined benefit plan
With people living longer and the shift to defined contribution (DC) plans, retirement concerns are have risen to the forefront. Having a defined benefit (DB) plan offering a life annuity benefit can combat participant longevity risk. But DB plans have lost their favor with many employers. The question is whether an employer-supported retirement model can be designed to sufficiently address both participant longevity risk and employer sustainability concerns. . . .
Final Legislative Report: 2015 Regular Session
A report on the Florida 2015 legislative regular session and pension related bills. . . .
NCPERS -- Income Inequality: Hidden Economic Cost of Prevailing Approaches to Pension Reforms
Reforms that negatively affect pension plan participants and beneficiaries also exacerbate income inequality and hinder economic growth, according to a new study by the National Conference on Public Employee Retirement Systems (NCPERS). The study showed a strong correlation over three decades between the declining number of workers covered by defined benefit pension plans and the growing income gap between rich and poor Americans. . . .
NIRS - Retirement Security 2015: Roadmap for Policy Makers Americans Views of the Retirement Crisis
A new nationwide public opinion research report finds that an overwhelming majority of Americans 86 percent believe the nation faces a retirement crisis. . . .
Do Public Pensions Help Recruit and Retain High-Quality Workers? (Oct 2014)
The briefs key findings are:
Research shows that pensions help recruit and retain high-quality workers; thus, cutbacks in public pensions could hurt worker quality.One indicator of quality is the wage that a worker can earn in the private sector.Using this measure, states and localities consistently have a quality gap the workers they lose have a higher private sector wage than those they gain.The analysis shows that jurisdictions with relatively generous pensions have smaller quality gaps, meaning they can better maintain a high-quality workforce.The bottom line is that states and localities should be cautious about scaling pensions back too far. . . .
LeRoy Collins Institute: Report Card Update: Florida Municipal Pension Plans
Public pensions continue to be a significant source of financial stress in many state and local governments. Although
news headlines generally focus on a few particularly distressed governments, such as Detroit and Chicago, the
challenge of managing pension obligations is widespread and leading taxpayers and employee groups across
the country to look more closely at the financial condition of their own pension plans. Investigating public pension
obligations is relatively easy in most states, since there are usually only a handful of statewide plans and relatively few
local ones. It is more difficult in Florida because of the large number of locally sponsored pension plans. The Florida
Department of Management Services (DMS) monitors 491 local government plans only Illinois and Pennsylvania
Beginning in February 2011, the LeRoy Collins Institute issued a series of reports highlighting funding and management
issues in Florida municipal pension plans. In November 2011, we published a report card which graded 208 defined
benefit pension plans in the states 100 largest cities.i
At that time, we found many well-funded plans 14 percent
received an A grade but nearly a third of the plans received Ds or Fs. This report updates that report card with new
information. . . .
Understanding Florida's Local Pension Plans
Local public pension trustees are an historic and important tradition in local public service. Public pension plans date back over 150 years in the United States, pre-dating private sector, state and federal government retirement plans. There are an estimated 20,000 pension trustees throughout the United States, administering in excess of 2,600 public pension plans. Pension trustees play one of the most important roles in local government: protecting the retirement security of millions of public sector workers, retirees, and their families. Trustees are the local fiduciary of the pension trust. . . .
Pensionomics 2014: Measuring the Economic Impact of DB Pension Expenditures
A new national economic impact study finds that DB pension benefits have a significant economic impact: 6.2 million American jobs and $943 billion in economic output. The analysis finds that the benefits provided by state and local government pension plans have a sizable impact that ripples through every state and industry across the nation. . . .
FPPTA Final Legislative Report for 2014 Regular Session
The 2014 Florida Regular Legislative Session officially adjourned sine die on May 2nd at 10:40 p.m. and within the 60 day constitutional allowance. Although the session started out with a flurry of activity in the area of pension reform, in the end, only one general bill (HB 117) and two local bills HB 931 and C/S for HB 1145 both relating to the City of West Palm Beach passed. . . .
Financial Security Scorecard: A State-by-State
Analysis of Economic Pressures Facing Future Retirees
This new analysis gauges the relative performance of the fifty states and the District of Columbia in three key areas: anticipated retirement income; major retirement costs like housing and healthcare; and labor market conditions for older workers. . . .
The Retirement Savings Crisis: Is It Worse Than We Think?
The study broadly examines how American households are faring in relation to retirement savings targets recommended by some financial services firms. It uses the Federal Reserves Survey of Consumer Finances to analyze retirement plan participation, savings, and overall assets of all U.S. households age 25 to 64, not just those with retirement account assets. This is important because some 45 percent, or 38 million working-age households, do not households, do not have any retirement account assets. . . .
NIRS: Retirement Lessons from Australia, Canada, and the Netherlands
Three nations offer lessons for providing high quality retirement plans with income adequacy, financial sustainability, and risk sharing. . . .
Displaying Matches 7 thru 21 of 189 Found BACK NEXT