Archives: Pension Reform / Articles
Archives: Pension Reform / Articles (page 7)
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GASB’s Ineffective Public Pension Reporting Standards Set to Take Effect
Public pension plans across the United States face a remarkable funding crisis. A study by economist Andrew Biggs and published by State Budget Solutions found that the average public pension plan was just 41 percent funded.
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How to Prevent Future Pension Crises
State and local governments face an unprecedented crisis as a result of inadequately funded public pensions, as evidenced by a recent State Budget Solutions study that found on average, public plans across the country are only 41 percent funded.
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Solutions to the Public Pension Crisis
Public pensions at the state and municipal levels are unsustainable in their current form.
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Public Sector Pensions: How Well Funded Are They, Really?
Around the country, the financial health of defined benefit pension plans for state and local government workers is a matter of concern for elected officials, taxpayers and the financial markets, all of whom worry about governments' long-term ability to meet their financial obligations.
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Census State Pension Survey 2007-2010
The U.S. Census collects key data from selected state and municipal pension funds every year. Data in the tables attached here covers the 222 largest state administered defined benefit pension funds from fiscal years 2007 through 2010.
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States of Denial
Millions of Americans are using common sense to make difficult choices about their family budgets. Unfortunately, that same common sense approach is in short supply in state capitals as legislators and governors ignore financial reality and avoid facing tough choices about their state's budget.
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Arizona Passes Fundamental Pension Reform
According to the Reason Foundation’s Pension Integrity Project, the reform package will save Arizona taxpayers a combined $1.5 billion over 30 years.
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For Retirement Security, K-12 Teachers Should Embrace Higher Ed Model
In a modern, defined contribution system, all workers and retirees get an annual report on the status of their pension investments.
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Sunshine Week Spotlight: Public Employee Bargaining Transparency Act
Government transparency is absolutely critical for government accountability. The government that works best is the government that is accountable to the people. But, there can only be accountability when the…
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State of the State: Illinois
Given the severity of Illinois’ problems, now is the time for bold reform.
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State of the State: Hawaii
Governor Ige is right to focus on enhancing Hawaii’s ability to compete in the global economy. However, these new initiatives fail to address the root problem—Hawaii’s uncompetitive business climate.
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State of the State: Utah
Few states in the nation can rival Utah’s commitment to fiscal responsibility and economic competitiveness. A lesser writer would even say that the Beehive State’s economy is buzzing. Utah’s consistent…
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State of the Commonwealth: Massachusetts
Governor Charlie Baker had a good week following the news that General Electric is moving its corporate headquarters to Boston. If Baker and Massachusetts continue to implement spending and tax reductions,…
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The Untouchables: A Look at Local Retirement Systems Protected by State Law
Many of Texas’s local retirement systems are in danger of fiscal disaster. The latest data shows we have in excess of $57 billion in unfunded pension liabilities and that number…
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Jonathan Williams and Karla Jones Interviewed on I Spy Radio
Jonathan Williams, Vice President of the ALEC Center for State Fiscal Reform, spoke with Dr. Mark on I Spy Radio in Oregon about the continued trend of Americans moving to…
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New Fiscal Year Resolutions for Washington, D.C.
As Washington, D.C. starts a new fiscal year, policymakers should look to the states for innovative budget reforms. States are taking the lead in reforming budgets and ensuring taxpayer dollars…
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Ben Wilterdink Testifies To Connecticut State Tax Panel
The American Legislative Exchange Council (ALEC) has been following the progress of the Connecticut State Tax Panel, which develops recommendations on how to improve the state tax code in the wake of ongoing economic…
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Pope Francis is Right: Free Markets Serve the Common Good
On Thursday, Pope Francis delivered remarks to a joint session of Congress and urged for unity in his message. While left-leaning pundits have been quick to highlight comments from…
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ALEC Releases New Report Examining the Effect of State Taxes on Charitable Giving
Charity is a crucial component of efforts to address societal challenges and help individuals thrive. From religious organizations to community charities, philanthropic donations drive the institutions of civil…
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Right-to-Work: A Pro-Growth Reform Opportunity in Missouri
This week, Missourians have a chance to see their business climate greatly improved by becoming the 26th Right-to-Work (RTW). Despite recent attempts to link Right-to-Work laws with racist conspiracies or…