Tag: Sound Pension Reform
Tag: Sound Pension Reform
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ALEC Policy Champion: South Carolina Rep. Bill Taylor Keeps Politics Out of Pensions
On February 14, Governor Henry McMaster and the South Carolina General Assembly showed their love for sound pension reform when H 3690, known as the “ESG Pension Protection…
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Unaccountable and Unaffordable, 7th Edition
Unfunded state pension liabilities total $6.96 trillion or just under $21,000 for every man, woman, and child in the United States. As noted in this report last year, the total…
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With First Veto, President Biden Fails to Learn from California: Lee Schalk and Thomas Savidge in The Orange County Register
Lee Schalk, ALEC Vice President of Policy co-authored a guest column in The Orange County Register with ALEC Center for State Fiscal Reform Research Director Thomas Savidge, explaining why…
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State Government Employee Retirement Protection Act
(1) Definitions (a) The term “defined benefit pension plan” or “plan” shall mean any plan, fund or program which was heretofore or is hereafter established, maintained, or offered…
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Defined-Contribution Pension Reform Act
Intent Section The Legislature finds that the defined-benefit model of retirement benefits for state and municipal employees is not fiscally sustainable. It is the intent of the Legislature, therefore, to…
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Keeping the Promise: Getting Politics Out of Pensions
Pensions are a valuable non-wage benefit that a large majority of state and local governments offer their employees as part of their compensation packages. With approximately $3.8 trillion in total…
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ALEC Statement of Principles on Sound Pension Practices
Stability – Government pensions should be secure and safe from high risk assumptions. State and local governments should eliminate incentives to underfund pension commitments, or to over-expend benefits beyond available…