Author Archives: Adam Schwiebert

Cincinnati Coming to Grips with Pension Costs

Posted on May 16, 2012 by Adam Schwiebert

With the public pension reform debate heating up in the Statehouse, it’s fitting timing for another pension crisis to arise—this time, in Cincinnati. Cincinnati’s situation is unique. Unlike Ohio’s other municipalities, Cincinnati city employees do not participate in one of …

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When Government Gets Involved in Higher Ed, Costs Increase

Posted on May 7, 2012 by Adam Schwiebert

The rising cost of a college education has been in the news a lot recently, and deservedly so. Controlling higher education costs is essential to ensuring that young people can attain the necessary skills needed to compete in a global …

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Attracting Quality Workers and Reforming Public Pensions

Posted on May 4, 2012 by Adam Schwiebert

A common argument made against substantive public pension reform is that state and local governments will be unable to attract qualified workers without generous retirement plans.  While it’s true that any potential employer must offer competitive benefits in order to …

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Teacher Pension Changes Welcome, But Still Insufficient

Posted on April 26, 2012 by Adam Schwiebert

The State Teachers Retirement System (STRS) of Ohio recently released its fourth reform plan to address the significant fiscal challenges facing the system ($43 billion in unfunded liabilties).  As the Ohio Senate prepares to tackle public pension reform legislation as …

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The Momentum Grows: Virginia Creates Mandatory Hybrid System

Posted on April 23, 2012 by Adam Schwiebert

Just days ago, the Commonwealth of Virginia enacted one of the most sweeping pieces of public pension reform legislation in the country, joining the growing ranks of states that have rejected the status quo and embraced real reform. Similar to …

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Ohio Pension Investments Stalling, Taxpayers Losing Ground

Posted on April 20, 2012 by Adam Schwiebert

Yesterday’s meeting of the Ohio Retirement Study Council (ORSC) provided further evidence for what we’ve been arguing for quite some time: Ohio’s pension funds’ investment assumptions are set unrealistically high.  And now that returns are falling far short of their …

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Louisiana the Next State to Move Away From Defined-Benefit Pensions

Posted on April 13, 2012 by Adam Schwiebert

First Michigan. Then Utah, Rhode Island, and Virginia.  Now Louisiana is considering comprehensive reforms to its defined-benefit public pension system.  The proposal, recently released by Gov. Bobby Jindal, would close the existing defined-benefit plan and shift future employees into a …

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Public Pensions Betting Big and Coming Up Short on Risky Investments

Posted on April 4, 2012 by Adam Schwiebert

A recent New York Times article provided an excellent overview on a topic that we’ve wrote about for some time at Buckeye.  The issues are public pension risk and investment returns. The condensed back-story to the whole situation is this: …

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The New Face of Public Pension Reform

Posted on April 3, 2012 by Adam Schwiebert

The Wall Street Journal just ran an excellent piece on Rhode Island State Treasurer Gina Raimondo. Raimondo is a Democrat. She considers herself to be pro-government. Few would classify her as a conservative. And yet, she’s the author of one …

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As Higher Education Costs Soar, the Answer is Not More Government Spending

Posted on March 28, 2012 by Adam Schwiebert

It’s a widely held belief that higher education is the ticket to economic prosperity.  And by in large, that’s correct.  As educational attainment increases, so too does income. Naturally, government has looked for ways to promote higher education, most commonly …

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