Tag Archives: Pensions

Unfunded Liabilities Undermine Budget Progress

Ohio’s new budget is a step in the right direction, but without pension reform this progress will be for nothing. A recent index of state budget solvency from the Mercatus Center provides a stark illustration of the need for reform. …

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Cincinnati Coming to Grips with Pension Costs

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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Attracting Quality Workers and Reforming Public Pensions

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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The Momentum Grows: Virginia Creates Mandatory Hybrid System

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

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

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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Pension Reform Primer

A great introductory piece to public pension reform from economicfreedom.org. We agree that comprehensive reform is necessary for long-term fiscal stability and is essential to providing government employee retirement benefits at levels that taxpayers can afford.

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