New Public Pension Study Will Spotlight Reform Successes
How some state and local governments have successfully negotiated changes to their pension programs during tough economic times is the subject of a new study by the Vinson Institute and the Center for State and Local Government Excellence, based in Washington, D.C.
The Institute is providing research assistance for the year-long study, which will examine the process and impact of defined benefit pension plan reforms in three states and two local governments over the past 10 years. The study report will include a special section on lessons learned that can be helpful to governments nationwide.
“Pulling together information from pension negotiation success stories that represent a range of scenarios offers decision makers a valuable resource,” explains Paula Sanford, faculty member who will be directing the Institute’s research activities for the study. “The economic downturn has significantly reduced government revenues, and public pension plans’ funding levels have dropped dramatically. Plan sponsors are looking for strategies to restore their finances while continuing to meet their commitments to members.”
The study will involve gathering data from a number of sources, including interviews with elected officials, finance and human resources department personnel, and pension managers; data from budgets, audits, pension documents, and legislative records; and relevant academic and practitioner literature.
The Center for State and Local Government Excellence is a national organization with a mission to provide policy leaders with information critical to recruiting and retaining quality public workforces.
