Left unchecked, swelling pension deficits estimated at over $6.5 trillion could eventually bankrupt state economies and hurt public services like infrastructure and education, negatively impacting the lives of all Americans. Alternative retirement plans can provide a lifeline to governments and households. Transitioning workers to sustainably-structured retirement plans like a 401(k) allows states to save money and remain solvent, and still provide employees with reliable benefits and financial security.
Be sure to visit The Hoover Institution at https://www.hoover.org/ and PolicyEd at https://www.policyed.org/
Check Out More from Oliver Giesecke:
Read “How Much Do Public Employees Value Defined Benefit Versus Defined Contribution Retirement Benefits?” by Oliver Giesecke and Joshua D. Rauh here:
https://www.hoover.org/research/how-much-do-public-employees-value-defined-benefit-versus-defined-contribution-retirement
Read “Public Pensions Are Mixing Risky Investments with Unrealistic Predictions” by Oliver Giesecke and Joshua D. Rauh here:
https://www.gsb.stanford.edu/insights/public-pensions-are-mixing-risky-investments-unrealistic-predictions
Read “Trends In State And Local Pension Funds” by Oliver Giesecke and Joshua D. Rauh here:
https://www.hoover.org/research/trends-state-and-local-pension-funds
