10 Things You Should Know About Public Pension Disclosure Changes
State and local government retirement systems have significant oversight and disclosure requirements, some of which are undergoing considerable modifications. Several new and separate public pension calculations are being published — each derived in different manners and for distinct purposes — and can easily be misunderstood and create confusion. This fact sheet offers 10 key takeaways regarding existing disclosures, notable changes, and their effects.
The 3 Rs of Teacher Pension Plans: Recruitment, Retention, & Retirement
A study analyzing the effectiveness of defined benefit pensions on teacher retention and productivity finds that pensions play a critical role in recruiting and retaining productive teachers
Comparing Public Pension Accounting and Funding Measures
A study of how GASB’s changes to pension accounting standards for state and local governments disconnect the accounting measures from the measures used to fund public pension plans and make the accounting measures more volatile.
Pension Funding: A Guide for Elected Officials
National organizations representing the nation's governors, state legislatures, local officials and public finance professionals formed a Pension Funding Task Force, releasing this study in March 2013, which recommends state and local governments adopt pension funding policies.
Pensionomics 2014: Measuring the Economic Impact of DB Pension Expenditures
This national economic impact study finds that DB pension benefits have a significant economic impact: 6.2 million American jobs and $943 billion in economic output.
Pensions & Retirement Security 2013: A Roadmap for Policy Makers
(February 2013) outlines public opinion research that finds Americans remain highly anxious about their retirement prospects (85%) and would participate in a new pension system to help rebuild the road to retirement (81%).
A free interactive resource we have developed in partnership with the Center for Retirement Research at Boston College and NASRA, containing financial, actuarial, and governance data on 150 public pension plans (90 percent of public pension membership and assets in the U.S.).
Shared Risk in Public Pension Plans
Identifies general types of risk present in public sector retirement plans and analyzes longstanding and emergent uses of risk-sharing features enacted by states and designed to meet their specific financing and human resource goals.
Shortchanged in Retirement: Continuing Challenges to Women’s Financial Future
A new analysis finds that women are far more likely than men to face financial hardship in retirement. Women are 80% more likely than men to be impoverished at age 65 and older.
Shortchanged in Retirement, The Continuing Challenges to Women’s Financial Future, finds that across all age groups, women have substantially less income in retirement than men.
Spending on Public Employee Retirement Systems
Pension benefits are paid from trust funds to which public retirees and their employers contributed while they were working. On a nationwide basis, contributions made by state and local governments to pension trust funds account for 4.1% of direct general spending.
State and Local Pension Costs
Examines the long-term effects of pension reforms on employer costs and on state budgets for a sample of 32 plans in 15 states.
Bloomberg: Wisconsin's Pension System Works for Everyone
The Bloomberg Opinion article discusses how Wisconsin is the state with the best-funded retirement system. The subtitle sums it up, "State employees and taxpayers share the risks of financing retirement. The result is a pension fund that underpromises and overdelivers." Click on the button link to read the full article.
Wisconsin Retirement System Annuities Fact Sheet (ET-8908)
The WRS covers employees of the state of Wisconsin and employees of local government employers who elect to participate, and Milwaukee Public School District teachers.
Service to Our Members 2018 (ET-7118B)
Service to Our Members 2018 gives a snapshot of The Department of Employee Trust Funds administered services in a year.
Our Wisconsin Retirement System: Strong for Wisconsin (ET-7100)
A brochure that provides an overview of the Wisconsin Retirement System and how it is a strong public pension system - one of the best funded in the country.