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Fiduciary Responsibility

As Baby Boomers retire daily and the American population continues to age, one thing becomes clear: public pensions are poorly underfunded. States and cities are facing an impending funding crisis that will burden future generations and taxpayers for years to come. Beyond this, pension fund fiduciaries are increasingly pressured by outside stakeholders to manage the […]

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Urban Institute: Evaluating Pension Reform Options with the Public Pension Simulator

Covering 14 million state and local government employees, public pension plans typically provide lifetime retirement benefits based on years of service and the salary earned near the end of a career. These pensions provide meaningful retirement security to employees covered by a plan for a full career, but offer few benefits to shorter-term employees, a drawback that is becoming increasingly problematic as people change jobs more frequently.

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