Important public pension reforms are under threat in several states

Important public pension reforms are under threat in several states – Reason Foundation

"Unions and other stakeholders wield significant influence over lawmakers through campaign contributions and lobbying. This clout often translates into enhanced pension benefits negotiated with too little consideration of the risks and long-term costs that taxpayers will bear. A recent pension boost for Chicago’s police and firefighter pensions is an example of this pitfall, with new legislation handing out expensive benefit upgrades despite the…

Important public pension reforms are under threat in several states

George Santayana (1863–1952), a Spanish-American philosopher, is known for the adage, “Those who cannot remember the past are condemned to repeat it.” The saying is intended to admonish and warn us that failing to learn from historical mistakes leads to their repetition. Recent efforts in multiple states to undo public pension reforms of the past are a real-time illustration of the fragility of good pension policy.  With term limits and ever-evo…

UK pension reforms: What LGPS pools must prepare for

Discover how the UK Pension Scheme Bill will reshape LGPS pools. Learn five key insights and what steps funds should take next.